Gambling is big business in the United Kingdom and the industry is growing at a rapid pace, in 2008 it was worth around £8.4 million and has since doubled in value over the last thirteen years. This industry encompasses everything from land-based casino venues and bingo halls to online betting and casino websites.
In particular, online slots are a popular form of gambling and casino game in the UK. Instead of a generic casino site offering slot games, there are now dedicated slot providers such as winkslots.com who focus solely on slot games and therefore offer a wide range of themed slot games for their players to choose from.
Let’s take a deep dive into the UK gambling industry, including its size, the types of gambling that are popular and what we can expect in the years to come. To begin, let’s compare the market size in the United Kingdom to other regions across the world:
It is anticipated that the global gambling market will reach $516.03 billion US dollars by the end of this year. The Asian Pacific accounts for the biggest share of the global market at 38 percent, then there is North America at 29 percent, followed by Europe & the United Kingdom, with the smallest market being the Middle East.
The rise of online gambling in the United Kingdom
Online gambling is now outpacing traditional land based gambling in terms of growth and market value. Over 23 percent of those aged between 25 and 34 years old and 22 percent of 35 and 54 year olds participate in some form of online gambling each month.
There are currently over 30 million active remote gambling accounts in existence, this huge sum demonstrates the sheer scale of the online industry. Increasing demand is being driven by increased adoption and accessibility of more affordable mobile devices, in addition to increasing internet penetration and the rollout of the 5G network.
There are a number of reasons that many players prefer playing remotely rather than at in-person venues, just a few of these include:
Playing on an internet-based casino or slots site couldn’t really be any easier, they can be accessed in seconds via computers, smartphones and tablet devices. In contrast, to visit a land based venue, players must make the time, plan and budget for transportation and arrange for friends to come along if they don’t fancy a solo trip.
When playing online you can play from the comfort of your own home, on the bus during your morning commute or anywhere that suits you.
Improved security and regulation
Online casino sites have existed ever since the world wide web launched publicly in the 1990s. Sites back then were very basic and did not have much in the way of security or data protection.
However, these days you can select from a variety of different payment methods, including secure third party providers such as Skrill or PayPal. Sites must also encrypt their data and have an SSL certificate, alongside a number of other safety measures.
These are overseen by the UK Gambling Commission who is responsible for issuing licences to both online and offline gambling businesses operating in the United Kingdom.
Choice of games
When visiting a land based casino venue, your game choice is limited to the machines and gaming tables that are available on the gaming floor. These venues are restricted by their physical size and the higher overheads that they must manage.
Whereas, online casinos and slot providers have a much bigger variety of games, you can find plenty of different variants of poker and roulette games, alongside many different themed slot games. When playing online there is no waiting for your turn to use a certain machine.
Also, if you cannot find your favourite game then you can find and sign-up to a different site within minutes.
Bonuses and promotions
The online gambling industry is hugely competitive and so operators have had to find new ways of maintaining their competitive advantage and attracting new site users. This is why almost every site will offer generous bonus and promotional offers, such as a welcome bonus or no-deposit bonus.
It is important to check the wagering requirements when signing up to these as you need to meet certain conditions before you can withdraw any winnings you have made.
What are some of the most popular online casino games in the United Kingdom?
These are the five most popular games that are played on internet based casinos:
Many sites now host live poker and roulette games. These games allow players to play from home but join in with the live gaming experience that players get to enjoy in a physical casino venue.
What does the future hold from the online gambling industry?
As demand continues to grow for online casinos in the United Kingdom, casino sites and game developers will continue to find new ways to attract and entertain their users. Virtual Reality casinos are just one recent innovation, these sites enable players to ‘walk around’ a VR casino and interact with other players in real-time.
The number of online casinos that allow online cryptocurrency payment is also likely to increase as more and more people adopt this currency to make safe and private transactions online.