UK Casinos Struggle To Compete With Rapid iGaming Growth
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Gambling has been a large part of English culture since before the Victorian era. However, due to the advances in technology over recent years, brick-and-mortar casinos are becoming less relevant. Nowadays, people can carry out many of their hobbies, including gambling, online.
UK Gambling History
Gambling is a massive part of British culture, and it has been since the Victorian Era. Gambling houses and brick-and-mortar casinos grew in popularity at this time. Horse racing and sports betting were more accessible too. Even if you couldn’t get to a racecourse, you could place a bet through the telegraph.
The growth of gambling in the UK continued through to the 20th century. The betting opportunities expanded with the addition of the National Lottery, online casinos, and in-play sports betting.
Gambling in the UK Today
In the UK, gamblers collectively spend millions on gambling every year. Gambling is much more accessible in the modern world of technology. You can gamble online from your desktop or mobile. You don’t have to rely on opening and closing times, travel, or additional expenses that come with going to a land-based casino. This is one of the many reasons why iGaming has seen rapid growth in recent years.
One of the most popular forms of Gambling across the UK is horse racing. In 2019, the estimated number of people who placed bets at The Grand National was 12.9 million. In addition, there are many places to gamble around the UK, from playing bingo in village halls, playing slot machines in the pub or at a land-based casino, and placing bets on various sports in betting shops.
However, the popularity of betting in these places is diminishing. Instead, more and more gamblers are choosing to place bets on their favourite sports and play UK slots online. 5G and smartphones have made gambling online much more accessible. Gamblers can choose when they want to play without having to leave their houses.
The gambling market in the UK was stated to be over 14 million pounds in 2022. Research also states that 3 million pounds of this accounted for online gambling. This huge portion accounts for 38.8% of the UK’s gambling revenue stream.
Why iGaming is Rapidly Growing
Connectivity is the biggest reason for the rapid growth of iGaming. With WiFi in the majority of public places, accessibility of smartphones and fast internet, it’s easy to gamble anywhere at any time. As a result, gambling online is now easily accessible for most adults over 18 in the UK.
With technological advances, there has been so much developmental growth in the online casino world. You can access thousands of unique online slots at your fingertips in an online casino. So it’s easy to understand why more and more people choose to gamble online rather than going to a land-based casino.
There are so many casino games to choose from online. There are online bingo, scratchcards, lotteries and multiple variations of popular casino games such as poker, roulette and baccarat. There are even live dealer casino games which is great for those that miss the social element of going to a land-based casino.
There are thousands of slot games to choose from with different themes, features, jackpots, and more. So the choice really is endless! Moreover, every day, there continue to be brand new casino games to play and enjoy.
As well as the endless choice of casino games to play online, another reason for the rapid iGaming growth is the variation in payments. Online casinos now offer various payment options, making gambling online accessible for more people.
Players are not restricted to debit cards or bank transfers. There are now many options to pay when gambling online. These include digital wallets such as PayPal, digital or cryptocurrencies such as BitCoin, prepaid cards, credit transfers, wire transfers, and debit cards. Having such a wide variety of payment options available makes gambling more accessible.
Continued Growth and the Future of UK Online Casinos
Between now and 2030, online gambling is expected to grow and make up around 50% of the UK’s overall gambling market. This trend strongly relates to the diminishing popularity of high street betting.
iGaming offers a great alternative to high street betting in the UK. Gamblers in the UK don’t need to think about where the nearest casino is. They can easily access many casino games online, with the only requirement being internet access. Online casino gaming, gambling is more accessible than ever before, with an abundance of casino games and online slots to choose from.
