The UK Gambling Commission (UKGC) has published the latest industry figures and the numbers look promising. The statistics have been posted for five years from the time period from April 2009 to March 2014. It has also posted provisional figures for April 2013 to March 2014 business year.
The numbers and figures
As per the numbers, the gambling industry in Britain has been growing steadily and did a business of £6.8bn last year. The number shows a growth of 6 percent compared to previous business year’s yields.
Casino business with remote betting and bingo have shown the most growth with 15 percent growth over last year. Betting, arcade games and society lotteries have also shown growth. Betting shops are also doing good business as per the report. However, the employment figures in the industry have shown a drop from the previous year. Where the industry employed more than 100,000 people last year, this year’s number show a decrease by some 5000. This is also the first report by UKGC where numbers from National Lottery are also mentioned.
The job of the Gambling Commission
UKGC regulates all gambling operations in the UK along with other co-regulators. The Commission is tasked with job of ensuring fair betting practices and to keep criminal betting activities under control. The UKGC also makes sure that children and other people are safe from unfair or harmful gambling practices. The Commission also helps the government with all aspects of the gambling business by providing information and advice.
The Commission also regulates gambling and licensing in the UK along with local authorities. In November 2014, there was a new gambling act introduced and now the rules are that all gambling businesses in the UK must obtain their licenses by the UKGC. They also need to provide profit and loss figures to the Commission and the same would be published along with all the other statistics.
This move to publish all reports and to also publish another version of the report in Excel has been made so that more transparency can be brought to the gambling business.