Post by Thomas Shannon.
As anyone living in the country will be only too aware the UK economy is not in the best of health just now – with little growth and high levels of unemployment throughout much of the country. However there is one industry which is bucking the wider trends of recession and stagnation, and that is the online casino and gambling sector. This continues to grow, despite the grim economic circumstances around it, to the point where some are suggesting that it can be a real help to the wider UK economy.
It would be difficult to single out one area of the online gambling market in the UK for praise. Everything from casino gaming at places to sports betting is enjoying impressive growth, including the expansion into the developing mobile device sector, with mobile betting sites. So how exactly can this aid in bringing about a wider economic recovery? Well as well as the revenue generated by this industry it is reckoned to be anywhere between 2 and 6 billion pounds a year. It isn’t hard to see how this could benefit the wider economy.
However this is not the only way the burgeoning online gambling industry can help with the UK economic recovery. The growth of this sector also means increasing numbers of employment opportunities within it. Already the gambling sector contributes 38,000 jobs and with its continuing expansion, it would be hard to see these figures doing anything other than rising over the next few years. Increased employment leads to people spending more, thus stimulating economic growth. So between this and tax revenues, the gambling industry can help the UK economy to a significant degree.