- 15 Dec
Sports gambling- What are the figures?
In recent years, sports gambling has foreseen much growth. This expanding industry now stands in over a billion pounds and with prominent high street retailers scheduling the opening of further stores across the UK, revenues are predicted to increase rapidly.
Betting in football proves to be a global phenomenon. It is estimated that 70% of sports gambling takes place within football. Unlike the US and many other countries around the world, regulations in the UK are far less restricted.
The development of the internet has also made it much easier for players to gamble. There are now more apps on mobile devises making the trend far more accessible than it has ever been.
A recent study conducted by the Gambling Commission revealed that 55% of people in the UK take up gambling. The study also shows that the trend is taken up by men more so than women and that it is most common among those aged 55-64. The study also goes on to show that people are using Football Pools at least once a week to gamble.
The Football Pool began 90 years ago and has managed to expand yearly. An estimated £3.2bn in winnings have been accumulated over the 9 decades, showing its popularity
Figures also show that during major sporting events, trends in gambling increase. During the world cup in Brazil, 167 people placed a bet that Uruguay’s Luis Suarez would bite someone during the world cup. A source told ESPN that the largest sum won during this particular bet was seen in Europe, where a Norwegian winner took home an equivalent of £2,100.
In the beginning of the year HMRC published data revealing that the government took £1.7bn in taxes from betting shops from 2012-2013. The Gambling Commission additionally estimated that there were 33,284 roulette machines (better known as fixed-odd betting terminals FOBTs) in the UK. The figures disclosed suggest that the gross profit from these machines were at a record £1.42bn in 2013.
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