At the annual meeting of the Betting and Gaming Council (BGC) held at the Institute of Civil Engineers in London, UK Gambling Minister Baroness Twycross delivered a speech acknowledging the significant economic contribution of the gambling sector. Addressing over 150 guests, she highlighted how the sector not only generates substantial tax revenue and employment but also serves as a relevant leisure activity, exemplifying with horse racing, bingo, or arcades at coastal areas.
Baroness Twycross underscored that BGC members annually contribute £6.8 billion to the economy, provide £4 billion in taxes, and support 109,000 jobs. She particularly emphasized the Cheltenham Festival, an event that attracts more than 250,000 fans and exemplifies the excitement a day at the races can bring, in addition to reporting a transformative economic impact estimated at £274 million to the local economy.
However, she warned about the risks facing the sector, including the misguided convictions of anti-gambling lobbies and the growing black market. These factors not only threaten the industry's sustainability but also the integrity of sports and consumer well-being. At a time when access to unregulated betting operators has surged exponentially, she called for balanced regulation that protects the interests of both the industry and consumers, thus preventing the proliferation of illegal operators who currently represent a significant portion of the market.
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