Friday, September 25, 2009

British remote gambling industry worth US$1.4 billion - Swiss Press

The Gambling Commission released the results of detailed research showing that the remote gambling market in the nation was worth US$1.4 billion last year. In compiling its figures, the regulator revealed that it took detailed statistics from a range of sources including gambling industry trade bodies, the Department for Culture, Media And Sport and Her Majesty’s Revenue And Customs.

In addition, it stated that a ‘substantial’ amount of information was taken from
regulatory returns that all licensed gambling operators must submit on either an annual or quarterly basis.

The Commission stated that the UK gambling industry had a turnover of over US$136
billion in 2006/07 with gross gambling yield at around us$ 16 billion, one-quarter of
which was generated by the National Lottery.

The regulator revealed that the number of remote gambling licenses issued in 2008 rose from 300 to 328 with the majority of these consisting of betting exchanges alongside pool and general betting. “The majority of gambling sites accessible to British citizens are regulated overseas,” read the Commission’s results.

“In many cases an operator is licensed by the Commission for remote betting but (for
fiscal and other operational reasons) its remote casino and poker operations are
licensed overseas. The main European overseas jurisdictions regulating remote gambling are Alderney, Gibraltar, the Isle of Man and Malta.”

The Commission stated that the UK remote betting, bingo and casino industry employed
7,800 people in the country last year and had 6.2 million active customer accounts with 4.9 million new player registrations. It reported that there were a total of 16 million customer accounts holding around us$ 416 million.

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