The online gambling industry in the UK alone is increasing at a fast past. The industry was said to have increased in value from 8.4 billion pounds in 2011 to 14.4 billion in 2018. Why has this happened and what has pushed this increase? Here are some factors to take into consideration.
The Online Gambling Industry & The Economy
This recent growth in the gambling industry has definitely brought some benefits to the economy. In 2018, it was noted that there were more than 100,000 persons employed in the UK gambling industry. The majority of these persons working in the betting sector, in access to 53,000.
Currently, there are over 8,400 betting premises dotted around Great Britain, with the annual off-course horse betting along generated a massive turnover of 4.32bn. On the other hand, iGaming has grown from strength to strength.
When you take into consideration the boost in jobs and the online gambling sector, it is worth noting that the majority of these gambling businesses are run by less than 10 people. Businesses are effectively small and much easier to handle. They are a great option for the younger generation, particularly when entering the market.
It might perhaps be quite surprising to learn that the biggest majority of gamblers are between the ages of 45 and 64. There still have been cases of gambling becoming increasingly popular amongst the younger generation.
One of the biggest driving forces in the gambling industry is the astounding number of gambling options. Gamblers do have not more possibilities than ever on how they wish to gamble or place bets. While it is still possible to go down to your local bookie, it has become much easier to gamble online.
With many gamblers going down this route to make bets
In 2018 along, there were more than 36.6 million online gambling customer accounts, with most of these facilities licensed and regulated by the UK Gambling Commission. Although one can safely assume that some of these accounts have become inactive, research has clearly demonstrated that 33.6 million have actually been used in the past.
This points out that people are taking advantage of this possibility to use and gamble more often. Of course, there are plenty of online resources, which players can use for their gambling pastimes. These sites, not only provide detailed information about the gambling site, but they also highlight the benefits, promotions, and offers and how to avoid rogue gambling sites.
It is fair to say that many players have lost trust in gambling, especially with many rogue casinos popping up and scamming players.
It is also wise that if you are planning on gambling online, you do proper research and only sign up to online gambling venues that are licensed and regulated by the UK Gambling Commission.
It is quite clear that online gambling is still relatively popular in the UK. The advancements in technology and the myriad of gambling options have made this possible. You can also gamble on the go, straight from your smartphone or tablet.