A Betting and Gaming Council (BGC)-commissioned report found that the UK’s regulated gambling industry contributed £7.7 billion to the country’s economy in 2019.
The industry was responsible for 58,000 indirect jobs, along with employing over 60,000 people within.
The report was conducted by Ernst & Young (E&Y), a professional services company headquartered in London.
A breakdown of the industry’s economic contribution
The report defined economic contribution by gross value added (GVA), which is how much money the industry added to the country’s gross domestic product (GDP).
£2.6 billion of the overall figure was contributed to the UK economy directly by members of the BGC. These companies also helped to generate an extra £2.9 billion indirectly. These were from supply chain demand.
The remaining £2.2 billion was a result of BGC’ employees spending their money within the British economy.
Online gambling had the largest GVA overall. £3.8 billion came from these means, though retail betting made a bigger direct contribution. £1.1 billion was contributed from this form of gambling, in this respect.
The north of England added the largest GVA, with this region contributing £850 million. London was second on the list, adding an extra £730 million.
In addition to the 61,000 people employed directly by the gambling industry, 44,000 were indirectly employed through supply chain roles. Meanwhile, 14,000 jobs helped employees to spend their money elsewhere.
Again, the betting industry was essential for Northern England. 43% of remote jobs are in this part of the country, as are 27% of land-based ones.
BGC members contributed around £3.2 billion in tax during 2019. £1.6 billion was from remote gaming duties, with operators also paying £1.5 billion in actual tax.
The gambling industry’s GVA equated to around 0.13% of the country’s economy, but said companies paid 0.4% in overall taxes.
Other areas that operators contributed to the economy included sponsorships, plus horse racing levy and more.
“The betting industry makes a huge contribution to the UK economy”
BGC Chair Brigid Simmonds commented on the research. She said:
“From hospitality to high streets, the betting and gaming industry makes a huge contribution to the UK economy.
“Casinos in London alone contribute £120m to the tourism sector, and look forward to being open once again.
“The contribution made to the Treasury by the betting and gaming sector, its support for sport and the jobs they offer to young people, so many of them highly skilled, are absolutely vital, especially in these uncertain times.”