Betting and Gaming Council Study Highlights Cultural Importance of Gambling

The British public may not be too fond of gambling in general, and call for tougher restrictions in principle, but ultimately, people are sentimental about the cultural impact of gambling Image Source: Shutterstock.com

A new Betting and Gaming Councilsurvey conducted by YouGov, a polling firm, has found that 74% of respondentsin the United Kingdomhold the view that gambling is part of the nation’s very fabric and plays an important cultural role.

BGC Hails Gambling as a Cultural Pillar of the Nation

While the public is similarly in favor of tougher measures on the gambling industry in principle, the new study has found that there is a strong attachment to gambling as a distinct national thing.

BGC Ceo Grainne Hurst has highlighted the new survey, indicating that overreaching measures could threaten the regulated sector and browbeat regulated operators into submission, empowering offshore companies in the process.

At least 1.5 million people in the United Kingdom are wagering with such offshore platforms, placing wagers of up to GBP 4.2 billion annually.

Hurst also noted that the gambling industry was not just a cultural phenomenon, but also a source of steadiness and economic growth. The official figure that the council cites is GBP 6.8 billionin economic output and 109,000 jobs.

The survey was used as an opportunity by the BGC’s boss to remind hawkish lawmakers that a gambling tax increase could have unintended knock-on consequences.

A good example is how the Netherlands has admitted that its measures targeting tax increases have resulted in poorer consumer protection measures.

The Public Is Growing Somewhat Discontent with Government Overreach

In the meantime, the survey also indicated that there is a significant number of people who are growing discontent with the government’s policies regarding gambling laws.

An estimatedthird of respondents(31%) said that the government is already putting too many constraints on the regulated market, and possibly empowering black-market operations as a result.

The BGC has also reiterated that the number of people experiencing gambling-related problems is 0.4% among adults. While true, this fairly small number of players could have a significant consequence on the economy in lost opportunities and reduced output.

The British Horseracing Association is also planning to cancel out races in September as a way to protest a proposed and discussed tax increase, which could significantly decrease the sector’s sustainability.