UK Betting Industry’s Heavy Reliance on Online Casinos
United Kingdom’s betting market employs more than 107,000 people and is worth more than £6 billion per annum. The figure sums up to a whopping US$9.8 million, and has been so recorded by the United Kingdom’s Gambling Commission. One of the reasons for this huge spurt in business and the billions of dollars earnings is due to the immense growth in the gambling sector in the UK, given the success of online betting. These online betting games are organized and hosted by some of the most popular online casino portals in the United Kingdom.
The biggest online gambling market in Europe
UK also happens to the biggest market of online gambling in the entire continent of Europe. The betting industry in Europe is said to be valued at USD 14.7 billion currently. That rounds up to a share of 66.67 per cent of the betting market to the UK. Unlike the US, United Kingdom has been considered the world leader when it comes to online gaming. The change took place when the country passed some favourable laws in the year 2007.
Industry research reports on UK’s betting market
UK houses 8 per cent of the European online casinos (as of 2012), as per a study conducted by Deloitte. Post 2012, the growth in the number of online casinos has occurred at a rate of more than 1 per cent per annum. Betting on the internet on sports alone is worth £650 million per annum. As per a report published by the Guardian, online gaming is as favoured in the UK as any other kind of gambling. This is specifically true when one factors in frequency of gambling. Currently online gaming and betting at horse races are the two most popular forms of gambling in this country. The online gambling population of 2.1 million UK customers make all this possible.