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What The Gambling Industry Contributes To The UK Economy

The online gambling sector has been growing rapidly over the past 15 years and there are no signs of slowing down. Now in 2018 it has a third of the British gambling market. As technology and our lifestyle progresses, the gambling industry will continue to evolve.

If you’re not convinced about the size of the gambling industry then check out these statistics.

Between April 2016 – March 2017 a total of £13.7 billion gambling yield from land-based and online casinos. This is the amount before all expenses are taken away such as tax and salaries.

If you only want to know about the online gambling industry amount, well that was £4.7 billion. Which is a huge 10.1% increase from April 2015 – March 2016.

What The Gambling Industry Contributes To The UK Economy

More Than Tax Contributions

The contribution the gambling industry makes to the UK economy goes far beyond the preposterous tax amounts it pays out. Which is an additional 15% on top of all the usually corporation taxes.

It also provides jobs for 106,236 people. To put that into perspective The Royal Mail had 161,136 employees in 2016 and British Steel had 4,000 employees.

For online gambling what market share does all this actually equate to within the gambling sector? The answer is 34%, this includes all online casinos, bingo and sports betting sites. The increase seems small at 1.5% since last year. But 1.5% of £4 billion is over £400,000.

Over the past few years, several thousand good causes have benefited from gambling funding, the National Lottery is the most notable for this. Their contributions include £1.5 billion to good causes in April 2016 – March 2017 alone. Charities, local sport, arts and British heritage all benefit.