With recessions and a financial crisisreally starting to bite, a lot of industries are suffering lately. High profile shops and businesses are closing their doors amid a sea of economic uncertainty, so it may surprise you to find out that in this climate the gambling industry has actually been doing extremely well! The main driving factors have been the relaxing of regulations and neater tax laws, established in 2005, combined with a strong competitive atmosphere to see who has the best online casino – which has been to the benefit of punters!
As the industry has grown, a number of mergers and a changing of the landscape has meant that the future now appears somewhat more uncertain for the gambling industry. Most recently, the UK government has imposed a reduction in the maximum stake allowed at a Fixed Odds Betting Terminal (FOBT) – this reduction is from £100 to £2 and is likely to have an impact on the profits seen by bookmakers. William Hill in particular has been vocal that the reduction will lead to large scale closures of high street shops. But the good news is that, as a proportion share, high street bookmakers are no longer the biggest market share and the future seems to lie on the internet. For details, just check out this infographic!