The UK’s gambling industry is one of the most valuable in the world, worth approximately £7 billion. The well-regulated industry is overseen by the Gambling Commission who control the activities of operators on digital platforms, race tracks, and licensed betting offices (LBOs).
The UK has a long history of gambling and its current success is down to a variety of factors that have helped the industry continue to grow and develop.
Tech
Technological developments have been crucial to the UK gambling industry’s growth. Improving mobile technology and high-speed connectivity have helped the online gambling industry in the UK immeasurably.
Consumers are now able to access immersive gaming experiences on the move, at any time of the day or night. These developments have seen the UK’s biggest operators move into the online sector, competing against new and emerging brands.
The development of cryptocurrencies has also added another payment method for consumers, with casinos accepting Bitcoin and other popular crypto options able to offer a selection of benefits.
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It is not just the online side of operations that has benefitted from emerging technologies with casinos and LBOs enjoying great success from fixed odds betting terminals (FOBTs) and electronic betting terminals.
Choice
Many countries around the world have strict limitations on what market operators are able to offer. The UK has some of the best gambling because of its diverse nature.
Horse and greyhound racing are popular markets with thousands attending meetings every week and many more placing bets online or in betting offices.
The UK is also a nation of sports lovers, with football being the national sport. Hundreds of fixtures are played every week with a great selection of markets, and bettors can also test their knowledge of football from leagues around the world.
It is not just football that consumers can gamble on with other popular sports like rugby, tennis, and golf all welcoming a selection of betting markets.
The gambling industry is vital to many sports associations, leagues, and clubs thanks to the millions spent on sponsorship deals.
Land-based casinos are a popular venue for nights out and attract serious gamblers as well as those new to it. Bigger towns and cities tend to have casinos with a great selection of electronic games as well as table games.
Mini-casinos typically feature gaming machines like slots or fruit machines and can be found on high streets up and down the country.
The UK’s online gambling industry is going from strength to strength will a huge variety of operators. Specialist sites can focus on one particular sector including casino games, sports, or racing, while others cover a broader spectrum of markets.
Deals
The competitive nature of the UK gambling industry makes it an excellent environment for the customer. This is because operators have to offer the best service, selection of games, and deals in order to stand out from competitors.
Land-based bookmakers won’t typically have as many offers, however, they can provide enhanced odds or deals for major sporting events or races.
The online gambling industry is the best place to look for deals with operators offering free bets or spins, deposit-matching deals, cash-back offers, and much more. This can be a great way to entice new customers, while loyalty programs can improve customer retention levels.
Regulatory Framework
Having a strict regulatory framework in place for gambling might seem counter-productive for the industry from the outside, but the guidance it provides operators makes it a much more secure environment in which to work.
Countries without these kinds of rules and regulations can often deter operators who are concerned about what they can and cannot do, and there is also the potential for regulatory change to have sweeping side effects when it does come.
The UK’s market-leading governing not only attracts businesses but also serves to protect consumers. This allows bettors to enjoy the fun of excitement of placing a bet while having the peace of mind to know that operators must adhere to a strict set of standards.
Tax and Employment Benefits
Many global governments openly oppose gambling reform, but the UK has been able to benefit from revenue generated by the industry.
The industry has also been instrumental in improving employment figures, with just under 100,000 working in the gambling industry.
Conclusion
The UK’s gambling industry continues to provide consumers with an excellent selection of markets and operators to choose from. While recent years have seen the decline of high-street bookmakers to some extent, market saturation had peeked and it was inevitable.
However, many of these operators saw the change in consumer behaviours coming and moved towards online operations. Continued technological developments will only serve to help this new trend’s continued growth.