The Economic Growth of the Gambling Industry in the UK

The gambling industry in the UK has significantly grown over the past decade. In 2011, Britain’s gross gambling yield (GGY) has increased from £8.4 billion to £14.2 billion as of 2020.

There are several reasons for why the industry has shown such growth over the past ten years. From the increased number of apps dedicated to sports betting, to the wider range of virtual casino games available, there are now more ways to gamble than ever.

These are the main factors that have been driving the economic growth in the industry.

Why has the online gambling industry seen so much growth?

The online gambling industry is proving resilient, with different sites and apps replacing physical casinos and betting shops as the go to location for gamblers. Between April 2019 and March 2020, there was a 26.4% decrease in non-remote betting, and a 4% decrease in non-remote casinos.

In that same time, the remote betting, bingo, and casino sector increased its GGY by 8.1%. This industry had a total £5.7 billion GGY, compared to £2.4 billion for betting and £1.0 billion for casinos.

According to the Gambling Commission’s 2020 report, this makes remote betting the largest sector, comprising 39.9% of the gambling market. Broken down further, online casino games generate £3.2 billion of this, predominantly from slots games.

So, what are the main factors driving the migration of gamblers from casinos to online spaces? For starters, there is a greater variety of games available.

Bricks and mortar casinos are limited by the amount of space they have, so will tend to favor the most popular slot games. If you are looking to try out something different, this could be disappointing - but luckily, there is a wider variety available on several websites.

Then there is the ease of access. Casinos are limited by opening hours, but the internet allows people the opportunity to play 24/7, and against players across the world.

It is also beneficial for those who do not want to gamble with real money, with free slot games available to play at a variety of sites.

And there are a growing number of mobile apps that allow the user to play on the go. With state-of-the-art technology and interactive play, you can recreate the thrill of a casino at home.

Which games are most popular online?

Slot games are the most popular form of online gambling

The Gambling Commission reported that the vast majority of the £3.2 billion generated by online betting is through slots. So, which of these games are the most popular?

The most popular of all slot games, both in the UK and worldwide, is currently Starburst. This is a classic challenge with up to 10 pay lines, which you can play online for as little as a 10p deposit.

Aside from slots, other classic casino games dominate the global popularity charts. Gamblers cannot get enough of roulette, blackjack, and video poker - especially with more chance to play live, real timetable games.

Bonuses and promotions help drive growth

Most online casinos will reward new players with a welcome bonus, to persuade them to start gambling right away. There are a variety of different incentives that are used to encourage new players to sign up.

One of the most common is the deposit bonus, in which sites will equal the amount of money you place as your deposit in the site. Other sites may offer free credits which you can use to gamble and win real money.

And this has been shown to immediately encourage new users to start playing. Several sites offer 100% bonuses on top of a maximum £100 deposit, and these incentives have been proven to get people playing straight away.

The popularity of online slots

So, why are online slots the most popular of all casino games? Once again, it comes back down to the low risk factor in comparison with other virtual casino challenges.

This is because many of these sites offer users the chance to try out games free of cost before they start paying to play. There are several big advantages to this and help showcase why this sector is by far the most popular of the whole online gambling industry.

A site like Wink Slots allows users the chance to try out different games with no charge before they place a bet. These Wink Slots free spins have more advantages than merely reassuring the user that the site is safe to use though.

By letting potential gamblers have a go before depositing their own money, they can see which games are best for them. Users are given the chance to see what they enjoy playing before adding real stakes - allowing for the user to see where they can have the most fun playing.

As more people are spending an increased amount of time at home, expect the online gambling sector to continue to grow in 2021. And if sites continue to offer incentives and give users the chance to try games out for free, expect it to increase in size over and above the current rate.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes