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September 2, 2020, GMT+0000, 17:18 pm

Betting Boosts Sports Economy Claims EGBA 

Leading European gambling operators are adding more than £290 million in value to European sports as well as employing over 30,000 people across the European Union, according to a report by the European Gaming and Betting Association (EGBA).  

The report from the gaming trade association, which is based in Brussels, said that its operator members, which serve over 12 million customers, currently employed 33,000 workers across 14 European Union nations, as well as contributing £290 million to the coffers of sports organisations, teams and competitions, through a combination of advertising, media rights and sponsorship.  

The figures, which relate to 2017, also show that the members of the EGBA generated £15.3 billion in profit during the year, a figure that is predicted to grow to £19.3 billion by the end of the decade.  

Speaking about the report, the secretary general of the EGBA, Maarten Haijer, said that the members of the Association were also improving standards in the industry, and he acknowledged their responsibility towards sports integrity and customer protection: 

Europe’s online gambling sector is a growing and popular form of digital entertainment – but with this growth comes responsibility to ensure that people are kept safe while playing on online gambling websites.” 

Regulatory Compliance 

The EGBA, which includes well known operators such as GVC, Bet365 and Kindred Group, says that its members completed 56 audits during 2017 to ensure that they were operating in compliance with the relevant local laws and regulations, as well as investing £17.2 million in additional checks.  

In total, the report found that EGBA members processed 354 million online payments during 2017 through 31 different forms of payment. The average payout from EGBA companies over the year was 93.06 percent, and the average customer wagered £8.80 per bet.  

Image sourced from Shutterstock.

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