JACKPOT OR BUST? The Future of the Casino Industry in Britain - Politicalite UK
Thursday 26th November 2020
THE FUTURE of several major industries seem uncertain with Brexit endgame, and one of the biggest revenue churners in the UK is the gambling industry.
However, like every other industry, the gambling industry is also undergoing some major changes with Brexit. It is perhaps too soon to state what turn the gambling industry of the United Kingdom shall take in future.
We could look back and reflect upon the UK's once glorious gambling industry. We could check some facts and figures and see how Britain's exit from the EU shall fare for the gambling industry.
The most important point to note here is that the gambling industry is not centrally controlled. This means that each country has its own laws and regulations when it comes to gambling.
Therefore, one might not be able to notice much difference when the UK finally leaves the EU. However, the online gambling industry of the UK shall undergo certain seismic changes.
If you are wondering why that should be the case, read through the article to know more.
THE CURRENT STATE OF PLAY
Before we go into the details of the future of online gambling and gambling in its entirety in the UK, we must look at the present scenario. The present health and status of the UK's gambling industry are in a delightful position. It earns almost £15 billion annually and has nothing to worry.
At a state as such, the Brexit must not bother the gambling industry all that much, if handled carefully. Britain also has some of the greatest gambling operators. This means that it is highly unlikely for the European Union to turn on them.
The online gambling industry in Britain is also a massive industry of its own. There are various online gambling sites akin to the USA's https://www.usafriendlypokersites.com/. It contributes significantly to the land's economy.
However, as we mentioned earlier on, Brexit is going to cause some seismic shifts in the online gambling industry. This is because there has to be a shift from the EU based operators to Britain based operators.
This shift has already started and is causing a significant amount of money to be dished out. Therefore, on the one hand, where there is not much trouble to be concerned about, on the other hand, online gambling in Britain might be a cause for concern.
More about Gambling Regulation in the UK
In this section of the article, we shall look into some of the regulations related to gambling in the UK. It is important to note the gambling regulations in the UK, so that one can gauge the impact of Brexit on the gambling industry.
There are two parts that one must understand about the UK's gambling industry. The first is that the UK is one of the most heavily regulated markets in Europe. The second is that the UK is covered for operators who are based abroad but want to operate here. These two aspects make the gambling industry of the UK one of the main industries.
Another aspect that we need to keep at the back of our minds is that the laws governing gambling activities are quite stringent in the UK. Initially, the people in the UK would bet on anything and everything.
However, the rule was changed because King Henry VIII thought that the activity was distracting his soldiers. But, with Elizabeth I succeeding to the throne, the rule was changed all over again. She approved the national lottery, and gambling once again came into the forefront.
The government, during the Industrial Revolution, also made horse betting legal among the aristocrats and criminalized it among the poor. Over time, the laws changed and were refined. Horse betting and several other forms of betting in the UK were made legal among all sections of society.
Therefore, one can say that the gambling industry of the UK has been around for a long time. It has been contributing to the economy of the land since long. The Brexit might not have much impact on the gambling industry of the UK. However, when it comes to the European Union, one might witness significant changes in the gambling industry.
The Last Call
The laws of the land concerning gambling are changing with Brexit looming large. However, with the discussion that ensued, it can be stated that the gambling industry of the UK might not have to face the brunt of Brexit.
Since the laws and regulations are not centrally controlled, there is no much need to worry about how the change in laws shall affect the casino industry in the UK. However, there is one concern that must be brought into notice.
People in the EU are fond of Poker tournaments. However, if the free movement of people is taken away, people might be less inclined to participate, and the economy might suffer. Besides this one concern, there are not many reasons for people to worry about Brexit affecting the industry.
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