New research released today shows that the UK is potentially missing out on billions of pounds of investment through its over-regulation of the gambling industry. Strict gambling laws are also leading to pub closures and do nothing to reduce the problem of addiction.
In a study published in its termly journal Economic Affairs , the Institute of Economic Affairs shows how other countries are reaping the reward of liberalising their gambling laws, and how relaxing gambling regulation could be the factor which saves many of Britain’s struggling pubs. The study also contends that gambling is over-regulated in the UK because it is seen as purely harmful – the converse is true.
Missing out on economic growth
- Other countries, such as Australia and Macau, have reaped huge financial rewards through liberalising their gaming laws
Macau started granting licences for destination-resort casinos in 2002
- New licensees have spent an estimated $20bn constructing casinos since then
- In less than five years, Macau became the lar