BGC report reveals members contributed £7.7 billion to UK economy

[The Buzz]

A study commissioned by the Betting and Gaming Council shows that betting shops, casinos and the online gaming sector support 119,000 jobs and generate £4.5 billion in tax to the Treasury and that its members contributed £7.7 billion in gross value to the U.K. economy in 2019.

The BGC released the results as the Gambling Act Review nears its close with ministers expected to produce a White Paper on future regulation of the industry later in the year.

According to the report:

In 2019 the BGC’s members – made up of betting shops, casinos and online – directly employed 61,000 people, with a further 58,000 jobs generated by their supply chains.

Nearly one-fifth of those employed in the industry (19 per cent) are under 25 and more than half (51 per cent) are under 35 – far higher proportions than the wider economy, demonstrating how important they are in providing entry level jobs for young people.

22,000 of the 61,000 direct jobs are based in the North of England and Scotland, and 15,000 in London. Leeds and Stoke are two examples of cities where the industry is vitally important (case studies below)

BGC members directly contributed £3.2bn in tax to the Exchequer in 2019, accounting for 0.4 per cent of all Treasury revenues. When taxes paid through the supply chain are added, this rises to £4.5bn

BGC members contributed £7.7bn to UK gross value added (GVA) in 2019, with a higher concentration of economic activity in the North, Scotland and London.

Horseracing benefits from the BGC members to the tune of £350m through sponsorship, media rights and betting levy payments.
BGC members contribute at least £40m a year to the English Football League and its clubs, more than £10m to darts and snooker and over £2.5m for rugby league.

Michael Dugher, chief executive of the BGC, said: “At a time of economic fears and huge pressures on public finances caused by the Covid-19 pandemic, the huge contribution betting and gaming makes to UK plc could not be more important.

“This latest, authoritative report by EY sets out in black and white the vital role they play in helping to fund the public services upon which we all rely. As the standards body representing the regulated industry, the BGC fully supports the Government’s Gambling Review plus the need for continued higher safer gambling standards and more change to regulation.

“However, it is vital that the Government get those changes right and does nothing to put at risk the future jobs and tax take of a growing, world-leading British industry”.

Read more from the BGC here: https://bettingandgamingcouncil.com/...x-contribution

Read the report in its entirety here: https://bettingandgamingcouncil.com/...ion_Report.pdf