The UK Gambling industry remains an important part of the country’s economy as it contributes more than 2.3 billion pounds. Presently, the country has two poker clubs and 140 casinos with the UK operating 690 bingo clubs – it’s safe to say that the gambling industry is adding real value to the British GDP. Over the years, the Gambling Commission has conducted three studies, the first one was in 1999, the second being in 2007 and the third in 2010.
According to the data obtained, one can safely say that the gambling industry is well-known in Great Britain. Based on a recent study, three-quarters (73%) of UK adults aged between 16 and above engage in gambling. Australia on the other hand, due to its liberal handling on gambling, is somewhat different, however there are similarities. The UK and Australia both offer a number of services which enhance the gambling experience for all gamblers. Down under, online casinos are more popular than in the UK, which at one point in the past was the forerunner of the bookmakers.
Unfortunately, new online bookmakers don’t have the same pressure from competitors. Annually, Australian gambling revenues account for 7.3 billion US dollars. Australia’s legalisation of gambling has created a legion of casino players which has in turn given birth to disadvantaged groups. Currently, the Australian government is trying to limit online gambling due to its unparalleled popularity in the country, according to world studies, 80% of adults in the country are playing at online casinos. The country alone is seen as a leader in the number of online game offers.
According to a study, annually, Australians spend $19 billion on gambling entertainment alone. In terms of the gambling market turnover, Britain still remains the leader with a 2 billion pound value which is astounding due to the fact that the industry is still in the development stage. In 2014, a taxation law was passed which affected sensational online gambling players. The law was put in place in the hopes of minimizing the loss of taxes due to offshore gambling. Gambling establishments which aim to offer services to online casinos in the UK or advertise their services must obtain a license from the Gambling Commission while paying a consumption tax which will be 15% of the company’s revenues.