Great Britain’s success in the Olympics & Paralympics is a good news story for the gambling industy

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Huge congratulations must go to all the Great British athletes at the Olympics and Paralympics which this past weekend wrapped up in Rio. An unprecedented haul of medals across the board has ended up with Team GB securing second place in the medal table in both events.

What they have collectively achieved by their talent and hard work is truly inspiring. They would be the first to say their thanks for all the support and encouragement they received from their families, the coaches and the backroom staff who help the athletes train and guide them so tirelessly.

But perhaps some of the thanks should also go to the millions of us who buy a lottery ticket or scratch card, which in turn has provided the funding to pay for the infrastructure to help the athletes to follow their dreams. And lest we forget, it is often overlooked that it is the gambling industry which supplies the skills and expertise to deliver the National Lottery and all its products.

Yes, you heard me right - the gambling industry. Regularly vilified by the national press, the industry is, for this reason one of which the UK should also be proud. Moreover, this country leads the world in many areas of the gambling sector, being home to the worlds online sportsbooks and other leading gambling technology businesses.  It is an industry that supplies a world-class service for consumers to have fun and a flutter across a diverse range of products through many developing channels.

The gambling industry has long been a key player in supporting our Olympians’ and Paralympians’ continued success: and continues to do so by delivering new engaging product for the lottery sector as technology and tastes change. Everyone acknowledges that new tech will play an increasingly crucial role in this: we are again seeing this happen with new and exciting technologies like blockchain, a technology which, amongst other benefits, could significantly cut the costs of current operations and increase both profit and pay out to the good causes the industry supports.

If you would like to know more about blockchain and the potential impact on the gambling industry, then please make sure you sign up for our weekly newsletter below. October is blockchain month at GamCrowd where we bring news, features and Q&As with people that are already building the next generation of tech for the industry.

By Chris North, CEO and founder of GamCrowd