The impact of gambling on the UK economy
It is well known that the gambling industry had its ups and downs since the recession began. Land based casino owners and online casino software providers faced challenging times, even though the betting industry is becoming more and more popular nowadays.
A report conducted by Deloitte regarding the gambling industry in the UK actually demonstrates that the betting and gaming industry is bringing positive value to UK’s GDP (Gross Domestic Product) and is responsible for a healthy growth of employment. The industry contributes economically and socially at the same time, having an impact of more than £5 billion of GVA (Gross Value Added) on the UK economy.
A set of weak points have also been revealed in the report, such as the point of consumption tax, which affects the gaming software providers, meaning that the tax will be paid for all bets made by clients in the UK, regardless of the location of the online casino software development company. Also, moving to offshore gambling provided a negative impact on the Licensed Betting Offices (LBO’s), considering that gaming machines are becoming less popular than they were before the economic crisis began.
The popularity of land based casinos and online casino software providers, such as “CasinoWebScripts” is expected to increase in the next few years, bringing huge benefits to the economy.
The first step towards starting an online casino which operates with real money is obtaining an online casino license. The products that we sell might require a casino/gambling license depending on the jurisdiction in which...