The global online gambling sector has been going from strength to strength in recent years, and at its heart, the UK continues to be home to many of the most prominent players in the game. But what is it about Great Britain and, in particular, its capital that keeps the iGaming industry local?
Gambling in the UK
The UK has a long history with gambling and it was one of the first to start issuing online gambling licenses when the sector was in its infancy. This is due to, in part, a penchant for gambling amongst the British people. For example, horse racing is one of the most popular forms of gambling across the isles, along with bingo, both in village halls and real money online bingo. The popularity of bingo and other forms of betting has been further propelled by the digital revolution, including 5G and accessible smartphones which have made it much easier for players to gamble on the go, whether pounding the streets of London or chilling at home.
In 2022, the total value of the gambling market in the UK was over GBP 14 billion, with online activity accounting for over GBP 3 billion. This is a massive chunk of the country’s GDP and provides a much-needed revenue stream for operators and the government.
What’s driving it?
As mentioned, increased connectivity has a considerable part to play in the popularity of online gambling in the UK. Smartphones, fast internet, WiFi everywhere, and affordable data packages make it much easier for people to play and gamble on the go.
But this is not all. In recent years, consumers have been enjoying the variety that online gambling sites have to offer. Whereas casinos are limited to a physical location, in the online world, players can choose from thousands of games and live dealer options, and they can bet on almost anything they choose. There is also a neverending selection of lottery, bingo, and scratcher options for them to enjoy.
Another reason behind the growth is diversification in payments. Players are not constrained to just bank transfers or credit and debit cards anymore. Now they can pay through digital wallets, prepaid cards, digital or cryptocurrency, and various other payment gateways. This means gambling is much more accessible, even to those who don’t want to use conventional methods.
But in the capital of London, some of the industry’s biggest names are present. Paddy Power calls the city home, as do many of the other most prominent names in the operator, game development, software companies, affiliates, and specialist iGaming service providers. This is a testament to the city’s reputation as a business hub, as well as the strength of the gambling sector in the country.
For those that live in London, the presence and strength of the sector pose great opportunities for career progression. For those that live anywhere, the growth of the UK and London gambling sector means plenty of opportunities to engage with great games with a range of different themes.
