Peers Report On Gambling Pure “Fantasy” Says BGC Boss

A report commissioned by the Peers for Gambling Reform and conducted by Nera Economic Consulting has said that gambling in the UK costs the tax payer £1.2 billion a year.

According to the findings £760 million of the total is cost to the National Health Service in treating problem gambling and the remaining £410 million is created by crime, joblessness and homelessness related to gambling.

However experts have questioned the huge range of estimate on this as the report says it is from £50 million up to £410 million, saying it is an exaggerated amount on no clear evidence.

The Peers for Gambling Reform are calling for changes to the way gambling is conducted in the UK with a cap on stakes gambled from £1 to £5 per play.

Also an affordability check on a maximum of £100 per month per player or somewhere between 10% or 205 of a person’s disposable income.

A mandatory levy on all gambling companies of 1% to fund research and treatment of gambling addiction and a sports sponsorship ban.

The report says it would impact the gambling industry by £696 million and £974 million annually should these reforms take place.

Lord Foster of Bath, chairman of the Peers group, said: ‘This report shows that if steps are taken to reduce gambling harm there will be clear net benefits to the economy in terms of tax revenue and additional jobs.’

It is said in the report by making these changes gamblers will move their spending to more labour intensive leisure activities such as eating out and create some 30,000 new jobs and increase employee earning by £400 million.

Michael Dugher, chief executive of the Betting & Gaming Council, said the report was pure ‘fantasy’.

He went on to say: ‘A minority of peers may look down their noses at the millions of working people who enjoy a bet but the truth is that the overwhelming majority do so perfectly safely.’