LONDON, June 1, 2021 /PRNewswire/ -- The world of casinos, bingo, and sports betting is alive and well in the UK, but it seems that efforts around the world to shift attitudes in online casino gaming might have reverberating effects in the UK. Just last year in November of 2020, the Gambling Commission published their latest report of industry statistics and inside this report, one can see just where things have been moving. For the most part, gambling across all settings within the UK, from arcades and betting to bingo, casinos, and lotteries has seen a steady increase in GGY (gross gambling yield). However, there was a slight drop-off from April 2019 to March 2020 – and that is to be expected with the onset of the COVID-19 pandemic.
In this short report, we are going to take a detailed look at what's new in the world of UK betting. Remember, the UK does not exist in a vacuum, and the gambling shifts taking place in the US certainly have an effect of what is going on in the UK. So, with that in mind, let's take a closer look at the numbers.
An £84.1m Decrease In Overall Gambling, But An Increase In Online Casino Gaming
Overall, the GGY of the gambling industry in the UK decreased by about £84.1m from April 2018 to March 2020. By sector, these declines were seen in non-remote betting by £859.5m, non-remote casino gaming by about £42.8m, and non-remote bingo by about £38.4m. However, during the very same periods, it looks like remote casino gaming increased by nearly 4%,m remote and non-remote National Lottery increased by about 10.4%, and remote betting increased by as much as 15.5%.
What Are People Actually Betting On?
If you actually break down the data and take a look at what people in the UK are actually betting on, things get quite interesting. For instance, let's take the sector with the largest increase throughout that two year period.
Sports Betting In The UK Is Huge With 48.4% of The Market Dominated By Football
If we take a deeper look at remote betting in the UK, it becomes pretty clear to see just what people in the UK are actually betting on in terms of sports. Football takes up a whopping 48.4% of the pie, with horses making up about 28% of it. From there, you've got tennis betting taking up 5% of the GGY, dogs taking up 3.1% of the GGY, gold taking up about 0.7% of the GGY, virtuals taking 3.2% of it, and about 9.7% of random sports that aren't clearly or distinctly accounted for.
If the COVID-19 pandemic has taught us anything, it's that sports around the world can still be played at near full-scale, albeit without the fanfare. In the US, every major sports league found a way to return to their respective playing field and courts during the pandemic. In the UK, football continued to reign supreme as the most watched sport during the pandemic, with horse racing not too far behind.
And for betters and gamblers alike, making a remote bet wasn't exactly a difficult thing to accomplish. In fact, it was easier than going to the pitch to watch the match, or going to the track to view the race. Having the ability to strategically place bets from afar represented a newfound interest in sports betting – almost going so far as to claim it as a strategic advantage.
What's Happening In The US?
Across the ocean in the US, things in the betting world seem to be picking up steam. Digital casinos and other remote forms of gambling and sports betting used to be considered taboo by those in the gambling sphere, but now, they're beginning to set the stage for a shift in attitude amongst betters worldwide.
Again, the COVID-19 pandemic likely played a role in this, but one cannot discount the impact that mobile technology has had on the world of sports betting. Because mobile technology offers instant access, instant moves, instant wagers, and so much more, there is an influx of new sports betters to the market who are ready to place wagers down to the player and minute of a game – all from the comfort of their own home with their mobile device in hand.
Online Gambling Expected To Grow By More Than $80m By 2024
Currently, the digital casino and gambling markets are projected to grow by more than $80 billion dollars over the next three years – this would be a four year period from 2020 to 2024. One of the biggest benefits that online gaming has brought to interested betters worldwide is the new Live Dealer feature. If you're interested in casino gambling, then you know that playing with a Live Dealer in a Las Vegas casino is a one of a kind experience.
For that very reason, online casinos have caught onto this, and they've incorporated this feature into their online casino games. Demand for Live Dealer games and online casinos has never been higher.
In terms of sports betting, DraftKings Inc. has broken out on to the scene as a major sports betting application that users can download on their mobile device, place wagers during games, and take advantage of exciting promotions that double their chances of winning. DraftKings has certainly opened up a doorway for a brand new market of sports betters because of its ease of use and ultimate convenience. Those who have never placed a wager on a game or match before might be more privy to do so now that they can do it from their mobile device while they watch the game at home.
It's an exciting time for the world of gambling and betting, and things around the world are certainly beginning to make waves. It'll be interesting to see if the Live Dealer feature and sports betting giant, DraftKings, make their way over to the UK. Time will tell just how adaptable this new attitude shift will be.