Betting Sponsorships Steer Punters Away From Black Market, UK Betting And Gaming Council Claims
n a submission to the House of Commissions, the Betting, and Gaming Council (BGC) stated sports sponsorships with betting companies keep sports fans away from black markets.
The submission claimed sports such as football, rugby, horse-racing and snooker rely heavily on sponsorship support, media rights, and payments from betting operators.
The BGC said in their statement that horse and greyhound racing, which hold a “symbolic relationship” with betting, dating back decades, “would not exist without the sponsorship, levies, and media rights payments paid by the betting sector, and so too there would be no product to bet on.”
BGC chief executive, Michael Dugher, said: “Some sports are living on a knife-edge because of the ongoing ban on spectators, so the funding provided by our members is even more important than usual.”
Dugher emphasised the importance that the government “gets the balance right“ when conducting an examination of the relationship between sports and betting operators.
He added that punters may otherwise be pushed towards the unregulated black market which has “no interest in supporting sport either at a grassroots or national level”.
The horse racing industry has experienced a 1.4% growth since 2015, in spite of facing challenges such as declining attendance; according to the BGC, horse racing receives $363.8 million annually from betting companies.
Despite appealing primarily to an older age bracket, darts and snooker also receive $18 million annually in sponsorships, while the English Football League (EFL) receives $72.7 million annually.
According to a statement released last month by the EFL, the organisation is prepared to carry on with the discussion with the government regarding betting sponsorship.
The EFL’s goal is to “ensure its partnerships are activated in a responsible fashion.”
British gambling organisation GVC presented the BGC’s “Pitching In” project, as an example of the pursuit of this goal; wherein clubs affected by the COVID-19 pandemic will receive financial support.
No betting or gaming brands by GVC will be promoted at any of the physical grounds of involved leagues.
According to a report by Grand View Research Inc, the global online gambling market is expected to experience growth of up to $173.8 by the year 2027, with a Compound annual growth rate of 11.5%