The data given by the Office for National Statistics in the UK has revealed that traditional betting shops are losing ground on the streets of the country. That’s according to the seven-year period figures released by ONS at the ending of 2017 and beginning of 2018.
Nevertheless, the data varies highly from one place to another with some parts remaining stable while others buck the trend fully with huge amounts of growth.
Big swathes of gambling shops have closed after the rise of online gambling. Insiders in the industry are blaming two factors; growth of internet gambling and an increase of expenses of rent.
The information shows how the opening and closing of gambling venues is probably associated with some particular policy changes including those presented by the government.
33% of Profit from Internet Gambling
The CEO of Etches said that betting is shifting from the streets to the web where gambling remains the same. Also, there is a huge concern on the quantities of money that players can lose online.
About the closing premises, it is felt that around seventy-five percent of them are gambling shops while the other quarter is divided between beguilement arcades and gambling clubs.
The Association of British Bookmakers has insisted that the challenges faced by gambling venues and shops are due to the greatest sum permitted for betting on FOBTs – Fixed Odds Betting Terminals which has been reduced from £100 ($131) to £2 ($2.62) each 20 seconds.
Not All Markets Are Shifting
On the Wight Isle, the market has remained unchanged regardless of the major shifting to online gambling. The number of gambling shops on the streets has remained unchanged in the same period despite being under the same FOBTs regulations. Presently, the island has 25 gambling businesses, and according to the ONS, the quantity has remained steady over the last seven years.
As per the Association of British Bookmakers, the lowering of FOBTs limit is expected to cause the closure of 3,000 and 4,000 betting venues across the country by 2020 due to the direct outcome of the restriction.
Fixed odd betting centers have been a greatly contentious matter that the entire of the gambling industry in the UK has had to face. The number of face to face betting venues has gone down by 4% since 2010. Currently, there are 61 places in the UK where there are more betting centers as compared with the past.
Harrow in north-west London is the place which has witnessed an increase in the number of in-person centers on the high street where there are currently 80 shops as compared to 55 shops in the last seven years.
However, Bromsgrove in Worcestershire is the town which has suffered the most closures whereby 10 out of 15 gambling centers have terminated their betting activities since 2017.
It seems like the pattern could be more closely associated with the local economies as compared to broader government policies due to the broad differences between data from various parts across the UK.