The UK betting industry
The UK is the country that many people dream of living in. It has a first-rate quality of everything, excluding maybe the weather. Living standards are high, life is safe, people are mostly nice and the Football is top notch. What else would a pure heart desire? Well, it turns out that one other thing that Britain is incredibly good at and provides a first-rate service of is betting. So much so, that it is one of the fastest growing industries in the country, with some reports saying that it is a direct contributor of around 2.3 billion British Pounds to the economy, on a yearly basis. But these numbers might be a little underestimated, and the industry’s contribution to the economy might be a little higher than many believe. After all, all it takes is for a game to be announced and hundreds of fans head over to https://www.mightytips.com/ or another website with a similar purpose in order to start placing their bets on the teams that they think will win. Let us take a look at some of the numbers in the industry and see how big the industry actually is and how much the UK actually loves to bet on sports.
The biggest companies
The UK does indeed appreciate a good piece of risk, especially when it comes down to taking such a risk on their favorite sport. Football is by far the most popular sport to bet on in the UK. With around 400 000 problem gamblers in the UK, it is not surprising then that hundreds of thousands of people go to bed on every game or every other game every day. And if you how big the British football culture is, you cannot help but wonder if they don’t get to bed on all games that take place on a daily basis.
In order to see how much money companies are focusing on the industry. One way to find out how much money these guys are actually making is to look at the simple statistics of how much the CEO of one of these companies has made in 2018-2017, simply through the salary that she earns at the company.
The director and co-founder of Bet365, Denise Coates, was reported to have had a salary increase in 2018, which brought her final salary of the year to more than 250 million British Pounds, making her by far the person who gets paid the most for doing her job in the UK and almost anywhere else in the world. So how much must the company be making in order to be able to provide such generous rewards to the person working it? Well, the company is a global one and manages to make around 2.7 GBP per year in revenue. That is exactly the amount of money that was reported to be part of the GDP as contributed by the entire betting industry in the UK.
What does it mean
In the end, there is little to nothing that can be said about the betting industry within England that has not already been said at some point. Although it is important to consider one fact - the industry is much larger than many assume and it is only growing. With the related number of people participating in the betting on sports games and other casino-related activities, the amount of money that has been flowing through the industry is, to put it mildly, crazy. This is only indicative of what might be considered a problem for Britain, a betting problem, which might be contributing to the revenues of the company, but taking away from the spending power of the local popular contributions, negatively affecting the entire country.
This article does not necessarily reflect the opinions of the editors or management of EconoTimes.