A series of gambling regulatory reforms put forward by a House of Lords group could reduce industry profits by as much as £974m – but lead to a significant uptick in tax revenue and funding for research, education and treatment.
The costings were set out in a report compiled for Peers for Gambling Reform, carried out by Nera Economic Consulting. It estimated that the fiscal impact of the reforms set out in the group’s July 2020 report, Gambling Harm – Time for Action, would impact industry profits by between £696m and £974m annually.
The report notes that post-tax profits for the largest operators – Entain, Flutter, Bet365, William Hill and National Lottery operator Camelot alone total £697m, at the bottom end of the estimated impact.
The 2020 report urged a root-and-branch overhaul of British gambling regulation, centring around five core goals.
It called for stake limits for igaming products and a standardisation of play speed across physical and digital products, as well as th..