UK iGaming Industry Steadily Growing

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Thursday, August 17th, 2017 | Written by Lucy Brown

While some games like online poker are struggling to rake in profits, the iGaming industry is growing as a whole. In the United Kingdom, online gambling now accounts for one-third of all gambling in the country, according to a report issued by the Online Gambling Commission of Great Britain.

UK iGambling Revenue in 2016

Between Oct 2015 and Sep 2016, the UK gambling market generated £13.8 billion in gross gambling yield (GGY), with its remote gambling sector now representing the largest segment with a 32% slice of the pie worth around £4.5 billion GGY. From that tally, online casinos accounted for £2.4 billion in GGY, with slots contributing £1.6 billion of that amount, while, remote betting, including betting exchanges, generated £1.9 billion.

Interestingly, laptops still remain the most popular device as far as online gamblers are concerned, although wagering via tablets and mobile phones is rising, and is now used by 43% of all online gamblers. Furthermore, men prefer to gamble via their mobile phones, whilst women enjoy gambling using a tablet. Naturally, strong procedures have been put in place in order to limit the possibility and impact of problem gambling, with the current situation laid out recently in finsmes.com, which states:

“According to surveys by the Commission, overall 0.7% of respondents were identified as problem gamblers, with men more likely than women to be categorized as such (1.2% compared to 0.1%). 16-24 year olds are most likely to be categorized as problem gamblers (1.4%), followed by 35-44 year olds (1.1%) and 25-34 year olds (0.8%).”

iGaming Market Booming in UK

There are a number of reasons why online gambling is growing in popularity in the United Kingdom. These include:

– Players enjoy having the ability to play virtually any type of game right in the comfort of their own home

-Players being able to find online casino games that pit their skills against others, and add a social aspect to play and games that are completely solitary.

– Players are instilled with confidence in the security of sites as operators must clearly display their licenses issued by the UK Gambling Commission. Moreover, the UK Gambling Commission routinely inspects sites to ensure that games are fair and winnable, further boosting player confidence and trust in operators.

Here are a number of other reasons that are helping the UK’s online gambling industry to reach new heights.

Access to Technology

The rise of online gambling also comes at a time when access to technology has reached an all-time high in the United Kingdom. With the wide availability of Wi-Fi, most people can now gamble online not just at home, but also from tablets and smartphones when they’re on the go. In addition, sites have enhanced the visual appeal and functionality of their interfaces to make the games more appealing to recreational players. Touch-screen functionality even makes online slots and table games feel like games played in brick-and-mortar casinos.

Pop Culture

Another vehicle driving the success of the online gambling market is the strong connection developing between pop culture and the industry. Players can now find casino games that are tied to interests beyond the virtual casinos, with one example including the Lord of the Rings online slots game which rewards players with the advancement of a story centered on Frodo Baggins as they continue to spin the virtual dials. There are also online casino games devoted to Star Trek and Star Wars, while fans of music can even play online slots while jamming to the tunes of the King of Pop on a Michael Jackson-themed casino game.

Advertising

In the United Kingdom, online gambling operators that have received official licenses from the UK Gambling Commission through the proper channels are permitted to advertise their sites. Online and offline ads help players discover games that appeal to their interests and tastes and help to keep the industry profitable.

Industry as a Whole Healthy

The United Kingdom is not the only place where the future of online gambling seems bright, with Forbes Magazine predicting that the industry will continue to grow by leaps and bounds across the world during the next decade. While internet access is still limited to roughly 40 percent of the world, steps are currently being taken to broaden its reach, and as more and more people become connected, the demand for online gambling will continue to spread to other countries. Markets outside Europe will therefore open up to established international operators and provide new opportunities for growth. In the United States, for instance, several states are already considering legislation to regulate internet gambling, and therefore provide access to more people.