Suffolk is already a significant beneficiary of UK gambling laws. Being home to one of the biggest players in the UK’s horse racing industry, It is central to one of the key pillars of the gambling industry. Second only to football, horse racing is Britain’s biggest sport by many metrics, including employment and taxation generated, event attendance, and capital investments.
Newmarket Horseracing Industry has local, national, and international standing, and it encompasses racehorse owners, trainers, stable staff, racecourses, and breeders. The industry has a knock-on effect on commercial and domestic property prices and generates non-direct employment in areas like veterinary practices, sports clubs, hotels, restaurants, and bars. Suffolk benefits from UK gambling laws that regulate the industry and ensure a safe and fair playing field for everyone involved.
Horseracing
Horseracing alone generates 8,500 direct and indirect jobs in the region and accounts for £208 million in economic contribution. There are over a thousand registered racehorse owners with horses training in Suffolk, and Racing in Britain is headquartered here. The racecourses attract over 340,00 annual visitors, and there is substantial inward investment from international investors.
Suffolk is the driver of international investment in British Racing, and the prize money at Newmarket’s racecourses is the single largest in Britain. The country is the centre of the British Breeding industry, and the offspring of Newmarket stallions are responsible for more than three-quarters of all prize money won by British-bred horses.
Location
Suffolk is a unique racing centre, and there is no comparable location in the world in terms of history, diversity, scale and concentration of racing interests. Many of the world’s largest global racing investors, like Juddmonte and Darley / Godolphin are headquartered here.
Horse racing is inextricably linked with the gambling industry. While punters can enjoy a race for the sheer exhilaration of watching the hooves eat up the turf, having a wager on your favourite horse is one of the largest attractions of the sport.
According to a study submitted to the UK Government during its Gambling Act review, the racing industry has
“Direct revenues in excess of £1.47 billion and makes a total annual contribution to the UK economy (including induced effects) of £4.1 billion”.
While a report from 2016 commissioned by the Department for Culture, Media and Sport said the industry was worth around £1.1 billion and contributed £3.46 billion a year to the UK economy. However you look at it, horseracing and gambling are substantial net contributors to the UK and Suffolk’s economy and significant drivers of prosperity in the region.
The real problem
A recent report by East Suffolk Council also claimed that there had been ‘no evidence to suggest that any part of East Suffolk district is experiencing problems from gambling activities’. Therefore, the conclusion is that the current gambling framework, with horse racing regulated by the Gambling Commission, is working for the county.
While horseracing is firmly grounded within Suffolk, sports betting and casino gambling are increasingly taking place online. The UK is regarded as a global leader when it comes to the commercial market, which is most beneficial to operators and consumers alike. Recent Gambling Commission statistics reveal that the most popular reasons people give as to why they gamble are for ‘the chance to win big money’ and ‘because it is fun’.
Regulations
Keeping it fun is what good regulation and application of the law ensures. However, people also need to find online sites that suit their style of gambling, whether that is sports betting, casino-style games, lotteries or online slots. An increasing number of review sites allow players to compare what is on offer across the online gambling spectrum. What suits one person might not be what another is looking for.
In the past, a punter might just have wandered down to the Tote trackside and placed a wager or put some coins in the slot machine in the pub or arcade. With smartphones and improved internet access, we now all have access to hundreds of online casinos and betting sites from wherever we are. To find what players are looking for, experts compile lists of thoroughly reviewed casino sites to guide people through what can be a quite complicated online world.
Casino and sports betting sites are judged not just on whether they comply with UK laws but also on how much fun they are to play at and what they offer in addition to a standard bet or game. While an illegal online gambling site will almost certainly be awful, some legal ones can be pretty ropey too. That is why seeking expert advice from an independent review site is a great idea.
Suffolk residents benefit from UK gambling laws that help them avoid harmful sites and make the most of the great sites by following advice from expert reviewers. The advice is always to check that the site has the correct licenses to operate in the UK.
UK Law
Gambling companies work hard to comply with the regulatory framework and proudly display their licenses. Any site that is not upfront about its legality will be one to avoid. UK law is strict about ensuring that licensed sites have all the correct security protocols in place and only accept payment via authorised and recognised processing platforms. Look out for well-known brands and trusted names like PayPal, Visa and, prepaid cards like PaySafe card.
UK gambling laws offer protection to UK residents whether playing online or in person. The same applies to any bonuses and promotions the operators offer. Make sure you read any offer’s terms and conditions and be aware of wagering requirements. While things may be hidden in the small print, all licensed UK operators must play fairly, which means that punters are protected.
UK gambling law benefits Suffolk and the UK in general in so many ways.
