The Betting and Gaming Council in the UK released a video outlining the importance of changes that may be done to the gambling law in the country. The Council warned that such changes may bring unintended consequences such as pushing more people toward the black market.
UK’s Regulated Gambling Industry Is a Safe Bet, Says BGC
In light of the ongoing gambling law review in the UK, the Betting and Gaming Council (BGC) released a new video focusing that it is extremely important that the change is implemented correctly. Calling the regulated industry in the UK “a safer bet”, the BGC deemed the UK as one of the safest places in the world to place a bet.
Furthermore, the BGC also stressed the importance of changes in the gambling law which may bring “unintended consequences”. If not done correctly, such changes may drive people to unregulated, unsafe online gambling markets. Those black market operators exist online and they do not care whether the players are underage or how much they are spending, added the BGC. Furthermore, the Council stressed that the black markets do not care if the players have had or currently have gambling problems.
Another point which the BGC raised in its video is that with the growing popularity of mobile devices over the last 15 years, the Council had helped to make the gambling market in the UK a safer place. The measures which ensure the safety of the UK market players include ID and age verification, prohibition of credit card use, deposit limits as well as self-exclusion, and cooling-off periods. Those measures are in fact applicable to horse racing, casino gambling, bingo, and the National Lottery.
The Gambling Industry in the UK Helps Multiple Sports
BGC’s video also focused on the size of the UK betting industry outlining that the industry contributes £8.7 billion to the economy. Furthermore, the UK’s betting industry pays some £3.2 billion in gambling taxes and supports 100,000 permanent workplaces.
Multiple sports receive support from the betting industry. The BGC highlighted that horse racing receives some £350 million annually via levies, sponsorship, and media rights. Furthermore, the English Football League (EFL) also receives support with some £40 million annually. Other sports such as darts, snooker, and the rugby league also receive millions of pounds of valuable funds from the betting industry.
Acknowledging that the UK keeps the “gambling free from crime“, the BGC outlined that according to government data, problem gambling has kept a rate of 0.5% for the past twenty years. In conclusion, the Council supported changes in the country’s regulated market and stressed that those changes need to be done the right way.