A March 2021 report from the Social Market Foundation presents analysis of the economic benefits of gambling to the economy and society. It includes the base agreed figures such as numbers employed and tax paid.
It concludes:
- The economic analysis presented in this report is clear: while gambling supports tens of
thousands of jobs across the UK and contributes about £8bn per annum to economic
output directly, it seems very unlikely that this economic contribution is truly additional
to what would have taken place if gambling did not exist. Indeed, with most other parts
of the economy having more extensive supply chains, and thus higher economic
multipliers, reductions in gambling expenditure through reduced rates of problem
gambling would almost certainly be a net economic benefit as households instead spend
money elsewhere. The Exchequer would gain too, as higher GVA and jobs in turn drive up
tax receipts
• This has strong implications as far as the case for regulatory reform is concerned. While
some are calling for timid reforms – citing concerns about the negative economic impact
of reduced gambling spend – our analysis suggests that this argument does not stand up
to scrutiny once one considers the fact that problem gamblers would instead spend
money elsewhere. Far from being a case for timidity, the economics of gambling –
presented in this report – are in fact a case for bold, robust and significant regulatory
reform. Done right, there is scope to both reduce the societal costs of problem gambling
and realise economic gains.
For those supporters and promoters of the gambling industry whose constant demands for evidence may appear to be little more than based on rigid sloganising, one may await hopefully a reasoned, rational, evidence-based, data-derived response to the report which is here: Double-or-nothing-March-2021
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