UK: Over 50 MPs rally behind BGC's Grand National Charity Bet drive

More than 50 MPs from both sides of the House are visiting local betting shops to place a BGC Charity Bet on the Grand National. Each MP was handed £50 ($63) to back a horse in the famous steeplechase, with all the winnings going to a charity of their choice.

Even if their horse doesn’t come in, BGC members will be making a £250 ($314) donation to the MP’s nominated charity, "ensuring no one misses out."

Last year’s Grand National charity bet drive raised just under £11,000 (approximately $14,000) for a range of good causes.

MPs were invited to visit either a Paddy Power, William Hill, Ladbrokes, Coral, Betfred or local independent betting shops JenningsBet, Corbett Bookmakers, and others, in their constituency to place the charity bet, organized by the Betting and Gaming Council (BGC), the standards body for the regulated UK industry.

The annual race at Aintree, Liverpool, is the most popular horserace in the world, and this year takes place on Saturday 13th April. It is watched by around 600 million people across 140 countries, with an estimated 13 million adults in the UK placing a bet on it.
According to industry research conducted by the BGC, approximately £250 million ($314 million) will be staked on the main event.

The Grand National is expected to generate £3 million ($3.7 million) in tax revenues for the Treasury and £2 million ($2.5 million) in horse racing levy to support the sport.

"It is an occasion like no other and demonstrates once again sport’s unique ability to bring the whole nation together. Betting shops support tens of thousands of jobs, bring vital revenue to the UK’s hard-pressed high streets, and support the national and local economies through tax and business rates. They also provide vital community for millions of betting and gaming fans,” Betting and Gaming Council CEO Michael Dugher, said.

“I also want to say a huge thanks to the many MPs who have made the time and effort to meet with their local constituents working in high-street shops; for supporting so many good causes and local charities and for promoting the Grand National, which remains one of Britain’s biggest and best cultural and sporting events seen around the world,” he added.

During visits, MPs heard from staff about the range of safer gambling measures available to customers in bookmakers. An Independent analysis carried out by Serve Legal and quoted by the BGC found UK betting shops have better age verification checks than convenience stores, supermarkets and petrol forecourts.

Betting shops support 42,000 jobs on the UK’s hard-pressed high streets, contribute £800 million ($1 billion) a year in tax to the Treasury and another £60 million ($75 million) in business rates to local councils, according to the trade body. A study by ESA Retail also found that 89 percent of betting shop customers combine their trip to the bookies with visits to other local businesses.

The regulated betting and gaming industry already makes a huge economic contribution throughout the UK, with a recent report by EY revealing BGC members support 110,000 jobs, generate £4.2 billion ($5.3 billion) in tax and contribute £7.1 billion ($9 billion) to the economy in gross value added.

They also help fund horseracing to the tune of £350 million ($440 million) through sponsorship, media rights and the betting levy, provide £40 million ($50.3 million) for the English Football League and its clubs and millions more for rugby league, darts and snooker.