Home Insights & Advice The growth of the iGaming industry in the UK

The growth of the iGaming industry in the UK

by John Saunders
13th May 22 4:12 pm

This hobby dates back hundreds of years and is still a popular one in the United Kingdom today. There is no doubt that the gaming business today is much different from the one you remember from your childhood.

Instead, during the past decade, the gambling business in the United Kingdom has grown very inventive, competitive, and fragmented. If you’d like to discover more about the UK gaming sector and where it’s heading, please continue reading this article.

The ever growing market

Profits in the iGaming industry have increased steadily over the last several years. Despite the fact that online gambling is one of the fastest-growing sectors in the world, the number of UK sports and casino gamblers continues to climb each year. Aside from casino gambling and bingo, sports betting is among the most popular UK pleasures.

In 2018/19, the UK iGaming sector was put under regulatory scrutiny. Gambling commission numbers show a decrease in profits of 5.6% to £5.3 billion. In contrast, the overall gross gaming yield – the amount operators keep after winners are paid – increased from £8.4bn to £14.3bn in the decade up to March 2019.

The mobile effect

With the market growing uncontrollably like never before, it would be suitable to look back at where or what was one of the most important factors in this success.

With the introduction to mobile devices, the world changed, some might say “for the better” whilst others will claim otherwise. One thing for sure is that the iGaming industry will surely state the latter. Thanks to mobile devices, gamblers are now able to participate without having the need to attend a brick and mortar casino.

Mobile devices are growing each year with better technologies,and so are casinos, and with casinos using mobile devices in order to enhance gambler’s experiences and allowing them to access online casinos with the likes of 32 Red mobile casino that operate on handheld devices, the gaming industry boomed drastically.

According to the results of the poll, younger people prefer mobile gambling above other types. Those between the ages of 18 and 24 and those between the ages of 25 and 34 were the most likely to use their mobile devices to gamble, while those between the ages of 65 and 74 were the least likely to do so.

Crypto and iGaming alliance

A number of iGaming businesses are adopting cryptocurrencies in order to enable customers to bet and play games like slots or table games utilising cryptocurrency. To put it another way, it’s a safe bet that many iGaming firms will follow suit if cryptocurrency success continues.

One of the hottest subjects in investing right now is cryptocurrency. It’s possible that, even if they’re volatile, they might reaffirm a few of the factors why you would want to invest in the iGaming industry. With cryptocurrency being titled as the safest currencies at the moment, it is undeniably that this crossover had to happen sooner rather than later.

iGaming is not reliant on bitcoin, so even if it fails or loses appeal, the business is likely to continue to thrive. Nevertheless, this crossover is one of the most favoured amongst those crypto traders and gamblers who’d still like to experiment.

Leading sector in the UK

When looking at the United Kingdoms, one of the fastest-growing segments of the internet gambling industry is undeniably sports betting, which has been steadily increasing in popularity year after year.

Football-related sports betting accounts for over half of total sports betting market share. 28 percent of all sports bets in the United Kingdom are put on horse racing and steeplechasing. Animal welfare and cruelty issues raised by events involving horses and dogs in the UK have caused many individuals to reevaluate their support for sports that exploit and harm animals for their own gain. If this might bother you, there would still be a huge amount of ‘human’ sports to lay a wager on.

 

Please play responsibly. For more information and advice visit www.begambleaware.org

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