While there was concern over betting shops in the territory, the number of gambling businesses remains steady.
According to the register of businesses held by the ONS, Isle of Wight has 25 gambling businesses, which is the same number it featured seven years ago. There was cancer about betting shops taking over high streets.
As On The Wight reported, UK’s high streets had 11,370 gambling businesses in 2017, which amounts 4% less than seven years ago. While the whole gambling sector includes casinos and arcades, the UK Gambling Commission (UKGC) estimates that three quarters os businesses are betting shops.
However, as the government is trying to reduce the maximum bet from fixed odds betting machines from £100 to £2, it is estimated that some of those businesses will be forced to shut down for good, as they won’t be as profitable.
“We anticipate that between 3,000 and 4,000 betting shops will close on high streets and in town centers across the country by 2020. As a result 15,000 to 20,000 high street jobs could be lost. High street betting shops also face similar issues to other retailers, like competition from other forms of gambling, and the increasing costs of rent and business rates.,” said a spokesperson for the Association of British Bookmakers.
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Source – Igaming world