iGaming encompasses all online activities that see punters better on the future outcome of a match, game, or other events. This includes online casinos like Casumo, online bookmakers for sports betting, as well as esports and poker games. The UK has a well-regulated gambling industry, and the market is considered one of the highest rankings in the world, but just how big is the iGaming market in the UK?
Moving Online
The UK used to have an extensive collection of land-based betting shops and casinos, but since technology allowed players to enjoy the immersive casino experience and be able to bet on sports from wherever they are at any time, these have lost popularity. In 2011 there were an estimated 9000 betting shops in the UK as this was the most prominent form of betting at the time, but by 2020, this dropped to 7000 and continues to fall year-on-year. In the nine months from April to September 2020, the revenue from the betting market was worth €63 million in the UK. The gross gambling market from April 2019 through to March 2021 racked up a whopping €2.4 billion. The industry was impacted by the pandemic and the increase in the cost of living, giving less disposable income to punters, but it indeed continues to grow.
Largest Sectors
Bookmakers and online casinos retain the largest share of the iGaming market, with punters enjoying the convenience of being able to gamble from the sofa. The scale of these companies is now so vast that as well as holding place in the UK markets, they have diversified worldwide, which means they can have a massive collection of games on offer featuring the latest technology and software to ensure that the experience for the player is as close to being on the Las Vegas strip or sat beside the track as one can possibly get. Football accounts for around 48% of all sports betting, and there is still a keen interest in horse racing, motor racing, tennis, golf, and many other sports, especially where large tournaments take place like the World Cup, for instance.
Demographics
The gambling demographic highlights that in 2020 punters wagering on various games and sports were aged between 16, which is technically below the legal gambling age in the UK and 65 and over. Those spending the most money and having the highest wages are often people aged between 45 and 54. It can also be seen that wealthy households indulge in gambling more than those who are less well-off. The second highest group of household income earners is known as the ninth decile group, and they, on average, spend €2.90 each week. 32% of UK residents gamble at least once each week, with 30.8% taking part in some form of iGaming each month. As technology continues to improve, it seems that more people take advantage of online betting activities, which could already be done from mobile, tablet, PCs and laptops wherever you happen to be provided you have a Wi-Fi or 4/5G connection.
