程阳：互联网博彩如何影响GDP

How Online Gambling affects GDP

Gross Domestic Product, or GDP, refers to the market value of all financial goods and services from a nation in a given year. The internet has undoubtedly had a huge effect on the economy, accounting for an increase in revenue through new web-based businesses, aiding the expansion and potential of existing businesses and creating jobs. The impact that the internet has had on the British economy has certainly been substantial with a reported 8.3% of the UK’s GDP coming from the web.

The potential of the internet for increasing revenue is such that it has given birth to a new breed of .com entrepreneurs.

Online Gambling Revenue

It is not surprising then that the already successful gambling industry turned it’s attention to the internet. The biggest money-making phenomenon is now that of online gaming. This covers lotteries, sports betting and online gaming such as casinos, poker and bingo.

Through licensing and taxing laws in the UK, companies who operate an online business are taxed just as land businesses are and with this fast becoming a billion pound business, the UK’s GDP has resultantly profited from its success.

The global online gambling market was estimated to be a $3.1 billion industry in 2001. As predicted, the market took off in a big way and is now thought to be worth in excess of $24 billion. With 51% of the world’s population taking part in some form of gambling each year, this statistic comes as no shock.

In the UK, the annual revenue generated from online gambling companies will be the equivalent to 1% of the total UK GDP. This may sound like a humble amount but when put into perspective it is actually equal to the total GDP of a small country.

It’s no surprise which games have caused this increasing spend. Roulette, blackjack, slots and poker have been the staple of the casino since the first major casinos opened, and have grown dramatically in popularity due to the ease of access. From the opening of casinos in many cities, to the introduction of the online casino, thousands of people gained instant access to these games

With new technology continuously increasing and improving the online gambling industry, such as software and smartphones, making gambling even more accessible and appealing to a broader market, it is almost a certainty that online gambling will progress and entice even more players and subsequently generate more revenue as the market continues to grow in the future.