With the UK online casinos on the rise for over a decade now, it remains the only one which not only stayed largely unaffected by Brexit, but actually continued to grow in revenues.
Indeed, what paved the way for the rise of gambling in the UK was the Gambling Act of 2005 – which came into applied force in 2007 – that enabled TV advertising of gambling sites and provided betting operators with the chance to attract players on a mass scale.
Shortly after this period, UK gambling revenues were on the rise, with taxes the industry pays to the Treasury Soaring as well. For less than a year after the Act came to be, the gambling industry hit £8.36 billion; continuing its upward trend, the industry reached a record £13.8 billion in revenues by September 2016. But this wasn’t the end of the story, as while the overall growth of the UK gambling industry has become fascinating to many who analyze it, what most people find compelling is the outstanding growth in online betting.
Though it’s been something of a controversial issue in the United States, online gambling has been legal in the UK since the 2005 Gambling Act came to realization over a decade ago, attracting enthusiasts ever since some online gambling restrictions were loosened. Consequently, the number of online gambling players rose from 9.7-percent in 2008 to over 17-percent in 2018; of course, the way analysts see it, with more people gambling online the more remote gambling revenues increase in response.
Remote gambling in the UK totaled £817 million in 2019, but rose to £4.5 billion between April 2016 and March 2017. Furthermore, according to a report by the UK Gambling Commission (UKGC), this constituted a 10.1-percent rise in online gross gaming yield (GGY) over less than 10 years. Today, remote gambling holds 34-percent of the entire UK gambling market and accounts for the largest increase in gambling revenues, to boot, with land-based casino products such as poker accounting for 56-percent of the total GGY (exchange betting constitutes 2.8-percent of total GGY, whereas pool betting holds just 0.7-percent).
Indeed, in modern times, the online gambling industry is more industrious than ever, with numerous other businesses taking advantage of its growth. In the UK, marketing entities, iGaming software development organizations, casino news websites like CasinoGuardian.co.uk and even chat hosts make money from the remote gambling industry.
