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How much is the UK gambling industry worth?

Over the last few years, the British economy has had a particularly turbulent time with the global financial crisis barely receding before the country entered a new period of uncertainty surrounding Brexit. In this climate, a number of industries are struggling- most notably construction has had a number of slow months that don't bode well. In this climate, it'd be understandable if the gambling industry was doing poorly too but, perhaps surprisingly, the last few years have seen a considerably boost in profits!

The main driving factor of this growth has been the relaxed regulations in place since the 2005 Gambling Act which allowed the government an easier means to tax income from gambling operators and also made it easier for them to advertise and promote their business. Since then, there's been an exponential growth with a huge increase in revenue and Gross Gambling Yield (GGY) that's helped the industry bloom and boost the economy in uncertain times. Recently, there's been a tighter series of restrictions placed on advertising for gambling companies in order to keep them from being misleading - this, in addition to the recent slash in the maximum possible stake for FOBTs, is expected to have some impact on how the gambling industry does moving forward. But, in positive news, the potential closure of bookmakers on the high street is unlikely to affect the industry as a whole as the online casino sector now makes up a far larger part of it.

For more details, just have a look at this handy infographic!

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