According to the Betting Research Unit of the Nottingham Trent University, the UK economy has much to gain if government relaxed its laws regarding betting and gaming. In particular, it was suggested that the taxes on betting and gaming were to be abolished.
The research indicated that the recently implemented policies to deregulate the gambling industry are likely to result in significant gains to the economy. With a spate of companies with casino development projects in the pipeline, we we are likely to see some improvements contributed to the country’s economy. However, morality advocates are expressing concern on the possible social costs of such an increase in gambling activities, which may become huge. Rising incidences of “problem gambling” might actually offset the productivity gains by companies and local governments.
At this point, 27 localities have submitted bids to set up the country’s premier gambling spot, with 41 others competing for licenses for smaller casinos (which will be given to 16 winning bidders).