Most Recent Online Casino News
Punters Stake £40bn a Year
Since Chancellor Gordon Brown abolished tax on betting three years ago
the UK has seen a five-fold increase in the amount of money staked
from £7.6bn in 2001 to a predicted £39.4bn this year.
In the 12 months to September 2001 the UK gaming industry generated
gross profits of £1.73bn but this figure is expected to be in the
region of £3.19bn for the past 12 months.
The figures were revealed in a report called Double or Quits
published this week by Global Betting and Gaming Consultants (GBGC). It
said that the governments move to ditch tax on individual wagers in
favour of gaming firms paying a new tax on profits was largely
responsible for the boom, but added that the rise in internet usage has
also been a factor, as well as the industrys willingness to adopt new
GBGC partner Simon Holliday said: The internet has enabled UK
bookmakers to conduct a virtual global revolution from the comfort of
their headquarters prior to GPT UK firms were forced to base their
online businesses offshore.
What also assists the industry is that it has no inhibitions about
utilising new technology and this creates a dynamism that few other
industries seem able to match.
Video Lottery Terminals, Fixed Odds Betting terminals, Virtual
Racing and online casinos along with sophisticated computer management
systems have pushed the industry along through the acquisition of new
gamblers as the ease of access has been improved.
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2004 Online Casino News Archive