Over 40 MPs from across the political spectrum have joined forces to support various charities through the Betting and Gaming Council’s (BGC) annual ‘Grand National Charity Bet’ campaign.
Each MP will have a £50 stake to bet on a horse in the renowned Grand National, with all winnings will be donated to a charity of their choice, ensuring a positive impact on numerous causes.
Regardless of the race’s outcome, BGC members have pledged to donate £250 to each MP’s nominated charity, ensuring that each organisation benefits from the initiative. In the previous year, the charity bet drive succeeded in raising nearly £11,000 for an array of charities, demonstrating the potential of this unique collaboration.
To place their bets, MPs were invited to visit one of several betting shops in their constituency, including Paddy Power, William Hill, Ladbrokes, Coral, Betfred, or local independent shops.
Trade body CEO Michael Dugher said: “Millions of people, from all different backgrounds, will be coming together to watch the Grand National and place a bet on the world’s most famous horse race.
“Betting shops support tens of thousands of jobs, bring vital revenue to the UK’s hard-pressed high streets and support the national and local economies through tax and business rates. They also provide a community to millions of betting and gaming fans.
Held in Aintree, Liverpool, the Grand National is the world’s most famous horse race, attracting millions of viewers from around the globe. With approximately 13 million UK adults expected to place bets on the event, the race is anticipated to generate £3m in tax revenues for the Treasury and £2m in horse racing levies to support the sport.
Betting shops in the UK play a significant role in supporting the economy, providing 42,000 jobs, contributing £800m annually in taxes, and offering £60m in business rates to local councils.
The regulated betting and gaming industry as a whole supports 110,000 jobs, generates £4.2bn in tax revenues and contributes £7.1bn to the economy in terms of gross value added.
This unique partnership between MPs and the BGC not only showcases the positive impact of the betting and gaming industry but also highlights the potential for cross-party collaboration in support of various charitable causes.
As the Grand National continues to unite millions of viewers worldwide, the BGC Charity Bet initiative ensures that the excitement of the race extends to communities and organisations in need.
Dugher concluded: “I want to say a huge thanks to the MPs who have made the time and effort to meet with their local constituents working in high street shops, for backing so many good causes and local charities, and for promoting the Grand National which remains one of Britain’s biggest and best cultural and sporting events seen around the world.”