Ernst & Young reports forced economics checks impact UK betting and gaming industry

The UK-regulated betting and gaming industry has called on the government to publish a white paper and enact new legislation for the gambling industry in its jurisdiction, after a recent study showed government-imposed checks on affordable prices were already affecting profits.

Ernst & Young’s (EY) study of the Betting and Gaming Council (BGC) found that the sector remained stable despite the pandemic. The sector is currently easing the energy and inflation crisis, the study said, but claimed that the implementation of stricter price checks on regulatory markets has reduced revenue.

The survey is based on a recent poll, which says about 70% of betting companies will not allow regulated companies to demand evidence of their capacity to place bets. EY also revealed that their total VAT contribution to the UK economy amounted to 7.1 billion pounds ($8.7 billion) despite pressure from action on all BGC member states. 바카라

Annual contributions to the Treasury in regulated betting and gaming remained at 4.2 billion pounds ($5.2 billion), with the industry securing 110,000 jobs, according to the report.

Michael Duggar, CEO of the Betting and Gaming Commission, said, “The UK’s regulated betting and gaming sector is a true global leader. About 22.5 million adults enjoy betting on any number of sports at lottery, bingo, online, and casinos. Our members inject billions into the economy, support the Treasury with more billions, and support more than 100,000 jobs.”

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