The report highlights the tech-innovation sector’s significant contribution to “levelling up” the British economy outside of London.
The gaming sector, which already employs 10,000 high skilled jobs and supports an additional 30,000 positions, is expected to drive future growth primarily outside of London. Currently, over two thirds of these jobs are located outside the capital, with the West Midlands alone accounting for 20,000 positions.
Notably, specific communities like Leeds (home of Sky Bet) and Stoke-on-Trent (home of Bet365) have greatly benefitted from the presence of BGC (Betting and Gaming Council) members.
In total, regulated betting and gaming in the UK support 119,000 jobs and generate £4.5bn in revenue for the public purse. The industry aims to create an additional 15,000 high paid, high skilled jobs.
However, poorly conceived regulation that hampers business and threatens jobs could impede this growth. The ongoing Gambling Act Review poses potential significant changes to the country’s gambling industry.
Considering the economic and social challenges such as the cost of living crisis and the aftermath of Covid-19, responsible organizations in the industry play a crucial role. These organizations are committed to creating 5,000 apprenticeships by 2025 and investing £20m in training and development programs.
The regional presence of betting and gaming companies, their significant representation on local high streets, and their close ties to vital sporting events contribute to the sector’s role in leveling up the UK. However, modernization of the regulatory framework is necessary to balance both economic impact and tighter restrictions to protect vulnerable consumers.
