|The amount of revenue earned by the UK gambling industry has increased by more than 500 percent in the last three years. The figure has increased from annual revenue of £7.6 billion three years ago, to £40 billion. As has been widely reported this figure is set to increase even further as development plans take shape to expand the UK’s casino, both in terms of number and physical size. |
Research conducted by the Global Betting and Gaming Consultants attribute the impressive growth to two main factors. Firstly the rise is in line with the overall global growth of the online gambling industry. Successes experienced by the internet betting branches of companies like Ladbrokes and William Hill have contributed heavily to this new prospering annual revenue figure.
The second factor is Chancellor Gordon Brown’s decision to abolish betting tax on individual bets placed, which has had the effect of encouraging gamblers to start, continue or increase their betting activity. The explosion in the popularity of football, now accompanied by a corresponding rise in popularity of betting on football is another contributing factor. All these changes have converged to produce a gambling growth spurt in the UK, where bets are now tax free, football is at the peak of its popularity, and increased availability and services of online gambling sites have made betting more convenient for newly inspired punters.