Sunday, April 14, 2024

Betting on hockey and sports still a booming industry post-Brexit

With the British pound taking hit after hit after last year’s decision to Brexit, and the hint of a hung government last week, many industries and their companies are thinking of leaving the UK. However, the gambling industry will not be joining them following recent reports of its thriving business. Deloitte have found that betting in the UK contributes £2.3 billion towards the national GDP.

A significant part of this comes from sportsbook casinos, wherein fans of sports like football, basketball and rugby can place their bets on profitable wagers. Hockey has also risen in popularity among these bookmaker casinos, to the extent that it now features in many of them on-par with sports like football.

The success of sportsbook casinos and the gambling industry is attributed to the strict regulation system imposed by the UKGC (United Kingdom Gambling Commission). Casinos emigrate towards such environments as it offers their financial standing more security and legitimacy.

Of course, the UKGC and the British government can then tax said companies in order to profit the overall economy. Following Brexit, taxation levies have increased but the bookie casinos have stayed put, once again proving the gambling industry to be one of the most stable in Britain at the present time.

Other countries who have failed to impose regulation are losing millions annually. According to casino review site, one such country is Canada. The news article states that Canada loses over $4 billion a year via offshore sportsbooks, some of them located in the UK, especially when it comes to ice-hockey betting. Sportsbook casinos found in Britain, as well as other places like Antigua, Malta and Isle of Man, offer more favorable wagers and odds.

Betting on hockey, as well as other popular sports, has proved to be of financial gain for the UK. Especially when gamblers from other countries like Canada also invest in offshore bookie sites like the ones found here.

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