BGC Supports Labour's Landslide Victory

The Betting and Gaming Council (BGC) has expressed its support for Labour's significant victory in the recent General Election, emphasizing a collaborative effort with the new government to foster a world-class betting and gaming industry.

Labour achieved a decisive win on Thursday, July 4, marking a substantial political shift. Before the election, Labour's manifesto highlighted its intention to partner with the industry to enhance responsible gambling standards, reinforcing the UK’s reputation as a leader in the betting and gaming sector.

Commitment to Regulatory Reforms

Following the publication of the White Paper in 2023, Britain's betting and gaming industry experienced its most extensive regulatory reforms in decades. The BGC and its members are dedicated to implementing the evidence-based, balanced proposals outlined in the White Paper, which aim to elevate industry standards and provide a robust regulatory framework conducive to economic growth.

The comprehensive reforms, supported by both the BGC and Labour, include measures to bolster protections against problem gambling and related harms. Key initiatives include a statutory levy to address problem gambling, the establishment of an Ombudsman for improved consumer redress, seamless financial risk checks for online activities, new stake limits for online slots, a Sports Sponsorship Code, and essential modernizations for the land-based casino sector.

BGC's Future Collaboration with Labour

Michael Dugher, Chair of the Betting and Gaming Council, stated: “On behalf of our members, the 110,000 individuals employed in the regulated betting and gaming industry, and the 22.5 million people who place bets each month, we welcome Labour’s victory and its commitment to continued collaboration with the industry."

Dugher highlighted the sector's significant contributions to various aspects of the economy, from high street bookmakers to leisure and tourism through casinos, bingo halls, and the tech industry, where UK companies are global leaders. He emphasized the industry's role in fostering growth, job creation, and investment nationwide, noting the importance of political stability for sustainable planning and investment.

He continued, “BGC members are navigating the most significant regulatory changes in a generation following the White Paper's publication, supported by Labour. With the election concluded, our members now have the political certainty needed for future planning and investment."

Dugher also underscored the industry's efforts to implement world-class standards and protections for vulnerable individuals, contrasting the safety of the regulated market with the risks posed by the unregulated black market. He affirmed the BGC's commitment to working with Labour to balance the regulatory changes, protecting the vulnerable while allowing responsible betting to continue without undue interference.

Ongoing Efforts and Economic Contributions

The BGC has long engaged with Labour as a prospective government, collaborating with shadow ministers to represent the interests of its members and millions of customers. Dugher reiterated the BGC's dedication to maintaining high standards and supporting a leading British industry, anticipating a strong partnership with Labour to achieve these goals.

The UK’s regulated betting and gaming industry supports 110,000 jobs, contributes £4.2 billion in taxes, and adds £7.1 billion to the economy. Additionally, the industry provides essential funding for popular sports, including £40 million to the English Football League and its clubs, £350 million to horseracing, and over £12.5 million to snooker, darts, and rugby league.

Each month, approximately 22.5 million adults in Britain place bets. The latest NHS Health Survey for England estimates that 0.4 percent of the adult population are problem gamblers, highlighting the importance of ongoing efforts to promote responsible gambling and safeguard vulnerable individuals.

Source:

BETTING AND GAMING COUNCIL WELCOMES LABOUR GOVERNMENT AND COMMITS TO WORKING TOGETHER TO DRIVE ECONOMIC GROWTH AND CHAMPION STANDARDS ON SAFER GAMBLING, bettingandgamingcouncil.com, July 5, 2024.