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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 government’s 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 industry’s willingness to adopt new technology.

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.”

Read the entire article at: Leisureopportunities.co.uk 

2004 Online Casino News Archive

 

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