A new report released by Ernst & Young (EY) for the U.K. Betting and Gaming Council concludes that a threat to the industry exists from affordability checks, the responsible-gaming-based practice of examining proof of a customer’s income to determine how much that customer can afford to gamble.
The report says tougher affordability checks have caused lost revenue, which coincides with recent polling that found 70 percent of bettors are unwilling to allow operators to conduct checks of their finances.
EY’s research found that the online gross gambling yield for the industry has decreased since mid-2021, stating the reopening of land-based venues, affordability checks and the decline in household income as potential causes behind this downturn.
“The UK’s regulated betting and gaming sector is a genuine global leader,” said Michael Dugher, CEO of the Betting and Gaming Council, according to iGaming Business. “Some 22.5 million adults enjoy a wager, on the lottery, on bingo, on any number of sports, online and in casinos.
“Our members pump billions into the economy, support the Treasury with more billions and support over 100,000 jobs. But this contribution is never guaranteed. This industry needs to thrive if it is to maintain its status as a global leader.”
Dugher added that total gross contribution to the U.K. economy was £7.1 billion, with the industry supporting 110,000 jobs.
“As ministers consider the regulatory framework for this industry, they should stop and think, and ensure the decisions they make support a sustainable future,” said Dugher. This is a sector that is ready to invest, on hard-pressed high streets through bookmakers, in tourism and hospitality through world-class casinos and online where our tech giant members are looking to increase the number of apprentices they hire.
“We urge the government to find an evidence-led, balanced white paper that protects the vulnerable, allows the vast majority who bet safely to continue to do so, and crucially allows business to thrive.”
