Despite tough economic times, reports suggest that online gambling is still a success in the UK. Revenue from the industry continues to rise consistently in the last decade.
This can be partly attributed to the proactive method of issuing licenses and regulations. It has allowed the online gambling scene to flourish and in return the government benefits when it comes to tax collection.
What factors have contributed to this boom, and what does the future hold? You can say the success in online casinos is as a result of the authorities getting it right from the beginning. They have come up with a strict but favorable environment that promotes online gambling. Additionally, technology enhancements and reduced stigma towards online gamblers have attracted new players.
Development in technology and new casinos
Technological developments are one of the main reasons for the rise of revenues collected in the online gambling sector, especially in mobile gaming. The fact that you can play anywhere at your own convenience had made online gaming even more popular.
At this period when the economy is not doing very well, we have noticed a rise in new casinos. Gamblers are highly visiting new Best online casino since they use modern technology together with amazing design and graphics. There is a myriad of new casinos in the UK being launched every year.
Note that not all new casinos are a success. However, the fact that new players continue entering the online gaming industry is an indication that it’s doing well.
Having a favorable legislative environment
When you look at most European nations, you can tell that most of them are still struggling to find ways to regulate the online gaming scene, and gain more taxes from them. Some sectors have opted to stay highly unregulated while others are doing the opposite. They allow gamblers to gamble only at state-sanctioned and owned arenas. In both instances, it has led to the rise of gamblers who opt to play in offshore sites in other nations where they are less protected. The government also misses out on revenues.
In the UK, the 2005 gambling act and the establishment of the UK Gambling Commission back in 2007 was the beginning of a successful gambling industry. It also made sure that the online gambling market remained under the UK. The act allowed TV ads for online casinos which saw a rise in online gamers.
The commission also licenses operators and controls the whole industry. As long as an online casino adheres to the required conditions, any person is free to win an online casino.</p.
Online casino gaming as a form of entertainment
As said earlier, stigmatization has highly reduced. The public has changed how they perceive gambling. A while back, people linked casinos and gambling to vices, so online gaming also received a bad image as well. However, this changed when casinos were allowed to advertise.
Most UK gamblers don’t just want to win. Most of them see it as a great way of entertainment. A study by UKGC showed almost a third of gamblers primarily do it for enjoyment and fun. Reports show that online gambling has become part of our entertainment method.
The number of female gamblers is on the rise as well. Not long ago, people viewed gambling as a masculine activity. However, in the modern-day, the number of female gamblers has increased. This can be attributed to the rise in mobile gaming, which has enabled people to play in private. There are even providers who have designed specific products for women.
A thriving industry in the UK
If you are keen, you will notice there are several reasons why online gambling is doing so well in the UK. Authorities were ready to come up with a favorable environment for gamblers and providers. Although other nations are experiencing a decline in the online gambling sector recently, the UK market has shown steady growth. The change in public perception of gambling, enhancement in technology, and more new gamblers have all contributed to the growth. This growth should continue.