Together with street betting shops and casinos, the UK’s online gambling sector contributed £7.7bn to Britain’s GDP in 2019. That’s according to an Ernst & Young report commissioned by the Betting and Gaming Council.
The BGC’s chief executive Michael Dugher applauded the “huge contribution” from the gaming industry at a time of unprecedented economic uncertainty. The report also found that the UK gambling sector supports 119,000 jobs across the country and contributes £4.5bn in taxes. The expectation is that the 2019 employment level will be reached again in 2022 and exceeded in 2023.
The findings come amid an ongoing review by the government of the UK’s Gambling Act. The three main issues being discussed are online stake limits, controls on gambling advertising, and the UK Gambling Commission’s powers.
The BGC’s Michael Dugher says he supports the review but urges Britain’s lawmakers to introduce changes that won’t “put at risk the future jobs and tax take.”
Despite the impressive figures from 2019, the industry suffered significant losses due to the pandemic. The BGC reports that around 374 betting shops and two casinos closed, leaving 5,000 without jobs.