Those of you who watch the news will have noticed that there has been a steady increase in various global markets. Among these many markets, online gambling is one of them and is predicted to grow bigger. This is unsurprising considering the sheer amount of new games and mobile casinos that have emerged in the last few years. This means we’ll see more swanky casinos like bet365, Mr Green and Casumo, as well as new titles like Spiñata Grande, Casino Cubes and Spin Sorceress. How exciting!
A Thriving Industry
Experts predict that between now and 2020, the online gambling market is set to rise by 11%. This is a staggering amount considering a lot of countries in the world have made gambling illegal.
Of course, it’s more understandable once you consider how much the digital revolution has changed the world. With the rise in social media and interactivity between to many handheld devices, online gambling has become a far more accessible past-time. Let’s also not forget that this makes any gambling one may do far more private.
In the past, public gambling either took place in a casino or a betting shop which is far more public. Because a lot of people associate it with addiction,the need of more personal, private gambling was therefore a fertile market ready to be exploited.
Europe’s Market Share
Perhaps unsurprisingly, it turns out Europe is the biggest contributor in the worldwide igambling market. The European Commission estimated that around £10 billion comes out of our continent every year. That’s a staggering figure!
But what’s probably even less surprising is that the UK is the biggest cash cow in Europe. An immense 18 million gambling accounts currently exist in the UK’s online gambling community and dozens of online betting companies are currently within operation. In fact, within a period of just four years the amount of slots skyrocketed by 328%! Us Brits seem to love our gambling.
It also helps that we don’t restrict our players from interacting with others in other countries. In online poker, for instance, many countries within the EU alone tend to fence off any international participation. This is probably due to legal reasons but the UK seems to be the leader in this area.
So What’s Next?
As mentioned, since the industry has grown a lot in the past decade or so, it can only get bigger. Due to the current availability for all players, the proposed EU regulations on remote gambling look as though they may become moot. Will other countries compete with the UK or will we continue to hold our position as the EU’s market leader? Only time will tell.