The UK gambling business works under very stringent regulation, and no other country in the world maintains a stronger regulation of the gaming industry than the UK. There is also the threat of Brexit looming large on the gambling in the United Kingdom. There is no doubt that it is going to bring a considerable change to the industry and the British business in general. As every country has its own rules, licenses and regulations on the gambling, the implementation of Brexit is unlikely to have any adverse effects on the UK gambling sector. But, gambling with any of the non-UK website might not be an option for the UK bettors or punters. Among the virtual casinos that are favoured by the UK gamers, you can play Ojo casino advantages to get to try out many of your favourite games for free or even play with real money.
The Present State of the British Gambling Market
There is no doubt that the wagering industry in the UK has seen an upward curve in the past few years. It is now over a £14 billion industry and is having a lot of resources than many of the other gaming industries in the European Union. The betting companies in Britain can easily cope with any shortcomings that they might face when exiting the EU. The largest and the richest gambling business is in the UK, and hence it is unlikely that the EU will turn a blind eye on the UK betting sector.
There is a huge increase in the income from remote betting. It has moved on from over £800 million in 2009 to an astonishing £4 billion in the year 2017. To all appearances, there is a great demand for online betting sites and casinos in the United Kingdom. In fact, one of the industries to offer great support for the British economy is the wagering business.
Reasons for the Fast Growth Shown by UK Gaming Business
There are many experts from the PwC who believe that the UK gaming market would be worth up to £5.5 billion by 2021. It will soon become the largest gaming market in the whole of Europe, and it will see nearly 7% growth increase in a few years’ time.
The main reason for the huge growth is due to the huge revolution that online gaming is making. There has been a 10% revenue gain generated by the internet betting casinos and websites between April 2016 and March 2017 when compared to that of the previous year. About 30% of the total bets placed by the UK bettors are through desktops, laptops or their mobile devices. The main contributors to the rise in the online betting revenue are bingo, casino, arcade, and lotteries. The rise in the internet has resulted in the decrease in the revenue and footfalls in the land-based casinos.
Future Looks Very Bright
The revenue figures that are seen right now make it clear that the UK gaming is growing exponentially. The future also looks very bright as there is a great deal of focus given to the online oriented business. Despite the introduction of the Point of Consumption Tax in 2014, there is no slowing down of the growth of the online betting sites. It is also becoming clearer that the physical markets are looking to merge with the online business. This is what is seen from the results that the UK Gambling Commission has put up. The bookmaking firms have also started to shift their focus on online transactions to make depositing and withdrawing money more convenient for the bettors.
The online gaming and the betting sites are budding with every passing year, and they are also generating a lot of money. It is evident that the future of UK gambling is bright and secure. There is a decent growth seen in the online casino betting, and gamblers these days get to access world-class facilities right in their homes on their mobile apps or casino websites.
The technology is also evolving, and with advancements in technology, the online betting sites can offer quality and top-end gaming experience for their customers. The rise and the speed at which the virtual reality developments are taking place obviously shows that the casino bettors now enjoy a totally new experience. The creative games are enjoyed by the gamers, and they get hooked on to the games for a longer duration than before. The growth and the demand for online gaming sites and casinos among the diehard gamers show that UK gambling has a very bright future.