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Deloitte: UK gambling sector 'worth £6bn'
New research carried out by professional services firm Deloitte on behalf of Ladbrokes has revealed that the betting industry is worth an estimated £6bn to the UK economy each year.
The Full Picture, which aims to provide a quantitative and qualitative study of the gambling sector, has found that the economic contribution made is equivalent to 0.5 per cent of the UK's gross domestic product (GDP). According to the report, the industry is also responsible for providing 15 per cent of horseracing's annual income, while also supporting employment for workers with little or no qualifications.
Simon Oaten, betting and gaming lead at Deloitte, said: "The betting industry makes a significant contribution to the British economy - but is subject to intense international competition. "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."
Ladbrokes chief executive Christopher Bill added: "This report comes at a crucial time for the industry and will help inform the government and stakeholders about the important contribution the industry makes to employment and taxation in these difficult economic times."
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