Online Casino Transfer: News - Deloitte Provides Full Picture

03/05/2010		Online Casino Style: News Deloitte Provides Full Picture
Home History Games News Dictionary		There’s no denying that the online gambling industry is huge. And the most recent report on the industry in the United Kingdom reinforces that reality with undeniable statistics. The study, commissioned by internet casino group Ladbrokes, was completed and released by the professional business services provider Deloitte. The study has been titled ‘The Full Picture’ and provides a comprehensive look at the UK online gambing sector, and its influence on the local economy. In the UK alone, the online gambling industry generates £6 billion in revenue each year, summing up to a half of a percent of the nation’s total gross domestic product. The betting sector also provides more than 100,000 jobs directly and indirectly, accounting for 0.3 percent of the total employment in the region. The wages corresponding to jobs in the betting world equal as much as £700 from retail betting alone, with another £800 set aside in profits. Taxation benefits a cool £700 for the government, courtesy of generous levy rates on online gambling companies. The Deloitte report managed to take a look both directly at the numbers generated by groups, and looking at the larger picture, taking into account the influence the growing industry has on providing jobs elsewhere- like in the regulatory bodies, and affiliate partners. Socio-economic policy objectives across the board were analyzed, highlighting just how influential the internet casinos are in the UK. For example, the study demonstrates that jobs are provided to a significant number of workers with few to no qualifications, filling in gaps for skills development and employment opportunities that are hard to come by. As low-level employees are trained and move on, the turn-over rates provide opportunities for many. “The betting industry makes a significant contribution to the British economy but is subject to intense international competition,” said Simon Oaten from Deloitte. “With Internet and mobile betting growing, the challenge for government is to balance effective regulation with creating the conditions for the domestic industry to compete.”

03/05/2010

Online Casino Style: News
Deloitte Provides Full Picture

There’s no denying that the online gambling industry is huge. And the most recent report on the industry in the United Kingdom reinforces that reality with undeniable statistics. The study, commissioned by internet casino group Ladbrokes, was completed and released by the professional business services provider Deloitte. The study has been titled ‘The Full Picture’ and provides a comprehensive look at the UK online gambing sector, and its influence on the local economy.

In the UK alone, the online gambling industry generates £6 billion in revenue each year, summing up to a half of a percent of the nation’s total gross domestic product. The betting sector also provides more than 100,000 jobs directly and indirectly, accounting for 0.3 percent of the total employment in the region. The wages corresponding to jobs in the betting world equal as much as £700 from retail betting alone, with another £800 set aside in profits. Taxation benefits a cool £700 for the government, courtesy of generous levy rates on online gambling companies.

The Deloitte report managed to take a look both directly at the numbers generated by groups, and looking at the larger picture, taking into account the influence the growing industry has on providing jobs elsewhere- like in the regulatory bodies, and affiliate partners. Socio-economic policy objectives across the board were analyzed, highlighting just how influential the internet casinos are in the UK. For example, the study demonstrates that jobs are provided to a significant number of workers with few to no qualifications, filling in gaps for skills development and employment opportunities that are hard to come by. As low-level employees are trained and move on, the turn-over rates provide opportunities for many.

“The betting industry makes a significant contribution to the British economy but is subject to intense international competition,” said Simon Oaten from Deloitte. “With Internet and mobile betting growing, the challenge for government is to balance effective regulation with creating the conditions for the domestic industry to compete.”