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Uk Gambling Industry
2/20/10 - 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.”
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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