The UKs betting sector, as represented by the Betting and Gaming Council (BGC), has expressed its backing for the government’s financial strategies. Nevertheless, they are advising prudence regarding any policies that could adversely affect employment and client satisfaction within the sector.
Emphasizing the approaching Cheltenham Festival, a significant occasion in the horse racing schedule, the BGC stressed its substantial economic input. The festival is projected to produce £274 million (roughly $330 million) in income and draw billions in wagers over its four days.
The BGC also noted that the industry is still rebounding from the effects of the COVID-19 pandemic, which brought a large portion of it to a halt. Moreover, the conflict in Ukraine has had a ripple effect on the UK economy, adding to the difficult environment.
Michael Dugher, Chief Executive of the BGC, remarked: “The regulated gambling sector is already a major contributor to the UK economy, and we are keen to expand and contribute even further.”
He added, “To accomplish this, we require a budget that encourages growth and avoids new levies. We also need a practical approach to the forthcoming gambling white paper, one that balances safeguarding the susceptible with guaranteeing a positive encounter for the vast majority of patrons who wager responsibly.”
Dugher concluded by highlighting the industry’s function as a significant employer and contributor to various sectors: “Our industry encompasses globally-leading UK technology firms, as well as enterprises that support high street retail, hospitality, tourism, and leisure. In these unpredictable times, the government should be supporting investment and employment. We desire to see meaningful reforms that further enhance safer gambling, but new taxes and onerous regulations will only endanger businesses.”
The declaration follows numerous public objections from the Betting and Gaming Council (BGC) regarding stricter regulations. Brigid Simmonds, the BGC’s top executive, has also strongly opposed suggestions to implement a specific tax on gambling firms.
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