The profits from online gambling in the UK are huge. According to a market report from iGaming, gross revenues are set to soar beyond the £5 billion mark by the end of 2016. This figure is based on an impressive 12 per cent growth rate. In fact, research from PWC shows that the UK remains the largest gaming market in the world.
While gambling was once mainly the preserve of men, online sites now bring whole new social groups to the tables, including increasing numbers of university students and women. So what are the reasons for the popularity of UK online roulette, poker, slots, sports et al?
Modernised regulations
Having legalised online gambling in 2005, the UK was ahead of the pack in terms of its legal ability to innovate and develop online gambling in the marketplace. UK citizens may legally place bets on government-approved sites not based in the UK. This reduces tax restrictions on offshore operators.
This in turn allows operators to offer a host of bonuses, discounts and other special offers. The Gambling Act of 2005 modernised the laws on gambling and by doing so, allowed the UK industry to flourish.
Convenience and variety
Punters can place bets at any time of the day or night. In contrast to regulated high street betting shops, they can use credit cards to make payments. Meanwhile, the popularity of smartphones, as well as better, faster technology as a whole provides a much more immersive, enjoyable experience than it once did.
Access to 4G via smartphones gives Brits similar internet connection speeds to those they enjoy on their home computers. Operators also offer host of well-designed and easy-to-use smartphone apps. As a result, online gambling offers much more variety, platforms and payment options.
Sports spread betting is one innovation made popular by online gambling sites. While riskier than standard wagering, things like this add to the sheer excitement of online betting.
Perhaps the most exciting aspect of online sports gambling is in-play betting. This allows punters to bet make a wide range of different bets on events during a game while it is being played. Examples of bets punters may wish to place include the scorer of the next goal, or the next team to score.
As well as variations on traditional sports and casino gaming, online sites offer different takes on sports fantasy betting. Users can create their own fantasy team of players and bet against other gamblers, rather than against the operator. This is proving hugely popular with Brits.
Sites like Paddy Power take bets on all kinds of things; from the outcome of Brexit, to the US Presidential race. By contrast, political betting is illegal in the United States and many other countries. As of writing, Paddy Power even offers a range of “Donald Trump Specials”.