A new survey carried out by the UK’s Department of Culture, Media and Sport has exposed variations in the way UK betting firms replied to new limitations on coronavirus. Notably, over with two-thirds of respondents failed to receive the support of the government, as per the survey.
The survey dubbed “The Coronavirus Impact Business Survey” presented that nineteen bookmaking establishments had received government financial support while thirty-nine had not received it. The precise particulars of those surveyed were not divulged. However, it is probable that a noteworthy majority of partakers are land-based betting firms instead of online bookmakers.
As per the survey, twenty operators had not signed into the government’s furlough scheme. 3 gaming firms had furloughed between fifty percent and seventy four percent of the employees. Moreover, thirty-two had even furloughed between seventy-five percent and hundred percent employees.
Around 30 gambling companies have declared that because of the lockdown, they have taken a hundred percent hit in the revenue. This is in direct contrast to only 2 that have seen sales increase. Out of the total surveyed companies, 14 of the betting companies witnessed revenue drop between fifty percent and ninety nine percent. On the other hand, 8 companies recorded revenue drops between one percent and forty-nine percent.
The Future is Now Media Group have launched a YouTube show called The Future is Now Digest, hosted by Miguel Francis-Santiago. Together […]
April 30, 2020
PRESS RELEASE — 10,000 participants are expected to join CHAIN2020 in Hong Kong on January 15, which aims to become one of […]
December 27, 2019
The founder and CEO of the multinational hedge fund Citadel LLC, Ken Griffin remains unconvinced of BTC and its use cases. He […]
November 17, 2021
JD.com, one of the biggest Chinese e-commerce platforms, has purportedly enabled its customers to use the digital yuan for payments during the […]
November 17, 2021