The Online Gaming Market in Britain and Europe

Posted by Harry Kane on Wednesday, February 1, 2017

For those who are unfamiliar with the online gaming market as a global entity, there is a tendency for European and British operators to take their lead from the developments in the American sector. This is simply a force of habit, as the U.S. remains the dominant player in the online market as a whole with some of the globe’s largest and most innovative technology organisations based within its shores.

This actually gives a false impression of the industry as a whole, however, as while North America offers what is potentially the largest market of all it also has a largely prohibitive approach to online gaming legislation. The practice and the typical online casino platform is banned in 47 of the 50 U.S states, for example, accessible only in Nevada, New Jersey and most recently Delaware.

So while the theoretical opportunity exists in the U.S and the resources are there to make online gaming a mainstream reality, the social and political impact is preventing this.

How Is the Market Faring in the UK and Europe?

This contrasts wildly with outlook in the UK and Europe, where the powers-that-be have a created a well-regulated online gaming market that generates huge taxation revenues for individual nations. Numerous countries in Europe have felt the benefit of this in recent years, with the UK leading the way as a popular virtual gaming hotspot.

There are an estimated three million online bingo players alone in Britain, for example, and this number is likely to increase alongside the demographic of virtual casino visitors nationwide.

Italy is one of several European nations that has also witnessed huge proliferation in its own online gaming market during 2015, with the virtual sports betting sector reporting double-digit growth in this time. According to figures from the AAMS regulator, the nation’s online casino segment’s profits grew by 31.2% year-on-year to 327. million Euros in 2015, while the cumulative revenue generated peaked at 9.4 billion Euros. Sports betting experienced a 19% rise to 254 million Euros, and these statistics more than compensated for a slight decline in the online poker segment.

The Last Word: Why the U.S. Should Follow Suit

These figures not only highlight the robust growth that has defined the European, online gaming market in recent times, but they also showcase exactly how diversification as created new and exciting options for international players. With these trends set to continue in the UK and the continent in the near-term future at least, there are clear case studies for the U.S and similar markets to learn from.

The success story of Delaware should also serve as inspiration to law-makers in America, as the legalisation, regulation and taxation of online gaming has delivered huge returns to the local state authority. The question that similar states and America has to ask is whether or not the perceived affront to social values is worth the pay-off, although given the good that this money could do in local communities the answer seems obvious.

California will be key to the attitude of the U.S market, and if online gaming is legalised there it may trigger a chain of events that sees North America finally rival Europe and the UK in the virtual casino stakes. With New York and Pennsylvania also expected to successfully pass online gaming legislation in 2017, this could finally be the year in which the market achieves its full potential in North America.