The other side of the medal: are there too many bookmakers?
A modern British bookmaker’s company
According to the Gambling Commission of the United Kingdom, there are 8502 betting points in the territory of the United Kingdom, and the percentage of citizens who took part in gambling last year is 63%. And it’s the government’s fault.
Until 2015 it was possible to turn buildings on the main streets into betting points without a permit. Now the first thing to do is to get consent. However, this step was taken too late, because the impoverished main streets are already dominated by betting offices.
“In Bradford one third of the population aged 16 to 64 are unemployed and those who have a job receive on average £476 per week. There are 62 betting shops within the city, making Bradford the sixth most profitable local area for the betting industry outside London,” Nell Lewis, Guardian, 2017.
Where is their place on the dying high streets?
Small business owners need a quick and decisive transition to using their services. If they don’t, they’re in danger of disappearing.
According to available data, the main streets are now dotted with charity shops and bookmaker’s offices.
Bookmakers have displaced a large number of independent retailers, for whom the commercial tax has been too high.
However, after Philip Hammond’s budget announcement, the tax rate will be tripled by at least two years.
According to Michelle Owens, director of Small Business Saturday, the information about the marginal tax rate was welcomed by small business owners with whom she spoke as part of her election campaign.
The influence of bookmakers on the welfare of central streets
Back in 2016, British politicians began to focus on the prevalence of betting offices on the main streets of Britain. But there was a reason for that. The basis for the location of betting offices on the main streets of Britain laid the Prime Minister Harold McMillan back in 1960.
The Gambling and Betting Act 1960 was aimed at regulating and legalizing the gaming industry by moving them from underground to central streets.
It was more of a “lesser of two evils” psychology. Before that, gaming was illegal except at hippodromes, where bets had to be placed on locations. Eight years after the law was passed, there were already 15,000 betting points in the UK.
Unhappy main streets = betting offices
The “Richter Scale of Welfare” report by the Royal Society for Public Health was used to determine the level of welfare of shops and companies.
The list of criteria for determining the level of disadvantage included the availability of pre-wage credit facilities, bookmakers’ offices, solariums and fast food restaurants. Welfare indicators – availability of pubs and bars, libraries and museums, pharmacies and leisure centres.
Grimsby has been named Britain’s most troubled central street. Shops are often closed, fast food outlets, charity shops and, as you might think, betting shops prevail.
Customer base expansion
PwC’s A2017 report showed that the average UK online gambling client belongs to a different generation than bookmaker clients: younger and more educated.
It is clear from the report that the online gambling industry continues to expand and attract a much wider audience. Some argue that this makes it worth investing in the online gambling industry.
What small and medium businesses should learn from online gambling?
- Availability: Online gaming brands have worked hard to make their technology product available through mobile devices.
Whichever product or service the company sells, your customers are far more likely to stay on your site if it is downloaded instantly, and if your services are easily accessible online.
- Customer incentive mechanisms: Many online gambling brands do not charge new users. Moreover, they stimulate players with various rewards, such as an increasing number of free games.
The same applies to your business. This includes free subscriptions to newsletters that contain important information about your sector, etc.
It is incredibly important for physical retailers to connect your online website to the physical store. You can do this with pop-ups and more.
- Free Access: Especially if you work in the gaming industry, refusing the initial subscription fee can increase user traffic and interaction on your site. This approach can be applied even if you are working in a different industry.
Whether it’s a purchase gift (if you’re an independent retailer) or a similar action in an online format, you’re sure to get even more customers who will leave more money in your store.
British online casino operators have softened the terms of receiving winnings
Two virtual gambling house operators and a developer of their own platforms for gambling websites in the UK went to soften the rules for withdrawing winnings from online casinos. Jumpman Gaming and Progress Play have removed restrictions on withdrawals from customer gaming accounts and removed the practice of blocking accounts in the event of expiration of the time limits set for verification of user profiles.
Jumpman Gaming and Progress Play amended the rules after consultation with the Competition and Markets Authority (CMA). Previously, the CMA announced that it had launched audits of online casino sites to identify virtual institutions whose administration prevents the free withdrawal of customer-owned funds. In March 2018, written notifications were sent to all licensed online casinos in the UK on the need to remove obstacles to withdrawals by players.
These include wins and winnings under the casino’s vagina conditions of bonus funds, which are subject to maximum withdrawal limits on bank cards and players’ electronic wallets. Online casinos restrict cash withdrawals from user accounts to certain periods (limits on withdrawals per day, week, month, etc.) in order for players to return to sites with gambling entertainment and make new bets on slot machines, board and card games.