The state of the UK gambling industry in 2019 The online UK gambling industry is worth around £5 billion and each year produces record highs. It accounts for nearly one-third of all bets placed with the UK's gaming yield producing more than £14 billion. The gambling industry in the UK has grown steadily over the past decade. Between 2011 and the end of 2019, the gross gambling yield (GGY) for Great Britain rose by approximately £6 billion to £14.3 billion.
Gambling from the comfort of your own home is big business. And the latest figures from the online gambling industry support that assertion!
Whilst the 2019/2020 figures are yet to be released, in the year April 2018-March 2019, the gross gambling yield in the UK alone was £14.4 billion. Of that figure, £5.3 billion was secured via the remote sector, i.e from gambling online.
The reason for that success? Aside from the fact that online gambling is both easy and convenient, exciting innovation within the online gambling sector is attracting more and more new customers to the arena. Here is a breakdown of how we can expect the industry to achieve their forecasted growth over the next 12 months:
Growth in New and Existing Online Sites
Firstly, we will see more new online casinos being introduced to the market throughout the year, whilst established brands such as https://www.cashino.com/casino will continue to grow by introducing new and exciting games that will encourage existing customers to both return and to spend longer on the site. Now increasingly sophisticated games are appealing to the general public and this isn't something that is set to change in 2020.
As well as the modern and exciting gameplay, it is the drive of technology that has been so essential in helping the sector to mature and grow so rapidly: we don't expect this trend to buck in 2020. Here are the three main areas which are expected to see more growth in 2020 in the online gambling industry:
Artificial Intelligence
Artificial intelligence is something that many people are very wary of, but it is being introduced to online gaming to create a more intuitive gaming experience for players. Effectively, artificial intelligence is being adopted by online casinos to remember its customers and their preferences. If you prefer poker games, for example, then you will always be pointed in the right direction, making it easier and more effective to find and play the games you most enjoy.
Augmented Reality and Virtual Reality
Augmented and virtual reality will be introduced to online gaming in a bit to create a feeling of a real 'bricks and mortar' casino, but from the comfort of your own living room. Real games with a real croupier can already be enjoyed on many sites, and virtual reality will only make this whole experience more real. The only draw back to VR is that the headsets required to enjoy these are still very expensive, but it is expected that the price of these will drop slowly over time.
More Ways to Pay
From 14 April 2020 the use of credit cards will be banned on gambling websites, in a bid to prevent problematic gambling and gambling addiction with money that people simply don't have.
But more and better ways to pay are being introduced to gambling websites to ensure that the process of paying for your games are integrated, and would interfere with your game play. Online wallets are already making inroads with most of the larger casinos accepting them, and it is forecast that in 2020 online casinos will begin to accept cryptocurrencies such as Bitcoin and Ethereum as standard.
Uk Gambling Industry Profits Companies
Tighter regulation, higher taxes, and a constant flow of negative media coverage caused the UK's gambling market to decline for the first time on record in 2019. As the UK prepares to leave the European Union in three months' time, the world's largest regulated gambling market no longer has the appeal it once did and operators are looking abroad to generate new revenues.
According to recent Gambling Commission figures, in the year to March 2019 revenues in the UK gambling market fell from £5.6bn to £5.3bn. And after UK authorities moved to ban gambling firms from accepting credit card payments from April this year and brought in new stringent rules on age verification in May, the market does not look any easier this year. In fact, restricting gambling has become a rare cross-party issue in Westminster in a period of otherwise increased polarisation. Seven seas casino chula vista.
The tougher climate has affected gambling businesses of all sizes in recent years, with Royal Panda, Aston Casino, and MaxEnt all pulling out of the UK market this year and William Hill, one of the UK's most well-established bookmakers, has failed to secure any major deals since it turned down a £3bn merger with Rank Group and 888 Holdings in 2016.
Nonetheless, 2020 has provided a surprise bonus for online gambling operators, with the coronavirus crisis, which saw gamblers spending more at online casinos and bookmakers. According to the Gambling Commission, data provided by UK operators such as 888 Casino, Betway Casino, and others a Gross Gambling Yield (GGY) increase of 115% for online real event betting between May and June (rising to £217.5m), with GGY higher during June than at ‘average' pre-lockdown levels.
As the crisis took hold, UK authorities acted to protect players, warning operators to look out for online sessions lasting over 60 minutes, and to closely monitor players that had changed their pattern of play, which dampened potential growth. And as the UK eased lockdown restrictions and started to bring the furlough and other financial protection schemes to a close, it appears gambling levels have begun reverting towards the mean.
Uk Gambling Industry Profits Stocks
The brief period of growth this year has given UK online gambling operators some respite, but the trend is towards lower UK revenues and many firms have begun to look abroad for growth. Bet365 has turned its focus on unregulated territories in Asia, whilst Ladbrokes Coral owner GVC is expanding in Brazil. The global nature of the internet also provides online operators international audiences with offers of free spins at Jackpot City NZ or free bonuses upon signup designed to attract players in from a variety of countries. Meanwhile, in the wake of the 2018 Supreme Court decision to legalise sports betting, the US has become the hottest market, with both William Hill and GVC inking multi-year deals in cooperation with sports broadcasters.
