The Betting and Gaming Council (BGC) has issued its statement regarding this morning’s report by Peers for Gambling Reform (PGR), highlighting the industry’s financial contribution to the UK economy in response to ‘fantasy figures’.
The gambling industry’s trade body, the Betting and Gaming Council (BGC) has made a statement regarding the latest report issued by the Peers for Gambling Reform (PGR) that highlighted the financial contribution of the sector to the country’s economy.
The report made an assessment of the economic impact of reforms that were proposed in 2020 by the House of Lords, including a suspension on sponsorship agreements between gambling operators and sports clubs, implementation of in-depth affordability checks, imposing certain limits to the speed of play and online stakes, as well as a mandatory levy on gambling companies to fund responsible gambling initiatives and services.
Our new report, published today by @NERA_Economics, finds that our recommendations for reform of the gambling industry would result in substantial savings for the NHS and would lead to wider economic benefits.
— Peers for Gambling Reform (@pgreform) May 26, 2021
The PGR report estimated that the proposed reforms would have a financial impact on the industry of between £696 million and £974 million every year.
According to the report, the profits from the gambling industry were likely to surpass any financial costs that have already been associated with the proposed reforms.
The Peers for Gambling Reform said that the reforms might lead to a reduction in the employment in the country’s gambling sector but diverting expenditure by the public to other sectors could create about 30,000 new jobs.
The report further noted that the proposed changes would lead to a net increase worth between £68 million and £87 million in tax revenues for the exchequer.
What accounts for the popularity of gambling in England
These days, apps and websites adapted to different types of devices allow you to gamble anywhere, anytime.
This shows that technology has opened the door to the world of gambling for many people who were previously unable to visit land-based establishments.
These are the latest gambling stats in Britain:
- 47% of Brits visit online clubs regularly – at least once a month
- 30% of Britons participated in the National Lottery, making it the most popular form of gambling
- the average Briton spends £2.60 a week on betting, which adds up to more than £135.20 a year
- The UK gambling industry had an average turnover of £14.3 billion in 2021 (up from £10 billion six months earlier)
- In 2021, the industry had 98,174 employees
- The National Lottery contributed £1.6 billion to charities in 2020/2021
By far the most popular form of gambling entertainment in the UK is the National Lottery, with almost a third of Britons (30%) participating in the last 12 months.
Next most popular are card games (13%) and scratch cards. (10%). Sports betting also has a special place in British life with almost 7% of Britons having taken part in it this year.