By Teresa Tunstall
Far too many adults have been playing online throughout this Covid-19 period which has not only taken over but also taken the lives of so many of us. However, it seems that some children have followed suit and also occupied themselves by gambling, but sadly without the knowledge of their parents. This begs the question as to how do the underage manage to gamble not only without their parent’s knowledge and consent but also by using their bank cards? One traumatic example is of a 13 year old who plunged his father into debt to the tune of £60,000 over a period of 6 years! It’s a sorry tale that began when amazingly the child was only seven years old, and incredulously nobody was aware of it.
Meanwhile the uncertainty of the global economic situation has resulted in financial woes in all sectors including worldwide currencies. The result has seen a “Gold Rush” which in August last saw this precious metal topping at £2000 an ounce; boosted by the pandemic a large number of UK listed companies rallied. Now the price has dropped to £1,900 an ounce and has unfortunately lost some of its shine. “All that glitters may not be gold” is an old adage but nevertheless it will always have its appeal and will continue to be a hedge against currency drama!
The year 2020 is synonymous with the word “Lockdown” especially in the UK; it’s a word we are all familiar with currently, particularly when it comes to family issues. On a personal front, getting together with friends and family who reside long distances away is difficult especially as far as my 89 years old uncle is concerned. He lives circa 80 miles from me so catching up is not easy and very frustrating. There is no option but I’ll have to shelve my visit until Christmas and hope Boris doesn’t expand Locdown through to the end of this year. Sometimes I feel LockedUP rather than LockedDOWN!
Apparently, The Government Ministry of Defence is set to renationalise the making of Britain’s nuclear warheads! The Atomic Weapons Establishment (AWE) has managed UK’s nuclear stoke pile since 2000, now AWE have been informed that this would ‘transfer back under the direct control and management of the Ministry of Defence in June 2021.’ Previously this has all been managed by AWE in which Serco holds a minority interest of 24.5% the US defence giants Lockheed Martin and Jacobs hold 51% and AWE Management had expected to run until 2025. I hope we all feel safer with the knowledge that finally only the UK has total control of our defences.
Which countries have the largest gambling losses per adult, worldwide? This question will rarely be accurate as some countries continue to hide the true figure. However, Australia ranked first in a list of countries with the highest gambling losses worldwide with losses of 958 US dollars per adult.
I was shocked to read that the Philippines gaming regulator is looking to set a tax rate of 42.5 percent on all online gaming revenue earned by land-based operators under what will be known as the “PIGO” (Philippines Inland Gaming Operator) license scheme, according to a source close to the matter.
On top of this, operators will pay a 5 percent gaming systems fee to the regulator, meaning that they will keep only around 28 percent of revenue gained from their online gambling operations.
If true, that would spell one of the highest online gambling tax rates in Asia.
Currently, Philippines Offshore Gaming Operators (POGO) are required to pay an additional franchise tax of 5 percent on turnover, in lieu of all kinds of tax – an amount that they’ve had trouble collecting from operators as it is.
You may be interested to learn that Fraudsters have scammed more than £60,000 from unsuspecting lottery players in the Midlands. On a personal level I was sorry to read that Police have confirmed that at least 10 people in the region have been duped by a scam within the last three months. Conartists have been tricking people into believing they’ve won money but were instead fleecing them out of thousands of pounds. Victims have been receiving phone calls from scammers and tricked into believing they won either a UK or international lottery.
In point of fact, this is so similar to actually what happened to me. I received a telephone call purporting to be from Croydon Police stating that my Bank Card had been used to purchase goods and they needed to verify that it was my card by sending someone collect it. During the 20 minute call I was convinced and stupidly handed over my Bank card to a “courier”… within 6 minutes they took £500 from my account! Fortunately, Lloyds Bank returned my money and I wasn’t out of pocket. But be warned: don’t trust anyone, ask for their telephone number and always check them out.
November is a month I always look forward to and watch the ‘Remembrance Day Commemoration” on television. My father was caught 30 miles from Dunkirk and later his failed attempt to escape from prison meant they moved him every year to a different prison until General George Patton opened his heavy metal prison doors and he was liberated. An annual event worth remembering every year…“Lest we Forget”.
Read more from Teresa every month in the Infinity Gaming Magazine
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