How Much Is The UK Online
Gambling Industry Worth In 2021?
The UK online gambling industry is on a constant expansion, a trend that started more than a decade ago. Since 2005 when the Gambling Act was created to legalize gambling in the UK, the number of casinos, bookmakers and poker rooms increased steadily. The liberal attitude towards gambling was the main catalyst for growth and this is something that applies to the current landscape in the country. The pandemic affected the land-based casino and games industry, but the online environment is thriving.
24 Million People In UK Gamble
The number of gamblers in the United Kingdom is surprisingly high, with 24 million playing at least once a month. Most of them are recreational punters who spend tiny amounts, but they are nonetheless active and enjoy the online games. The numbers are staggering and represent almost 44% of the adult population, so there are plenty of businesses active in this sector. The UK GC has issued thousands of licenses and there are nearly 200 online casinos operating nationwide.
A significant percentage of the market is represented by sports betting casinos and online slots games here, yet lottery is also popular. In terms of sheer numbers, there are more people purchasing lottery tickets, but they generate only a tiny fraction of the money made by the UK online gambling industry. Online casino games amount for £3.2billion in GGY, compared to £2.3 billion for remote sports betting in 2020. An interesting trend refers to online bingo, which is one of the fastest-growing games in the United Kingdom.
The pandemic affected land-based casinos and gaming hubs disproportionately. Sports betting also took a tiny dip, but well below what was expected given the number of tournaments postponed or canceled. On the other hand, a significant percentage of people who would normally gamble in land-based casinos chose the online environment. This led to a spike in the number of online players which more than compensated the losses suffered by the brick-and-mortar establishments.
Legal Gambling Appeals to Casual Punters
Throughout the lockdown, but also in the months following the harsh restrictions, many new players chose to give online gambling a chance. With plenty of time on their hands, they found it worthwhile to try the excitement of casino games and were enticed by bonuses. A strong argument in favor of choosing this type of entertainment is that online gambling is legal in the UK. The Commission only licenses operators that treat players fairly, so punters have sufficient alternatives
The average online player spends around £134 on a yearly basis and the figures have increased in 2020 and 2021. A quick glance at the recent loss and gambling bills suggests that stricter regulation might be just around the corner. Higher taxes and certain betting limitations can hurt the UK online gambling industry in the years to come. Websites that don’t comply with the latest rules are in danger of having their licenses suspended. Even so, UK gamblers will have sufficient options to pursue their hobby legally.