There’s no doubt that online gambling is a growing industry in the United Kingdom. According to the statistics by the United Kingdom Gambling Commission (UKGC), the total gambling market was worth £14.3 billion in 2019. The statistics show that online gambling accounts for 38.60% of the overall sector, which is the largest share of the market.
Recently, both major political parties in the UK pledged to introduce additional restrictions that will make things slightly more difficult for UK online casino operators.
In this article, we’ll take a look at what the future holds for gambling and casinos in the UK.
The beginning of modern age gambling
The first legalized and regulated private casinos were established in the UK after the introduction of the Betting and Gaming Act in 1960. There were different kinds of casino establishments, with class playing a major role.
While most people were more likely to place an accumulator bet on football at the local betting shop, a player with sufficient bankroll would probably opt for a round of card games at a casino.
With this, betting and casino operators started emerging in the country. And by the end of the 20th century, most gambling venues were owned and operated by large companies that operated on a national level. Gambling became a large industry that generated millions in revenue.
In the late 1990s, the gambling community saw the rise of a new phenomenon: online gambling. The opportunities were massive, and casino operators quickly realized the potential of this new sector.
Gambling went online
Online gambling sites appeared in the 1990s, but they were more of a fringe thing at that time. In less than a decade, online gambling became an established industry. And it wasn’t just small companies that their luck in the UK casino sector, many industry giants decided to expand their operations and offer their services on the online platform.
The industry experienced unprecedented growth over the years, and the gross gambling yield grew from £8.4 billion to £14.4 billion between 2011 and 2018. It’s not just that online betting and casino gaming meant more convenience, but the variety of games offered also changed.
Latest developments and future projections
The UK is one of the countries that have the most liberal legalization regarding gambling. Many forms of gambling are permitted in the UK, and games like Bingo and even horse race betting are considered to be traditional.
Things have started becoming a lot more restrictive, though it doesn’t seem that the industry is on a decline. As such, many people want to know what the future holds for the gambling industry.
Many industry experts believe that the industry will strive away from the most dangerous forms of gambling in the coming years. The latest ban on credit card gambling is another move in that direction.
On the other hand, technology will keep on advancing, enabling game providers to develop new and exciting games that will attract even more people to online casino gaming.