The UK’s gambling industry is growing. This is partly due to the increasing number of online casinos that have made gambling more accessible than ever. According to the UK Gambling Commission, a large percentage of the population plays gambling. This could be lottery or sports bets. Horse racing is also included in the statistics.
Here are nine facts and statistics about the UK’s gambling industry.
The UK’s Gambling industry: Statistics and Facts
1. With a revenue of PS14 billion, the gambling industry is the largest in the world.
The gambling industry is worth more than PS14 trillion yearly. That’s PS14.3. The decline in revenue, which was previously PS14.5 billion, is due to online gambling’s rising popularity.
2. An average Brit spends PS2.60 per week on gambling
Bettors are always looking for ways to improve the chances of winning the lottery. An average Brit spends PS2.60 per week gambling. Statistics on gambling show that those with higher incomes gamble PS4.20 per week, while those with lower incomes do not spend as much (only PS1.50 per week).
3. Online casinos are the most lucrative games of chance in the industry
What is the average casino’s annual revenue? Virtual casinos’ total gambling yield was PS3,190 million in 2019, making it the most-played game in the UK. The second place is held by remote betting at PS2,812 million, and the third by non-remote gambling at PS2,121 million.
4. Gambling is exempt from tax in the United Kingdom
Gambling is subject to tax in certain countries but not in the UK. Gamblers may keep all of their winnings regardless of whether they were won online or in brick-and-mortar establishments.
5. bingo generated PS910million in revenue in one year
Bingo was one of the most loved games in British gambling history. However, over the past several decades, the number and popularity of players in bingo have dramatically declined. Still, the increasing number of bingo websites has seen the game make a comeback. According to UK Gambling Statistics, bingo accounts for 2.6% of all gambling in the UK. All bingo games played between April 2019 & March 2020 generated PS910 million combined!
6. Gambling is a very popular activity for people between 35 and 55
Gambling statistics show the 35-55 age range is where the most active gamblers are. However, people between 25 and 34 tend to use online gambling sites more.
7. Men are more likely to gamble than women
51% of men gamble in the UK. For females, only 4 out of 10 UK women gamble, with 20% reporting that they gamble at least once a week.
8. Slots are the most common form of online gambling
Casino games have become very popular due to the recent transition to online gambling. The most popular casino games are slots (69%). Next, there is roulette (14%) and blackjack (6%). These games offer easy access and low deposit requirements. They also offer frequent bonuses.
9. The popularity of traditional slot machines is declining
The UK’s gambling industry used to have a lot of traditional slot machines, but they are gradually disappearing with the advent of online gambling. Only 3.7% of British gamblers play traditional slots. Many punters have switched to online slots, which offer a different experience and more chances of winning.
10. The most popular sport to place bets on in the UK
Statistics from the UK show that football betting is the most common. The people of Great Britain have spent PS786 million on betting on football, accounting for 40% of all sports bets.
11. Horseracing is the second-most-popular sport for betting
Horse racing has become a very popular sport in Great Britain. There are many races that offer horse betting opportunities. 3.8% of UK gamblers place horse race bets. This is usually done with each-way wagers.
13. Online gambling in the UK is legal
Online gambling in the UK is legal. It is regulated by UK Gambling Commission. This commission was established in 2005 under the Gambling Act. Online gambling includes online poker, sports betting, casino games, and bingo.
14. The UK leads online gambling at a global level
Statistics on online gambling show that 54% (and 15%) of all online gambling is done in Europe. There are 33.6 million active accounts in the UK that have been registered on licensed gambling platforms.
15. There are more than 2,600 companies that work in the online gambling sector
More than 2,600 licenses have been issued by the UK Gambling Commission to online gambling businesses. More than 175 online casino sites are currently operating within the UK. This is in addition to all other gambling and sports betting websites