The online gambling industry in the UK is one of the most competitive and rapidly growing markets in the world. According to a report by Statista, the industry was worth £5.3 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.9% to reach £6.7 billion by 2022.
Much in line with the growth of the online betting industry (with a great number of people betting on the NHL while looking for the best odds to win Stanley cup on websites such as BetUS), many UK gamblers want to take their betting game to the next level.
In this text, we’ll explore the growth and trends of the online gambling industry in the UK for the year 2022, and help you get a perfect insight.
How has the online gambling industry in the UK changed since it was first established?
The online gambling industry in the UK has changed significantly since it was first established. In the early days, there were only a handful of operators offering online gambling services. However, this has changed dramatically during the last couple of years, with the number of operators now running into the hundreds.
One of the most notable changes is the introduction of new technologies that have made it easier for players to gamble online. In particular, the development of mobile gambling apps has made it possible for players to gamble on their smartphones and tablets.
Another change that has taken place is an increase in the number of promotions and bonuses being offered by online gambling operators. These bonuses are designed to attract new customers and keep existing ones happy.
The impact of Brexit on the online gambling industry in the UK
Now, let’s try to tackle this largely sensitive question on the impact of Brexit on the online gambling industry in the UK. Unfortunately, the outcome is still uncertain, but we’ve got some known facts to present you with.
The main concern for the industry is the potential loss of access to the European market. If the UK leaves the EU without a deal, it would mean that UK-licensed gambling operators would no longer be able to offer their services to customers in other EU countries. This would have a significant impact on the industry, as around half of all online gambling revenue in the UK comes from EU customers.
Another concern is the possible introduction of new taxes and regulations on online gambling if the UK leaves the EU. The government has said that it wants to review the current tax regime for online gambling, and there are concerns that this could lead to an increase in taxes for operators. There is also a risk that new regulations could be introduced which make it more difficult for UK-licensed operators to do business in other EU countries.
If a deal is reached which allows UK-licensed operators to continue to offer their services to customers in other EU countries, then the impact is likely to be relatively limited. However, if no deal is reached or if new taxes and regulations are introduced, then the impact could be more significant.
Growth and trends for the online gambling industry in the UK, 2022
After reading this detailed outline of the online gambling market in the UK, it’s time to learn about the trends for 2022. Let’s get on it right away.
We know that the UK’s online gambling market is highly competitive with many established players such as Bet365, William Hill, and Ladbrokes. New entrants such as 888 Holdings, LeoVegas, and The Stars Group are also challenging the incumbents with their innovative products and aggressive marketing campaigns. The industry is expected to continue consolidating in the coming years, with smaller players being acquired by larger ones.
We must also point out that the online gambling industry in the UK is heavily regulated by the Gambling Commission, which has put in place strict rules and regulations to protect consumers and ensure that only licensed operators can offer gambling services. The commission also works closely with law enforcement agencies to crack down on illegal gambling activities.