The chair of the Betting and Gaming Council (BGC), Brigid Simmonds, has warned that the upcoming review of the Gambling Act and the introduction of a white paper could have negative effects on the UK’s gambling industry and investment in it. In an opinion piece written for Conservative Home, Simmonds argued that the British betting sector is currently under pressure from the possibility of stricter regulations, which, paired with increasing costs, could lead investors to avoid the UK market.
Overlooking the Economy
Simmonds wrote that gambling businesses are “operating with one eye on the long-awaited government review”, and that the UK economy is being overlooked due to the “noisy rows” of the White Paper debate. She explained that the increasing hostility towards the industry is causing some of the largest members of the BGC to pursue opportunities in other countries, such as the US and Brazil, as these markets understand the positive impact of investment from betting and gaming on public finances.Simmonds also pointed out that an “anti-gambling lobby is exploding across the land”, which is causing UK betting and gaming firms to look to the US, where regulated gaming has created a lot of opportunities. For instance, Entain runs a partnership venture named BetMGM with a well-established American company MGM Resorts, bet365 is operating in the states of Colorado, New Jersey, and Massachusetts, and Betfred US is also present in the United States.
Protect the Nation’s Gambling Industry
Throughout the article, Simmonds argued that “myths” are feeding into “commonly held narratives that are fundamentally incorrect” and advised lawmakers to look at examples from other countries in order to protect the nation’s gambling industry and its players. She also warned that legislators risk driving customers towards unregulated operators with measures such as blanket affordability checks. A study conducted by EY for the BGC found that 70% of bettors would be unwilling to allow regulated operators to conduct such checks to prove they can afford to wager.