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The growth of the UK gambling market

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UK Casino Revenue Report Released by LeanBackPlayer
Photo credit: gamblingcity.net
Reading Time: 3 minutes

 

Gambling has been an important part of UK culture for hundreds of years and it remains a popular pastime in the UK. However, today’s gambling industry is certainly not the one your father or grandfather knew.

Instead, the gambling industry in the UK has become extremely innovative, competitive and fragmented over the course of the last decade. Keep reading to learn more about how the UK gambling market is performing — and where it is headed next.

 

The growth of online gambling

Over the course of the last 10 years, one of the areas of the industry which has seen the most growth has been the online betting and gambling market. Overall, gambling has seen something of slight decline in popularity as, according to market reports, the gross gambling yield (GGY) of the UK gambling and betting industry in the UK decreased by roughly £84.1m between April 2018 and March 2020.

However, this decline was mostly limited to brick-and-mortar casinos as during the same period, remote or online gambling actually increased exponentially. From April 2018 until March 2020, remote casino gambling — or online gambling — increased by roughly 4% and remote betting increased by roughly 15.5%. These are hugely significant leaps in popularity and the market actually shows no signs of slowing down for online gambling and betting.

There are now hundreds of different online casinos and gambling platforms for users to choose from, all of which are competing for the attention of UK consumers. In order to stand out in a highly competitive online marketplace, online casinos such as Rizk Casino UK offer gamblers extensive games libraries, competitive registration bonuses and state-of-the-art digital platform technology.

 

Sports betting dominating the market

It is worth taking a deeper look into the UK gambling and betting industry to better understand the market forces and where the online gambling industry is headed. Sports betting is actually one of the biggest categories of online gambling and it is growing at an exponential rate year on year.

Sports betting on football is particularly popular, dominating roughly 48.4% of the sports betting marketshare. Following football, horse racing and steeplechase events make up about 28% of the sports bets placed in the UK. However, concerns about animal welfare and cruelty linked to both horse- and dog-related events has led many people in the UK to rethink whether or not they want to continue engaging with sports that rely on and profit from animal exploitation and cruelty.

After horses comes a bit of a surprise as tennis makes up 5% of the GGY, dog-related events and races make up 3.1% of the GGY, and golf provides another 0.7% towards the GGY. A further 9.7% of the GGY is contributed by an amalgamation of different sports.

Interestingly, the last 18 months has led to a new sport rising in popularity — virtual sports and events. Many people who never before would have watched or engaged with esports have suddenly found themselves rooting for particular teams or placing bets on a favourite player. The esports industry is still in its infancy, but it is a promising industry that is set to grow exponentially over the coming decade.

 

Looking across the Atlantic and to the future

A quiet revolution is happening in the United States and many UK gambling companies are taking note. The United States has had an extremely fragmented, conservative approach to online gambling and gambling in brick-and-mortar casinos for decades. Now for the first time ever, legislation is being introduced in many states across America which would liberalise regulations of online and in-person gambling.

In recent times, local, state and federal governments in America and many municipalities have found themselves strained and are now looking for ways to make up for their budgetary shortfalls. However, the introduction of better, more reliable mobile technology and infrastructure has also played a role in the increasing acceptance of online gambling and sports betting.

The United States now presents a massive opportunity to UK gambling companies which already have well-developed online platforms. The industry is about to receive a huge influx of Americans looking for safe, reliable platforms on which to make bets and gamble, and many UK companies will be looking to take on this new challenge.

Regardless of what happens in the United States however, the online gambling industry is set to continue growing in the UK and is expected to grow by more than $80m by 2024.

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Win tickets to the BLAST Premier Fall Final: GG.BET is running a MEGA BLAST Competition for fans of СS2

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From 26 July, all GG.BET users can get involved in the new MEGA BLAST Competition with a €10,000 prize fund. The winner will receive two tickets to the BLAST Premier Fall Final CS2 tournament, taking place from 27-29 September in Copenhagen. To enter, you need to place bets on Counter-Strike 2 matches.

BLAST Premier Fall is a major series of Counter-Strike 2 tournaments which draws in millions of viewers from all over the world every year. The series consists of three stages: Groups, Showdown, and Finals. The Groups stage sees 16 Tier-1 teams duke it out. Only 6 of these can go on to compete in the final, while the rest will battle it out in the Fall Showdown for two additional spots in the final. BLAST Premier Fall Finals will be the concluding stage of the Fall series, and fans can look forward to electrifying action, heart-stopping twists and turns, and an epic $425,000 prize fund.

From 26 July to 4 August, as the Groups stage rages on, GG.BET will be holding its MEGA BLAST Competition. The winner will get their hands on two tickets to attend every day of the BLAST Premier Fall Finals. As well as these tickets, the bookmaker is also giving away a whopping €10,000 prize fund to the top 40 participants in the MEGA BLAST Competition.

How to take part in the MEGA BLAST Competition:

  1. Register an account with GG.BET or log in to an existing account.
  2. Go to the tournament page and press “Participate”.
  3. Place bets on Counter-Strike 2 matches. Every bet you place will earn you a certain number of points, based on the odds.
  4. Rack up points, keep an eye on the leaderboard, and wait for your winnings to roll in.

Bet on your favorites and get ready for some unforgettable fun! Head over to GG.BET right now so you don’t miss your chance to enjoy a festival of Counter-Strike action in Copenhagen.

 

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MANCHESTER CITY TO MARK GLOBAL PARTNERSHIP WITH SUPER GROUP-OWNED BETWAY AT THE NEW YORK STOCK EXCHANGE

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Reading Time: 2 minutes

 

Manchester City has today announced a new multi-year partnership with leading global online betting and gaming brand, Betway.

As part of the club’s pre-season tour of the United States, and to mark this significant deal, leading figures from Manchester City and Super Group will be on-site for the iconic NYSE bell-ringing ceremony later today. Ferran Soriano, CEO of City Football Group, along with Neal Menashe, Super Group CEO, will ring The Opening Bell at 9:30am EDT.

The agreement will see Betway become the club’s Official Global Betting Partner from the start of the 2024/25 season, as Manchester City joins the brand’s extensive sports sponsorship portfolio which includes teams from across the Premier League, La Liga, NBA and more.

Ferran Soriano, City Football Group CEO, said: “We are pleased to announce Betway as our Official Global Betting Partner today. As a globally recognised brand, Betway has a strong pedigree and history of working with high-profile brands within the sports space and we’re excited to work together throughout the partnership.”

Super Group CEO, Neal Menashe, commented: “We are absolutely delighted to become Manchester City’s Official Global Betting Partner. This agreement cements our place in the top tier of Premier League partners, ensuring that our Betway brand reaches fans in all corners of the globe.”

Throughout the duration of the partnership, Manchester City and Betway will collaborate on a number of activations and exclusive content opportunities, in addition to the brand featuring across digital and in-stadia assets.

Manchester City and Betway will also work together to provide all players, coaches, management and staff in-depth, industry leading training on all relevant codes of conduct relating to betting integrity and responsible gambling. This is in addition to the work Manchester City already does to support players and staff in this area.

The Opening Bell ceremony can be viewed live.

 

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Compliance Updates

Acquiring a Curacao Online Gaming License in 2024: Comprehensive Analysis of Financial & Procedural Aspects with Costs & Timelines Detailed

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Reading Time: 2 minutes

The “Acquiring a Curacao Online Gaming License, 2024: Comprehensive Analysis of Financial & Procedural Aspects with Costs & Timelines Detailed” report has been added to ResearchAndMarkets.com’s offering.

This report includes valuable insights into the financial and procedural aspects, including detailed information on costs and timelines associated with acquiring a Curacao license.

In 2023, Curacao introduced the “Landsverordening op de kansspelen” (Ordinance on Games of Chance) to modernize and regulate gambling legislation. Since March 2020, the Gambling Control Board (GCB) has been authorized to regulate offshore gambling games and oversee the issuance of Curacao licenses. As of 2023, there are 16 companies providing legal services for registration and licensing in the territory of Curacao. The license fee, as per GCB regulations, is 36,000 ANG or 19,800 USD, payable upon license issuance.

Research Timeline and Data Relevance

The research was conducted in two stages. The first stage, studying the regulator and Open Data Search, took place in December 2023. The second stage, writing the report and partially updating the data from the first stage, took place from the end of April to the end of May 2024.

Goals and Objectives

  • Describe the information about the Curacao license and the issuing regulator.
  • Describe the requirements and conditions for obtaining a Curacao license.
  • Describe the costs and timelines for obtaining a Curacao license.
  • Briefly study the market, find and suggest the following lists:
    • Legal companies offering services for company registration and obtaining a Curacao license;
    • Communication agents and integrators working with the Curacao license;
    • Suppliers and vendors working with the Curacao license;
    • Payment systems working with the Curacao license.

Key Topics Covered:

1. Goals and Objectives

2. Research Timeline and Data Relevance

  • Document Markup
  • Raw and Combined Data
  • Terms & Glossary

3. General Information

  • The Regulator
    • Registration of Operators With Sublicense
    • Application for an Online Gaming License

4. Requirements and Conditions for Obtaining a License

License Conditions

  • General Prohibitions
  • Safe and Secure Environment
  • Equipment and Application Software
  • Player Registration
  • Payment Transactions
  • Games
  • Terms of Use
  • Resolution of Complaints
  • Administrative Responsibilities
  • Publicly Available Information
  • Reports
  • Policies and Procedures
  • Suspension and Revocation of License
  • Additional Conditions
  • Supervision

Recommendations or Minimum Requirements for the Business Plan

5. The Cost of the License

6. Decision Term and the Validity of the License

7. Application Method and Forms

8. Contact Information

9. Companies for Registration and Licensing

10. Integration Companies

11. Suppliers and Vendors

12. Payment Systems

13. META

14. Appendix: Terms & Glossary

For more information about this report visit researchandmarkets.com/r/izeo6g

 

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