United Kingdom has one of the most advanced gambling regulations, internationally the UK is recognized for having a stable and growing gambling industry and for having betting activities as part of the entertainment culture. Through this article we’ll review the development of the gambling industry making special emphasis to the expansion of the online casino market.
The regulation of this industry has been one of the keys of its success, as it not only provides security for users but stimulates the market to a healthier and stable growth. The Gambling Commission also protects the 106,678 jobs in the gambling industry and publishes market information that tracks the market performance giving companies a great picture of what is going on in the industry and how to keep a good competitive advantage.
A notable example of the benefits of such a regulated market is the protection customers get avoiding frauds and even misunderstandings, the commission is also very serious with the control of the industry advertisement, they recently fined BGO Entertainment for £300,000 for misleading advertisement, proving again that keeping a fair and open gambling market is the commission goal.
According to the statistics of the Gambling Commission from April 2015 to March 2016 the gross gambling yield in the UK was of 13,44 billion British pounds, this isn’t just a great number for a market value, it also represents a year on year growth of 18,9% pointing out the impressive growth this industry has been taking.
The uptake of the gambling industry is driven by the online gambling evolution, the category of remote betting is the biggest category with 32% of the markets gross gambling yield. Within the online casinos business there are categories that are more important and popular than others; according to the Gambling Commission the casino games is the most important category, slot games generate a gross gambling yield of 1,6 billion British pounds being by far the most important game in this market. Contrarily; bingo games show a decline in their gross gambling yield.
Sport betting is also an important category for the British online gambling sector, the most common sports among British users for betting are football and horse racing. Pool betting has become quite popular among users, it is estimated that this betting modality has a year on year growth of 16%, another sport betting modality that has marked a big growth in the industry is the in-play betting; according to Populus the 26% of online gamblers bet in this gambling modality.
According to CalvinAyre the online gambling market keeps expanding and captivating new users, having a total of 28,4 million of new online casino accounts registered last year, it’s important to mention that the average number of casino accounts per online gambler is 3, this is mainly due to a specialization trend, online casinos are now focusing in fulfilling the expectations of different user niches and users can now profit from different promotions, game modalities, betting insights and more from diverse providers at the same time, creating a new opportunity to the industry professionals that now can focus on attract more users even when they are already loyal customers to other brands in different gambling modalities.
To understand how important is this industry in the British market we only have to analyze the statistics of the gambling behavior study conducted by Populus. According to this study 48% of the +16 population have placed a bet in the last four weeks, from which 17% gambled on online platforms. Another relevant driver of online casinos growth is the raising interest from users for mobile gambling with 43% of online gamblers opting to do their gambling activities through a mobile device.
It’s clear that the industry of online casinos in the United Kingdom presents a solid environment for continuing profiting of growth and stability. It also presents a great acceptance from users to innovations and new trends like live betting options, it will be interesting to monitor development of other innovative trends like virtual reality casinos, eSport betting and Bitcoin casinos in this receptive market to see their impact in the industry growth.