The United Kingdom has always been known for being home to those who love to do online games. For those that like to keep up with the latest business opportunities and trends, the value of the UK gaming market is something that many investors will pay close attention to.
Even though there has been a drastic increase in gaming addiction in the UK, the industry continues to grow and generate huge amounts of revenue. Based on the latest data by Casino Gambler, the UK has a total gross revenue of £6.9 billion, making it the largest online market in the world.
As little as 20 years ago, sports betting sites and online casinos were virtually non-existent. Today, they earn millions of dollars in revenue for operators each and every year. The gambling industry has gone through many stages of growth over the years and continues to grow rapidly.
With more people looking for the convenience of being able to play online games from home, online gaming sites have become some of the most accessed sites online. The online casinos that are operating provide UK players with secure access to hundreds of games. These can all generate real money payouts, offering a simple way to place bets without ever having to travel to a land casino.
Slots Account for Major Revenue
There is no way to deny that online gambling is a leading pastime in the UK. With some of the best casino sites operating and providing easy access, gamblers have instant access to leading games and betting options. The majority of titles featured at UK-licensed websites are slot machines and these games generate massive profits for operators. The UK Gambling Commission stated that slots account for more than £2.9 billion in revenue.
There are currently over 15,000 slot games that are available in the market and this continues to grow as developers release new and innovative titles. Many casino sites use multiple providers to deliver a huge portfolio of slots. 888 Casino is one of the leading UK sites and here, players can enjoy nearly 1,000 slot titles. Those that are looking for even more titles will find sites like Mr Vegas, featuring 3,121 slots!
Seeing as there are so many titles, it is easy to understand why slots contribute to the amount of revenue generated. These games have a 72.5% share of the gross gambling yield. This is followed by roulette at 13.2% and then blackjack at 4.9%.
As new websites emerge and new games are created, the industry in the UK prospers. Leading sites attract thousands of gamblers who place hundreds of bets on supported slot machines as well as other online casino games. Today, the UK has taken the lead for having the highest-grossing online gambling market worldwide, surpassing the United States, which has 5x the population!
Experts predict the market will grow by 8% in the coming year, estimating a value of USD 42.2 billion by the end of 2023.