According to a new report by Richard Tyler in the UK’s Telegraph, online gaming innovations have played an important part in the country’s recovery from the global recession. According to Tyler, technological innovation is closely linked to economic growth, and the UK has pushed forward in varying technological fields to help the country distance itself from the recent economic crisis.
Currently, the UK arguably one of the most popular online gambling markets in the world, with hundreds of operators basing themselves in the country. This is because the United Kingdom was the first country to truly embrace the prospect of offering online gambling to its residents, giving the country a head start over others that would soon emerge in the industry. Because an online gambling hub exists in the UK, operators come from around the world to get into the market, greatly contributing to the country’s economy. Incessantly
Unlike many other fields of technological innovation, online gambling makes a direct contribution to the country’s economy. Because the activity is regulated and online casino operators are taxed, the UK’s government earns an impressive amount of tax revenue from the online gambling industry. This model has been adopted in many other countries that are looking to boost their economies, such as Greece and Canada, and is setting an example for those in financial need like the United States.