One of the world’s largest commercialized gambling markets, the UK iGaming sector outperforms Australia, France, and the US, with online gambling revenue on pace to reach USD13.78 billion in 2024. The increasing popularity and growth of online platforms are major factors boosting the gambling market in this European country. Whether it be lotteries, poker, sports betting, or online casinos, in the UK every gambling niche is legal, and business is booming!
2005 Gambling Act
Timely changes, namely the 2005 Gambling Act, have propelled this market forward and helped establish it as a standard in the industry. Not only did the Act change the law on gambling to encompass online gambling and new-generation gaming machines, but it also provided for the abolition of the Gaming Board, establishing a Gambling Commission and creating a new licensing regime. Operational since September 1, 2007, the new Act changed the way gambling is enforced in the British country. Antiquated gambling laws were comprehensively updated, while both old and new forms of gambling were provided new powers and protections, with some 90 percent about the latter.
Through the Act, significant changes strengthened defenses against problem gambling while various areas of online casinos and sportsbooks, such as fraud protection, anti-money laundering rules, security measures, underage gambling and marketing were also covered. The new law also allowed aggressive gambling advertising, which is realized in the approximately £1.5 billion spent annually
Major Market Drivers
Other major drivers of the market’s substantial growth include improvements in internet connectivity and a growing demand for desktop and mobile applications. Also aiding in the gains in the UK iGaming sector are sites such as whatbonuscode.co.uk, which collects and tests bonus codes for legal UK gambling sites. The latest offering from GamblerLabs ApS’s, a company with ten-plus years of experience in the UK gambling market, works exclusively with legally compliant casinos in the country and provides unique promo codes and opportunities for exceptional welcome bonuses.
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As mentioned, a major factor boosting the UK gambling market is the growth of online gambling platforms. This prevalence can be attributed to fewer restrictions like those in countries such as India and China, where bans have seen gambling driven underground. Moreover, online gambling sites remove constraints found in brick-and-mortar casinos, offering a virtual route for prize-winning games.
Advanced Technology
Also supporting the proliferation of internet gambling is the widespread use of mobile and computing devices, which is especially prevalent among younger players. Playing a key role in reaching untapped groups, mobile advertisements influence this demographic to explore virtual gambling. With a significant age gap between online gamblers – 34 is the average age, compared to 45 for land-based casino guests – the growing preference of younger people for online platforms is also a substantial driver of market growth.
Another notable contributor to gambling growth is the emergence of artificial intelligence (AI). A major market trend, AI is not new to online gambling, however, it is now being manifest through live dealers and real-time interaction, mirroring traditional gameplay digitally and creating more immersive experiences. AI is a further example of the industry’s embrace of developing trends and advanced technology, in particular the transition from the physical world to virtual spaces.
According to Statista, online gambling revenue in the UK is expected to grow at annual rate of 3.62 percent (CGAR 2024-2029), with USD 16.46 billion the projected market volume by 2029.
