The Cozy Games platform is one of the most popular bingo applications on the web but we’ve recently been reading how some new legislation could dramatically affect the availability of welcome bonuses on bingo sites across the UK. With the current government, new taxation laws will come into effect and really alter how players can claim welcome bonus offers on Cozy Games sites and others.
An End to Free Bonus Cash?
These new taxation laws could see the end for the no deposit bonus and several Cozy Games sites have already take action including Moon Bingo. We love finding the best no deposit bonuses but they could actually become a thing of the past now that this legislation has been passed. As you can see, there are lots of Cozy games bingo sites that offer no deposit bonuses with the famous £15 in bonus cash an offer that is regularly claimed. These fantastic offers may become redundant over the next few weeks so why exactly is this?
New Gambling Tax
There are new taxation reforms that have now been passed and will come into play with immediate effect. The law relates to how freeplays and bonuses are distributed on online gambling sites and essentially means that any bonuses that are offered will still be liable for taxation. Essentially, this means that the first use of a free-play bonus will be taxable. Any winnings from said bonuses will also be taxable too at the end of the wagering rules process.
Technically, The Remote Gaming Duty should have come into effect August 1st, 2017 but this was apparently delayed due to the UK General Election. However, most networks have been notified that any bonuses can be backdated to this date and taxed appropriately. This will come into effect when the legislation is finally passed but we can see it going live over the next few weeks.
A Change to the Classic Welcome Offer?
What cannot be understated is the implications that this change will have on how we enjoy online bingo. We can see the no deposit bonus being phased out entirely over time on all over out favourite Cozy Games bingo sites as well as other networks and platforms too. Indeed, this operator is the first to confirm that it will be making amendments to its welcome bonuses with sites such as Comfy Bingo and Moon Bingo having already made changes to their new players bonuses.
This is no doubt a huge change and it will be interesting to see how players react to the development. Will Cozy Games still be able to attract new players? We would say yes but it will certainly be more of a challenge from now on. However, we can look forward to checking out a whole range of new offers on lots of new and existing bingo sites. One or two sites may even call it quits but we can see most bingo brands pulling through. We will continue to monitor developments and bring you more updates when we get them.