BGC Appeals for Fair Treatment of Betting as UK Economy Strengthens

Despite the positive economic news, BGC CEO Grainne Hurst is concerned that key sectors, including gambling, might not receive the support they need to continue growing in this new economic climate.

Hurst acknowledged the growth figures but noted that many businesses, particularly those in retail and hospitality, are already facing mounting challenges due to rising employer National Insurance contributions and business rates. The increase in employer National Insurance rate and the lowering of the earnings threshold for payments from £9,100 to £5,000 are making it harder for companies to manage costs related to hiring and workforce planning.

Highlighting the importance of the gambling sector, Hurst pointed out that it is already under pressure from the government’s plan to harmonise gambling taxes. The government is proposing a unified tax system to replace the current system. The result will likely be a higher tax burden for gambling businesses, which are already stretched by rising operating costs.

Hurst stressed that these challenges are particularly significant for the retail betting sector, which still represents a large part of the gambling industry in the UK. With online gambling becoming dominant, the BGC sees this as an opportunity to show that traditional betting shops have transformed.

As Hurst put it, the betting shop of today is “more like a coffee shop than the traditional bookie from 10 years ago.” To showcase this transformation, Hurst invited Gambling Minister Baroness Twycross to visit some betting shops in person, in hopes of demonstrating the positive changes the industry has undergone.

“Many of our members welcomed the recent growth figures,” said Hurst. “We want to support the Chancellor and play our part in the government’s growth agenda. But if Ministers really want to see growth, they have to back every industry and every sector, especially the world-leading betting and gaming industry.”

Hurst’s message to the government was clear: if the UK wants to continue to see growth and job creation, all sectors, including betting and gaming, need support.

“Supporting every industry, including betting and gaming, is essential for maintaining economic momentum,” Hurst concluded.

This comes as HMRC has launched a public consultation on proposed changes to gambling duties, inviting industry feedback on the potential impact of a unified tax regime source.