Is The United Kingdom Betting Industry Helping The Economy?

Is The United Kingdom Betting Industry Helping The Economy?

Staff Writer
March 20, 2013

Many people think that betting and gambling are inappropriate forms of entertainment, and they may be right to some extent, while others think of them as a great way to enjoy themselves and relax of an evening, as well as giving them the chance of winning a little extra cash. Betting and gambling will always leave people and communities divided, but when you look at the amount of jobs and income they can generate they actually form an extremely important role in the economy.

Deloitte are one of the leading names when it comes to Financial Advisory, in fact they employ over 190,000 people worldwide in over 150 different countries. They were recently asked by the Association of British Bookmakers to undertake a study to see how well the British Betting Industry contributes to the economy, with the study being given the name of ‘The Full Picture'.

The results make for very interesting reading, with the overall consensus saying that they do contribute to the economy both socially and financially. Simon Oaten who works for Deloitte had this to say on the recent report. He said, “The betting industry continues to make a significant contribution to the UK economy. Changing technology, such as mobile, smart phone 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.”

The report stated that the UK economy benefited to the tune of £2.3billion in 2011, a significant sum I'm sure you will agree. Also the report stated that the British Betting Industry provided 38,800 jobs during the same period. Both of those figures just go to prove how valuable the gaming and betting industry is to the UK, and whether people like them or not they are here to stay.



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