In the past few years, the United Kingdom has become a leading market for online gaming. Otherwise called iGaming or eGaming, the industry has gone through significant growth in a relatively short period of time.
In September 2007, the formation of the UK Gambling Commission (UKGC) took place. In no time, the gaming board turned into the dominant figure among regulatory bodies.
To date, it is the most renowned supervisory organ for iGaming companies. The license issued by the UKGC is hard to obtain and even harder to keep. Therefore, online gambling operators have to comply with strict rules, should they want to retain their reputable operating permit.
It is clear as day that the future of online gaming looks beyond bright. But, what does that mean for brick-and-mortar gambling venues?
The shiny new toy
Historically, the United Kingdom has had one of the richest land-based casino scenes in the world. London’s most famous casinos are scattered here and there all around town. Many Londoners love frequenting these gambling destinations for leisure.
However, innovators introduced a more hassle-free form of entertainment. Younger audiences were particularly interested in this new virtual form of gambling.
Gambling started to rapidly transfer from land-based objects to the virtual world around a decade ago. That was about the same time when the game’s behemoths such as Isle of Man-based Microgaming and Playtech first appeared. Although they both had been around since 1994 and 1999, respectively, they started to attract attention a tad later.
With their forward-thinking attitude and the already-developed HMTL5 cross-platform, the firms launched their stunning slot machines onto the Net.
The previous several years marked the highest ever revenue growth coming exactly from the iGaming industry. As a result, more and more similar companies started to compete with the veterans. In 2019, there are over a hundred casino software developers, all fighting for their place in the sun.
Not necessarily mutually excluding
On the flip side, have brick-and-mortar premises suffered from ebb in interest? Studies have shown that they, perforce, have not.
The same year when the UK online casino scene flourished with the establishment of the UKGC, an MP maintained a different stance. Jake Berry, the Northern Powerhouse minister, called for an opening of 16 super casinos in the country.
The project plans were mooted in 2007 but were soon defeated in the House of Lords. Namely, members of opposition feared that the online gambling scene had become too strong. According to certain opposition leaders, the super casino idea would be a shot in the dark. They went so far as to say that these plans “had no legs.”
Nevertheless, the scheme was reinvigorated earlier this year. Berry looks to follow his initial designs. In the light of current events, the Liverpool-born and raised solicitor believes it is a prize worth reaching for.
In October 2015, a Las Vegas-style casino was opened in Birmingham. It is but one it the row of the 16 planned casinos to be opened before long.
And contrary to the viewpoint of the opposition, the public has spoken. Locals have supported the opening of the new licensed and regulated casino, as long as it provided “regeneration, jobs and community benefits.”
No words have been said comparing it to any online-based venue. That goes to show that every kind of commodity has its customer. The rise of virtual gambling does not damage the development of in-person gambling.
The fact of the matter is that the UK is at the forefront of online gambling. However, that does not elicit the annihilation of its terrestrial counterpart. The two could, as they do, exist concurrently, without ever disturbing the success of the other.