The Betting and Gaming Council has stated customer involvement in the UK gambling and betting market has “plummeted” in the wake of lockdown sanctions, and the widespread cancellation or postponement of major sporting events.
Updating member operations on safer gambling measures during the crisis, the association warned that with 75 percent of the country’s sports betting market built around football and horse racing the industry is facing a critical financial challenge. “Levels of gambling have plummeted,” said Betting and Gaming Council CEO Michael Dugher. “Not just because of betting shop closures but because of the absence of sport, which is fundamental to online betting.”
Sports betting across both retail and online was responsible for UK operators recording $1.4bn of revenue during the 18/19 financial year, and though virtual sport events such as the recent Grand National are still able to go ahead, the virtual market contributed just 13 percent of revenue during the same period.
The BGC observed the fall in bookmaking revenue while announcing a new ten point plan outlining the “standards expected of our members during the Covid-19 pandemic.”
“In this time of national crisis, with so many people self-isolating and social distancing at home, it is vital that we do everything possible to ensure safer gambling.”