Despite the heavy regulatory clampdown, the UK gaming industry is on track to create thousands of new opportunities to support economic development.
UK gaming sector is on track to create 15000 jobs by 2025
The “levelling up” report by the Purpose Coalition says the British Gaming and Betting Council is set to create 15000 new employment.
The industry i-Gaming sector has already created 10000 technical jobs and supports 30000 other non-technical roles.
The report further cited that most opportunities will target local communities outside London. So far, West Midlands’ select cities have been a beneficiary of 20000 jobs.
All the companies under the umbrella of the UK Betting and Gaming Council (BGC) will contribute to creating new jobs. Two organizations are in the middle of this social and economic development. Entain Gaming and Bet365 have already created 5,7000 employment in Stoke and Leeds, where they are based.
The entertainment and technology development shows the gaming industry’s continuous relevance to the British economy. In all, BGC members have created 119000 technical and non-technical roles, and they are set to add £4.5billion in revenue to the country’s purse by the end of the year. This is good news concerning the fact that jobs were previously lost within the industry.
British Gaming Companies Are Creating More Than Jobs
The betting and gaming industry’s contribution to the UK economy transcends job creation. For example, more than 65% of the projected job will be about apprenticeship, training, and workforce development. Bookmakers have pledged to spend north of £20 million on the program.
The training program is coming on the back of millions of pounds already invested in various empowerment initiatives.
As part of their effort to give and get returns back to society, many betting powerhouses also encourage their workers to contribute to their local communities and participate in charitable services.
Harsh Regulation Could Mitigate New Job Opportunity
The Chief Executive of BGC, Michael Dugher, has warned that the incoming gambling reform may stand in the way of the jobs and other initiatives promised by the betting companies.
This becomes important as a new regulatory framework that will shape the gaming industry fundamentally is in the works. The terms of the new policy are still unknown. However, there is a rumour that the reform will be unfavourable, as the British government continues its strive to provide a safe environment for its citizen.
Thankfully, major industry stakeholders buy into the idea and have expressed the importance big organizations play in combating post-pandemic economic challenges. A recent UKGC survey highlighted that problem gambling has reduced to 0.2%, which means operators are doing their due diligence to promote safe gambling.
There is fear that harsh gambling regulation might limit gambling operators significantly. This will reduce the gambling industry’s revenue and hinder them from fulfilling their pledge. A stringent gambling regulation may also increase the rate of irresponsible gambling on the black market as bettors seek other ways to explore their interests.
Wrapping Up
Many gaming operators are adopting an entertainment-first approach to curb the spread of gambling addiction. For example, there are now free spins at UK online casinos, enabling players to punt without spending a dime. Hopefully, the new reform will be friendly and support gaming companies in their plans to create new employment and other opportunities.
