iGaming Officially The UK’s Largest Gambling Sector

The UK Gambling Commission (UKGC) released updated data on the UK gambling market towards the end of 2016, which highlighted the fact that a third of total gambling dollars in the country come over the internet, making online gambling the largest gambling sector in the UK.The UKGC’s report stated that from the period April 2015 to March 2016, online gambling generated 33% of the entire gambling market (including land-based casinos and betting shops), at £4.5 billion. 

Huge growth

Gamblers in the UK now lose around £13.6 billion every year in the UK, up by over 20% since 2014.Comparatively, the growth in the US has been much slower than ion the UK, the entire casino gambling market in the US, which includes commercial and tribal markets, is worth around £70 billion annually.In the same period the year before the recent data (April 2014 – March 2015) online casinos represented 29% of the overall market, according to data. It was also noted by the commission that the number of brick and mortar betting shops decreased by 2% during the same period, and no new land-based casinos opened during the timeframe.

Table games still lead the way

Slot games may be soaring in popularity at online casinos, but it is still table games that generate the most revenue, sports betting stands in third place due to regulations and crack downs on illegal betting on games, be they real life or video games.Money raised by online gambling in the UK breaks down as follows:Table Games: £2.6 billionSlots: £1.8 billionSports Betting: £1.6 billionBingo: £153 millionBetting Exchanges: £152 millionUKGC Program Director, James Green, said:“Our latest statistics show that with the growth in online gambling the industry is increasingly taking a creative approach to using technology to engage consumers.”

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