International edition
September 19, 2020

Gambling Act 2005 has positive impact on industry

Internet betting and FOBTs boost UK's gambling sector

Internet betting and FOBTs boost UK's gambling sector
The gambling sector in the UK has significantly grown over the past ten years, mainly due to the rising popularity of online gambling. The liberal and forward-thinking approach that Tony Blair's administration had in terms of gambling regulation is also a
United Kingdom | 09/01/2017

The gambling sector in the UK has significantly grown over the past ten years, mainly due to the rising popularity of online gambling. The liberal and forward-thinking approach that Tony Blair's administration had in terms of gambling regulation is also another factor that has contributed to the expansion of the industry.

B

etting operators in UK territory were given the chance to access potential customers directly in their homes with to the Gambling Act 2005, which allowed online casinos, sports betting and poker TV advertising.

In addition to this, fixed-odds betting terminals (FOBTs) have made it easier for local players to place bets, marking the start of a new era by enabing punters to place bets of up to £100 every 20 seconds.

As recently reported by The Guardian, figures released by the UK Gambling Commission show that the profit generated by the fastest-growing sector has considerably increased. The gambling tax paid to the UK Treasury has also rose. The regulator praised the positive impact the Gambling Act 2005 has had on the industry’s income, with the latter being estimated to £8.36 billion in the fiscal year which began in April 2008, after the law came into force.

UK's gambling sector has massively increased its market share, with profits coming in at record £13.8 billion over the fiscal year that ended in September 2016 as a result of an increase in customer spending rates of online gambling, ixed-odds betting machines and on the National Lottery. The large profits registered by the online gambling sector can also be attributed to the fact that foreign operators have been included for the last three years.

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