There is no such thing as professional sports gambling in the UK unless you are registered bookie or betting company. Betting tax is paid either when you make a bet (upfront), or it is taken off your winnings, if you don't pay when you make the bet (which obviously everybody does).
As far as casinos and online poker is concerned it is part of the rake and/or licensing regime and paid for by the hosting company (if they are registered in the UK).
So it's great to gamble here from a tax point of view. Don't matter how much you win, you pay no tax as long as it is defined as sports gambling.
stocks and share and the like...different matter...classed as investment and tax has to be paid.
Edited ...just checked as it is a serious question to make sure my view is till valid and find that all betting tax was removed in 2001. There are still some tax regimes for onshore and offshore gambling, but as far as punters (including BM and online poker players) are concerned there is no income tax liability whatever you win
Of course, if you still have a tax liability in your home country, different rules might apply to you.
PS I live in dundee
Last edited by Fatboy54; 07-15-2014 at 11:44 AM.