The Value of Betting to the UK Economy Revealed

A survey carried out on behalf of the Association of British Bookmakers has confirmed the hugely positive impact which wagering has on the British economy.

It was carried out by Deloitte and focussed largely on the number of jobs in the gambling industry in the UK and the contribution it makes to the country’s GDP.

As far as the job figure goes, we can see that the betting companies across the country provide jobs for an impressive total of 38,800 people. This figure was for 2011 so it might have changed in the last year so.

The betting industry also puts £2.3 billion into Britain’s GDP. While there has been a certain shrinkage since the last report of this type was carried out in 2008 the same amount of taxes find their way into government coffers as they did back then.  

The report suggests that the rise in the use of electronic wagering machines has in saw way lessened the possible impact on the industry of the recession and the increased in offshore betting operations. 

£5 Billion GVA

The Gross Value Added (GVA) of the industry is regarded as the true value which it brings to the whole economy of the county and this has been calculated at £5 billion. However, new issues such as tighter regulation and potential new taxes are set to provide tough challenges.

Simon Oaten is the Head of Betting and Gaming at Deloitte and he said that the UK’s betting industry could see “significant change” in the next couple of years due to a range of factors.