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BGC Emphasizes Importance of Betting Sector’s Funding for Sports

20 November 2020, 17:27
Votes: 1

As the UK government’s possible proposal to impose heavier ad restrictions is much discussed in the news about the betting sector, the BGC (Betting and Gaming Council) has taken the opportunity to remind it about the benefits that sports get from the market.

BGC Emphasizes Importance of Betting Sector’s Funding for Sports

It has been recently informed that PMs are going to reconsider gambling regulations and improve them in the nearest time. The government has got many proposals, the majority of which won’t influence the bookmaking market positively. It is expected that the upcoming law will touch not only upon slot design and bet limits but will also restrict gambling advertising considerably.

“Sectors would not exist without the sponsorship”

The BGC has decided to cushion the blow from the ministers by highlighting the fact that the sports sector relies much on the betting market. The Council Chief Executive has said that current funding is extremely supportive for some sports as many of them have hard times. The major reason for this is the absence of visitors during events.

In addition to this, the BGC members have noted that tight restrictions will only lead to bettors’ switch to the black market. It will mean the loss of the regulated market’s revenue and control over its audience, which may result in negative consequences for both the state coffers and consumers. It is also important to remember that the English Football League gets £40 million every year from the industry. Moreover, not so long ago, operators supported the idea of extra fees on the horse racing vertical to help it during this difficult period.

Read more: Betting on sports and its opportunities

Read more: Peculiarities of online betting on horse racing

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