Gambling has been a part of the history of the UK for thousands of years. The state lottery organised under the reign of Queen Elizabeth I, is one of the earliest examples of regulated gambling.
Today, the gambling market in the UK is the biggest in Europe, with a staggering 18.7bn USD revenue in 2023. Also, the UK gambling market is the second largest in the world today, according to a study by Statista.
According to another report, the market is estimated to witness a growth at 5.36% CAGR from 2023 to 2028.
One of the biggest factors shaping the growth of this market is the rising popularity of online gambling platforms. These platforms offer convenience and ease of access, along with security and enhanced user experience.
The online gambling platforms can be accessed anytime and anywhere today and this adds to their user base. The access to high-speed Internet results in a seamless user experience, which works in favour of these platforms.
What furthers adds to the growing popularity is the introduction of technology such as AR and VR. The advanced immersive technology allows users to experience gambling like never before, right from the comfort of their homes!
The use of Blockchain technology eliminates the risk associated with transactions, thus making online forms highly secure and reliable.
Today we also have the Premier League season and other major sports events that contribute towards the growth of this market.
Online Gambling Market in the UK
The online gambling market in the UK is estimated to reach 16.46 bn USD by 2029. If we look closely, the market consists of the following the 2 major segments:
- Sports betting
- Online Casinos
Betting is a segment that refers to wagering on sports events and sometimes, other events. All major sports, including rugby, soccer, tennis and cricket, contribute significantly to the revenue of the betting segment.
Today, online platforms and mobile apps are increasingly attracting people to actively participate in online betting.
All the major global Sporting events, including Wimbledon and FIFA WC, are the biggest source of revenue for this segment.
With the abolition of the consumer betting tax in the UK since 2001, players can keep the entire winning amount. This has been an immense draw for people betting in the UK.
Online casinos
The next segment of the online gambling market in the UK consists of online casinos. The use of advanced technology has revolutionized the way people play Casino games.
Augmented Reality (AR) and Virtual Reality (VR) are changing the experience. Now it’s possible to enjoy the experience of a real casino, without even the need to visit one.
Online casinos offer slots, roulette, blackjack and many games and their multiple variations. In fact, the innumerable variations of the popular games, remains one of the biggest draws for online casinos.
The online casino market is immensely competitive! These casinos offer attractive bonuses and jackpots to grab the attention of users.
Many online casinos also offer free games and welcome bonuses to encourage people to play. For example, you can explore the free slot games lists at casinos.com, a popular online casino affiliate platform.
The data from YouGov’s Global Gambling, shows that slots are the most popular casino game in the UK. 30% of online gamblers play slots online, followed by 18% who play Bingo.
Gambling Market in the UK: Key Statistics
Here are a handful of statistics to help us get a deeper understanding of the online gambling market in the UK.
- The average gambling enthusiast in the UK spends around £200 every month.
- Around 70% of UK adults regularly participate in the lottery to win big.
- The United States, the UK and Australia are the 3 leading countries in terms of gambling market revenue.
- The Online Gambling Market in the UK is all set to witness 23.9 Million users by 2029.
- The AR/VR market or the market for immersive technology is witnessing an annual growth rate of 9.27%.
- The average revenue per user (ARPU) in the UK gambling market is 0.63k USD in 2024.
- Around 26% of young Brits spend their own money on online gambling platforms.
- Over 70% of people in the UK indulge in online gambling because they see it as a fun activity.
- The Online Sports Betting market in the UK is all set to witness 15.3m users by 2029.
- The revenue of the Online Sports Betting Market is estimated to reach 4.56bn USD in 2024.
The future of the online gambling market looks promising with experts estimating a staggering growth. The introduction of AI will redefine this domain and pave the way for a new level of user experience.
In addition to that, innovations will ensure the users always have something new to explore.
