The rise of online gambling in Ireland and UK
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Online gambling has been on a steady rise in different parts of the world, and Ireland and the UK are no exception to this trend. More and more people are turning to virtual casinos seeking entertainment, and in return, the providers continue adding exciting new features that will keep the players coming for more.
Thanks to the increased accessibility and all the latest tech innovations, the hype behind web-based gaming is unlikely to cease, and if you wanted to learn more about its development in Ireland and the UK, this article is perfect for you.
Market size
At the moment, the United Kingdom is the largest regulated online gambling market in the world, with a total gross revenue of around $12.5 billion. Both online casinos and sportsbooks which did not even exist only two decades ago, now bring in billions in revenue each year, mostly thanks to the increased accessibility of virtual forms of gambling.
Moreover, the development of the industry is so successful in the UK that the market size even surpassed the one of the US, even though the latter’s population is almost five times larger. The online gaming industry in the US currently stands at around $11 billion, which is $1.5 billion less than in the UK.
When it comes to Ireland, the online gambling industry generates more than $5.3 billion per year, which is a substantial amount of money for such a small area. The number of players also increased significantly, going from 20 million in 2009 to approximately 34 million in 2020.
At the moment, Ireland makes up 2.6% of the total online gambling market revenue in Europe, despite the fact that the island accounts for only 1.1% of the continent's population.
Gambling regulations
In Ireland, gambling is regulated by the old Betting Act from 1931, which was later amended in 2015. However, the term “betting” is not clearly defined in Irish law, so it gets determined by the standard law system of the country., or its courts.
However, during the time of the Gaming and Lotteries Act (1956-2019), gaming was described as getting involved in a game of chance or skill that includes particular stakes invested by the players. In addition to that, there are two other significant laws that contribute to the betting industry in Ireland: The Totalisator Act (1929) and the Gambling Control Bill (2013).
Thanks to all the regulations in place, basically all forms of wagering are legal in Ireland, including online casino games. Being such a fertile ground for virtual gambling, the Irish market welcomes a number of online gambling sites that the players can choose between, and many of them turn to reputable online sources that can help them choose the best and most reliable platforms.
Being one of the biggest casino sources in the Irish industry, Irishluck.ie was once again the favourite choice for online casino enthusiasts in the past year.
As for the UK, the skyrocketing of online gambling can largely be attributed to the Gambling Act of 2005 which allowed gambling businesses to advertise online casinos, sports betting and poker, even on television and radio.
The Act was then succeeded by the UK Gambling Commission in 2007, which remains a regulatory body even today. The Commission controls the use of sports betting, bingo, lottery, poker, and other categories of casino games.
On top of that, until 2014, the law allowed remote operators to provide services to British consumers without having to hold a UK license. The British are also presented with an exciting selection of online gambling sites, and choosing the best one is not always an easy task.
What drives the growth?
The main reason behind the rise of online casinos is the widespread availability of stable, high-speed internet connections, as well as the increased accessibility to affordable smartphones and other portable devices. Thanks to such technological advances, players can easily access their favourite games whenever they want, at any given time.
And even though there are many complex devices available out there, online gaming does not require costly equipment, which also makes it affordable. Moreover, the latest technologies also enhanced the overall security of the user’s sensitive information, making it much harder to access, even when it comes to skilled hackers.
Finally, the initial growth of the industry was boosted by the recent Covid-19 pandemic which forced people from all over the world to replace their existing habits with home-based entertainment. As a result, people from the UK and Ireland replaced land-based casinos with their online counterparts, learning to embrace the convenience of web-based gaming.
The expansion of mobile
As of 2019, there are more than 2.2 billion mobile gamers on the planet, which serves as one of the main prerequisites for further development of the online gambling market.
As a result, the global online gambling industry is expected to reach $95 billion by the end of 2025, and the expansion will surely affect the stats in the UK and Ireland as well. The leading software developers are aware of the hype behind mobile gaming, so they continue to enhance the offering with new titles, features, and effects.
Next to that, today’s online operators modified and perfected their software so it could work on literally any device. Moreover, leading virtual gambling providers paired their websites with complementing apps that work both on Android and iOS, making it even more convenient for customers to engage in gaming on the go.
Transformative tech innovations
Check out some of the latest technological innovations that continue reshaping the iGaming industry in the UK and Ireland, as well as in other parts of the world:
Live Dealer Games
One of the most noteworthy features of modern online casinos is definitely live dealer gaming which allows the players to feel the authentic atmosphere of land-based venues without actually leaving their homes.
The users can use live streams hosted by real dealers and enjoy interactive sessions of their favourite games including poker, roulette, and baccarat. Recently, online gamblers also developed a strong preference for live slot machines which are now designed to include a live chat feature which makes the experience a little less solitary than before.
Cryptocurrencies
The rise of cryptocurrencies like Bitcoin and Ethereum continues to affect all sorts of industries, and gaming is surely one of them. The use of cryptocurrencies allows players to make immediate deposits and withdrawals, without having to worry about the safety of each transaction.
Moreover, there is no need for third-party payment processors, and there is an extra layer of privacy which comes from the fact that no transaction is followed by a bank statement witnessing the financial activities of a user on a particular platform.
Virtual Reality
Virtual reality gaming is by far one of the most transformative trends on the online gambling scene, as it pulls the players into fully immersive experiences. VR basically takes casino gaming to a whole new level, providing users with incredibly realistic adventures they can actually access from the comfort of their homes.
All they need to do is pick a VR headset and they’re ready to go. The feature includes both 3D game tables where each player can pick a seat, choose fellow players, and communicate with them through in-game chats. Additionally, users can choose to launch realistic slot machines and enter 3D game rooms with fine details that mimic the reality of a land-based venue.
Cloud computing
A large number of today’s online casino games are primarily based on cloud computing - one of the latest technologies that are expected to transform the iGaming scene. Cloud computing is a practice where the gaming data is transferred from your personal device, be it a PC or a smartphone, to a remote server or an entirely different computer.
As a result, you get to access all your favourite pieces of content without having to download or install apps on any of your devices. The use of cloud computing does not require any additional hardware, and as long as you are connected to the internet, you will have all the games at your fingertips.
E-Sports
When it comes to their favourites, the majority of players from Ireland and the UK would agree to pick sports betting. Therefore, the emergence of e-sports is a popular trend in the areas, as well as a major new force in the global sports betting industry.
The majority of today’s online sportsbooks feature e-sports and live streaming capabilities, showcasing massive virtual tournaments to their audiences. The trend is an amazing way to capture user attention, as it allows the members to compete in virtual events, and to bet on the outcomes of such tournaments.
According to statista.com, this industry segment is expected to reach $7.4 million in 2023.
Both Ireland and the UK are witnessing a tremendous rise in the popularity of online casino gaming, which can mostly be attributed to some of the latest technological innovations. As the players get more and more interested in new game options, the providers keep treating them with fresh content, and it will be exciting to see how the industry develops in near future.
