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Deloitte report on Uk Betting Industry

Thursday March 21,2013 : BRITAIN’S BETTING INDUSTRY A KEY CONTRIBUTOR TO UK ECONOMY
 
Deloitte report highlights economic importance of British betting industry
 
A Deloitte report commissioned by the Association of British Bookmakers  to provide an analysis of the economic contribution of betting in the United Kingdom makes for some interesting reading.
 
While not concentrated on the online market, the survey highlights the plight of the UK betting industry affected by economic conditions, offshore betting and a growing tax burden.
 
-   The British Betting Industry is a key contributor to the UK economy, directly supporting 38,800 jobs in 2011, and in doing so, generating GBP 2.3 billion towards GDP;
 
-   The sector has shrunk since 2008, when last reviewed, but the retail component contributes an equivalent level of taxation to the exchequer as it did then;
-   The effects of the recession and a move to offshore betting may have been significantly worse for Licensed Betting Offices (LBOs) had electronic gaming machines not increased in popularity in recent years;
 
-   The industry has a far reaching impact on the rest of the UK economy, with a total economic footprint of GBP 5 billion in terms of Gross Value Added (GVA);
 
-   The industry as a whole faces a number of challenges from macroeconomic and regulatory factors, such as the proposed ‘point of consumption’ tax;
 
-   There is little doubt that the industry will continue to contribute economically and socially.
 
Commenting on the report Simon Oaten, Betting and Gaming lead at Deloitte said:  “The betting industry continues to make a significant contribution to the UK economy. Changing technology, such as mobile, smartphone and contactless payments, and regulation, including point of consumption and machines, will have a direct impact on the future contribution of the sector.  Each will have the potential to drive significant change in the next 24 months.”
 
Neil Goulden, Chairman of the Association of British Bookmakers, added: “Betting shops serve over eight million customers a year, and while we see major retailers closing down and shedding jobs almost weekly, betting shops continue to invest in the UK’s high streets. We are a highly regulated and socially responsible sector, which can provide economic growth, jobs and retail footfall given a fair and balanced tax and regulatory framework.
 
“However, the Licensed Betting Office sector is under huge financial pressure, driven by 9 percent retail inflation, and growing tax burden. We are a ‘soft target’ for HM Treasury - the new Machine Games Duty (MGD), for example, introduced in February at 20 percent, will cost the sector GBP 60 million (GBP 7000 per shop).
 
“2,700 LBOs make less than GBP 300 per week (GBP 15,000 p.a.). These shops employ 11,000 people and their profits fell by fell by 15 percent in 2011. MGD risks making these shops unprofitable overnight.”
 
The complete reportis  titled "The full picture- 2nd edition: Measuring the economic contribution of the British Betting Industry. March 2013"



Gambling News :

NHL Odds: Lightning go for Season Sweep Over Red Wings - The Tampa Bay Lightning (37-29-9) have been doing everything possible to make a fourth straight appearance in the Stanley Cup Playoffs. Without star centre Steven Stamkos, Nikita Kucherov (38 goals, 40 assists) and Victor Hedman (15 goals, 47 assists) have stepped up and will look to continue their strong play against the Wings. Game time is 7:30 PM ET on FS-D.

MPN Charity Poker Tournament at ICE 2017 - During what was a busy three-days for Microgaming at ICE Totally Gaming 2017, the MPN team enjoyed a charity poker tournament with Microgaming operators on Tuesday 7 February.

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NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

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