Due to advancements in technology, an increase in liberal legislation in many countries, and a higher trust rate of online players, the global online gambling industry has been thriving in recent years. And the UK’s market is no exception. Here is a closer look at the numbers.
How much is the UK online gambling industry worth?
From visiting a UK online casino to playing the National Lottery on the web, people are increasingly enjoying betting via internet platforms. Out of the £14.5 billion that was spent on gambling in the UK between October 2017 and September 2018, according to Gambling Commission figures, online gambling accounted for revenue of £5.6 billion. That is approximately 38.8% of the total figure. Online gambling activities include everything from casino betting and bingo apps to sports betting and lottery tickets. Indeed, the UK’s online gambling revenue is one of the highest in the world. Liberal legislation, compared to other countries’ gambling laws, and internet accessibility are thought to be the two primary reasons for the UK’s success, alongside more extensive marketing campaigns by the leading operators.
Breaking Down the Figures
Newer numbers from the UK Gambling Commission show the breakdown of figures for the period of October 2018 to September 2019. The total gross gambling yield for:
- Online casinos was £3.2 billion, a 3.9% increase from April 2018 to March 2019.
- Online betting was £2.1 billion, a 4.3% increase from April 2018 to March 2019.
- Online bingo was £198 million, a 12.5% increase from April 2018 to March 2019.
How much is the global online gambling industry worth?
Let us put the above figures into perspective. According to Statista, the global online gambling market is worth a whopping $66.7 billion, which is around £50 billion. That is a big jump from the previous year’s figure of $58.9 billion. And if the growth continues, as it is almost certain to do, the global online gambling market should be worth more than $9.29 billion by 2023.
The UK’s Share of the Global Online Market
According to a study by Edison Investment Research, Europe dominated the global online gambling market in 2018 with 54% of the share. Asia and the Middle East had the next largest revenue, with a 12% share of the global market. And North America came in third place, with 12% of the market. Given that Europe consists of 54% and the UK’s revenue made up 15% of that total, it is clear to see that the UK’s contribution is substantial.
What types of online gambling activities does the UK enjoy the most?
2019-statistics from Statista show the share of online gambling participants in the UK by type of gambling activity. Sports betting dominated the market, with 81.3%, and casino games were not close behind with 73.6%, while virtual dog or horse races made up 65.1%
A Look at Other Numbers
Further insights into the UK online gambling industry can be gleaned by looking at an article published in the Jerusalem Post in 2019. According to the report, there are 33.6 million active accounts with licensed online gambling platforms in the UK. Furthermore, the UK has the largest number of fully licensed online gambling operators on the planet, with more than 100. The article says the UK was one of the first countries on the earth to see the potential scope and yield that online gambling could bring. And seeing as the UK is a leading player in the online industry, it proves that the strategy paid off.