The UK, Wales included, continues to benefit from the economic boost it has enjoyed as a result of the healthy turnover from gambling and casinos. Many people frown upon gambling because of its reputation, without realising the positive effects it has on the economy. Yet when it’s generating £2.3 billion for the UK GDP while supporting around 40,000 jobs, the benefits of gambling and casinos are difficult to ignore.
How gambling affects the Welsh economy
It is surprising how online and offline casinos, whether directly or indirectly, affect the Welsh economy. When people travel to a casino, they are more inclined to spend money on public transport such as taxis, trains or buses. Casinos attract more visitors to an area, who may also then need accommodation, food and drink. This means more money is paid back into the system, which then contributes to the economy.
Cardiff is known for its exciting poker scene, and boasts various casinos such as a Les Croupiers, a Rainbow casino operation and a Grosvenor. Other Welsh cities, such as Swansea, only have one casino, so Welsh locals who enjoy gambling but don’t have nearby access to casinos will be tempted to travel to Cardiff and maybe even stay there, spending their money on travel, accommodation and more when they do.
Gambling and taxes
The British gambling industry pays more in tax than the amount of profit it generates, and is the only industry in Britain to do so. Even though casino owners may be rather sour about this, it helps enormous amounts of local and national tax to be paid, with more than £2 billion in taxes generated each year.
Furthermore, although people who stay at home to gamble don’t need to spend extra money on travel and accommodation, online casinos are still heavily taxed, meaning they also contribute to the economy. The ease of access to online casinos, especially for those who live far away from physical casinos, ensures that the economy still benefits even if people choose to remain in the house. If you enjoy gambling online and want to find out which casinos are the best, take a look at BestDealCasinos.com’s review of the top luxury casinos to find out everything you need to know.
A further boost to the Welsh economy.
Last year, Aspers were looking to reopen their Swansea casino branch, after it had closed in 2012 when an economic downturn meant disappointing trading figures. However, the company kept their operating licences so they could take advantage of any future opportunities that may arise, and they believed the Welsh economy was experiencing a boost that they could benefit from. Although it doesn’t appear Aspers’ plans have gone ahead at the present time, casino companies scouting opportunities signals an improving Welsh economy, which has benefited from gambling, and adding more casinos could help it to grow further.