UK gambling - the "Full Picture"


Betting industry worth GBP 6 billion a year, new Deloitte study commissioned by Ladbrokes shows.

The betting industry generates GBP 6 billion in the United Kingdom annually – half a percent of the nation’s total gross domestic product – according to a new study by professional business services provider Deloitte.

Commissioned by online and land betting group Ladbrokes, the ‘Full Picture’ survey found that the betting industry also provides over 100 000 direct and indirect jobs, which is 0.3 percent of the United Kingdom’s total employment.

Deloitte reported that the retail betting industry alone generates GBP 700 million in wages each year along with GBP 800 million in profits while providing GBP 700 million in tax.

In addition to quantifying the economic contribution of betting in terms of both direct and indirect impacts, the report also highlighted the wider impact of the industry in delivering other socio-economic policy objectives.

It showed that betting provides a relatively high number of jobs for workers with no qualifications, boosting employment opportunities and skills development, and has a regenerative impact due to the high levels of footfall.

“The betting industry makes a significant contribution to the British economy but is subject to intense international competition,” said Simon Oaten from Deloitte.

“With Internet and mobile betting growing, the challenge for government is to balance effective regulation with creating the conditions for the domestic industry to compete.”

Deloitte stated that 15 percent of horse racing’s annual income is derived from the betting industry, which helps to support employment in rural areas through links with the sport. The report also highlighted the positive impacts of betting on sports through marketing and direct sponsorships.

“This report comes at a crucial time for the industry and will help inform the government and stakeholders about the important contribution the industry makes to employment and taxation in these difficult economic times,” said Chris Bell, Chief Executive Officer for Ladbrokes.

“We hope it will contribute towards more informed policy making and help remove much of the uncertainty that has surrounded the taxation and regulation of our industry in recent years.”

General Gambling News

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

2mins ago someone from United States played Vegas Dreams

Casino Community

Share this page on:
Follow LCB on:
Follow LCB

Casino Of The Month

Casino of the Month

In the last 24h

Totals

  • New Members
    24
  • Members Online
    333
  • Guests
    2,097
Highest Community Rated Online Casinos
NextCasino
  (122 Ratings)
Bet365 Games
  (142 Ratings)
CasinoLuck
  (190 Ratings)
Betsson Casino
  (186 Ratings)
Unibet Casino
  (110 Ratings)
Guts Casino
  (141 Ratings)
Redbet Casino
  (116 Ratings)
Slotty Vegas
  (83 Ratings)
Spin Palace Casino
  (96 Ratings)
Betsafe Casino
  (161 Ratings)
Mr Green Casino
  (252 Ratings)
BitCasino.io
  (145 Ratings)
ComeOn Casino
  (202 Ratings)
Intertops Casino Classic
  (90 Ratings)
32 Red Casino
  (263 Ratings)
Winner Casino
  (310 Ratings)
Liberty Slots Casino
  (142 Ratings)
Jetbull Casino
  (85 Ratings)
Thrills Casino
  (107 Ratings)
Intertops Red Casino
  (100 Ratings)
Vera John Casino
  (155 Ratings)
Casumo
  (107 Ratings)
Sin City Casino
  (74 Ratings)
BETAT Casino
  (167 Ratings)
Slotland
  (259 Ratings)
Ladbrokes Casino
  (133 Ratings)
3Dice Casino
  (222 Ratings)
Ruby Fortune Casino
  (122 Ratings)
PlayHippo
  (59 Ratings)
River Nile Casino
  (86 Ratings)


Follow LCB on Facebook Follow LCB on Twitter Follow LCB on Pinterest Follow LCB on Google plus