“The BGC had long treated Labour as a Government in waiting, working closely with shadow ministers in recent years, on behalf of our members and their millions of customers.” – Micheal Dugher, Betting and Gaming Council Chair.
The Betting and Gaming Council (BGC) has announced its support for the Labour Party led by Keir Starmer, following their victory in a poll election held on 4 July, defeating the conservative party in a landslide victory.
The BGC is optimistic about Starmer’s plans to enhance Britain’s betting and gaming industry. Before the election, the new government had pledged to collaborate closely with the industry to improve responsible gambling standards, aiming to strengthen their members’ position as leaders in the betting and gaming sector.
Regulatory changes
In response to the unveiling of the White Paper in 2023, the UK’s regulated betting and gaming sector is undergoing important regulatory changes. The BGC has publicly proclaimed its commitment to incorporate evidence-based and fair recommendations outlined in the White Paper to elevate the industry’s standards and establish a regulatory framework to help economic growth.
Economic contribution of the betting and gaming industry in the UK
The betting and gaming industry in the UK is a huge contributor to the economy, creating 110,000 jobs and generating £4.2 billion (€4.9 billion) in tax revenue. In addition, it drives £7.1 billion (€8.3 billion) into the economy. BGC members also play a crucial role in funding sports such as the English Football League, horseracing, snooker, darts, and rugby league.
BritishGambler.co.uk explains: “The iGaming market is a sector that helps drive the economic growth in the UK by creating jobs, generating revenue to the government (through licenses, taxes, and other regulatory fees), and attracting significant investment opportunities”.
“Our work to drive up standards and champion a world leading British industry carries on and we look forward to partnering with Labour – as they have pledged – in this vitally important work.” – Micheal Dugher, Betting and Gaming Council Chair.
WHAT’S NEXT: SiGMA East Europe Summit powered by Soft2Bet, happening in Budapest from 2 – 4 September.
