In the next few years it’s expected that the revenue in gambling and betting activities is going to suffer a significant decline.
Read the article to know more.
According to statistics made to study the gambling industry throughout the years, it was revealed that the revenue in the industry will drop by 17% by 2024.
The data gathered allowed to calculate the revenue for the upcoming years. In 2020 expectations are set to £63.76 billion revenue and will drop in 2022 to £61.48 billion. In 2023 and 2024 there will be a drop of 2.9%, from £57.60 to £56.30 billion.
Since 2012, the gambling and betting revenue, that includes casinos, lotteries, bingo halls and online gambling has been dropping because of some changes in the country’s gambling laws. From 2012 to 2014, the revenue had a crash of 18,4%.
But why was this industry so affected? Simple, the UK Government and local gambling regulatory bodies have been implementing some changes in the sector. Because of this, some of the biggest gambling affiliates lost significant value in the stock market.
Since the laws are always changing in order to protect the customers from possible gambling-related harm, it’s expected that the revenue will continue to drop each year. In 2019, the Government decided to limit the maximum bet in FOBT (Fixed Odds Betting Terminals) by £2. This change and the usage block of credit cards for all gambling transactions affected negatively the gambling world, not only for the customers but also for the bookmakers and its overall economy.
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