In addition, the report noted the gambling sector provides 61,000 jobs across the country, while contributing indirectly to a further 58,000 jobs. However, its contribution, both in financial and employment terms, is to fall in 2020, as a result of the novel coronavirus (Covid-19) pandemic.
The £7.7bn figure, comprises the contribution the industry adds to Britain’s gross domestic product (GDP) in 2019, known as its gross value added (GVA).
Breaking down this total, £2.6bn came directly from the operations of BGC members. A further £2.9bn was indirect, through demand these members created down the supply chain.
Finally, £2.2bn was defined as induced, meaning it came from spending by those employed by BGC members.