But BGC Chief Executive Michael Dugher has called on the government not to put this at risk in the Gambling Review with changes that could lead to a smaller regulated industry in the UK.

The regulated betting and gaming industry is prepared to help Chancellor Rishi Sunak recover public finances amid the pandemic, in order to allow the Treasury to alleviate pressures on the cost of living.

BGC members have also pledged to create 5,000 apprenticeships through the government’s Plan For Jobs, with operators signing up to the Kick Start scheme, as well as offering graduate recruitment schemes.

Amid the ongoing threat of black market gambling risks, the BGC has warned that new regulations must be evidence-led and not risk the economic contributions that BGC members make.

“Our members are ready, willing and able to assist in the Chancellor’s post-covid economic recovery plan,” said Dugher.

“They already support thousands of world-leading tech jobs across the UK, helping to generate billions of pounds in revenue for the Treasury. And with ambitious plans for further investment in the years to come to generate more quality and high skilled jobs in regions outside London, we are contributing to the levelling up agenda.

“But it is vital the industry’s contribution to sports, local communities, jobs and tax revenues, is not put at risk in the Gambling White paper and with well-meaning but naive changes to regulation.”