Why Britain Holds the Key to Online Gambling Growth
Posted by Harry Kane on Saturday, July 15, 2017
Last year was a seminal one for online gambling in the UK, and indeed the market as a whole.
After all, virtual gambling became the largest sector within the industry for the first time in 2016, as it claimed an impressive market share of 33%. This translated into a gross yield of £4.5 billion, more than half of which came from online casino platforms.
This underlines the key role that the UK plays in driving global, online gaming growth, while it also reinforces how important virtual gambling is to the industry as a whole. So while there may be concerns that the UK will no longer be an influential global force post-Brexit, this charge does not apply in the gambling market.
How Does the UK’s Online Market Share Compare With Others?
There are several standouts from the performance of the online gambling market last year, with its overall share the single most obvious. This is particularly impressive when you compare it with the European market, and while virtual gambling accounts for 33% of the industry in the UK it contributes just 17% to the continental equivalent. The comparison with the U.S. market is even more stark, although this has much to do with the oppressive legislation that currently exists in 47 of the 50 U.S. states.
It is also interesting to note that this pronounced growth is not coming at the expense of other sectors in the industry. In fact, it simply means that online gambling is growing at a far faster rate than more traditional sectors, while the adaptation of advanced technology in bricks-and-mortar casinos is also enhancing the experience of offer. So while the UK continues to thrive and drive in the global online gambling market, it is also helping other sectors to evolve and achieve sustained growth.
How the UK Has Become a Prominent Hub for International Casino Brands
This sustained and disproportionate growth has popularised the British casino market among international brands, while providing a platform through which operators and suppliers can significantly boost their revenues. This means that while the online gambling sector in Europe may be growing at nearly half the rate of its British equivalent, its firms are able to seek out independent opportunities to expand in the UK.
This applies to operators in central Europe and Scandinavia, while even brands in America and further afield have been compelled to establish a viable presence in the UK.
This is why the UK holds the key to online gaming growth in Europe and the wider world, as it is home to single most progressive and prosperous marketplace. This is thanks to a combination of innovation and stringent regulations, which have empowered operators while safeguarding the interests of players. So not only is Britain leading the way in terms the technological trends that shape the current gambling industry, it is also creating an international marketplace in which global brands can prosper.
The Bottom Line
In some cases, we should not be surprised that the UK holds the key to the growth of online gambling in the global market, as it has led the way in terms of technology and regulatory measures for an entire generation. The way in which the online gambling sector has grown alongside and even empowered traditional markets has emerged as something as a surprise, however, and this has established a template that other entities can follow across the globe.