The gambling industry in the UK has continued to experience growth with the industry recording a year-on-year increase in income generation. The reason for this is not farfetched. Players have access to various odds and multiple winning opportunities. The fact is that there are limitless opportunities to win and have fun while at it.
Additionally, the UK gambling industry is well regulated and gamblers have various game choices to explore. These include sports games, card games, horse racing, and many casino games. Over the years, the industry has grown significantly and between 2018 and 2019, the industry has generated about £14.26 billion.
Interestingly, the largest share of this revenue is from online betting platforms, such as Ladbrokes. The online market is an emerging market and its growth is significant. Players have a plethora of options when it comes to online betting sites and it is easy for them to find the best one among the lot.
All they have to do is read reviews about the website to make an informed decision. For example, there are numerous Ladbrokes review platforms that players can check before deciding to sign up with the betting platform.
How the UK Online Gambling Market Works
The gambling industry in the UK is made up of about 24 million adults. About half of these gamblers, within the range of 10.5 million, play and wager online. According to statistics, more than 45% of UK residents engage in some form of gambling every month. Statistics also indicate that the average gambler in the UK water £2.57 each week or about £133 per year.
For many UK residents, gambling is not a daily habit. It is more of an occasional pastime that they engage in. However, the excitement and love that these gamblers invest in every bet show in the huge gross revenue that the industry has experienced. By the way, the GGY of £14.2 billion is bigger than some countries' GDP.
What Games Do UK Gamblers Bet On?
UK bettors have a wide range of game choices that they bet on. The interesting thing is that they have more betting opportunities than just the typical online casino and sport game options. Here are some games that gamblers in the country spend on:
- The National Lottery
This market pulls over 27.6% of the gambling community in the UK, making the national lottery the most wagered-on betting activity in the country.
- Sports Betting
About 6.6% of gamblers in the UK enjoy betting on sports, including tennis, hockey, and tennis, among others.
- Scratch Cards
About 11.2% of gamblers play scratch cards, which places it in the second position of the most gambled-on activity in the country.
- Other Lotteries
Apart from the national lottery, other lotteries have been established in the UK. About 10% of bettors stake on these other lotteries.
- Slot Machines
Players also wager on slot games with about 3.7% of the gambling population favoring this game pastime. Gamblers love this genre of games because of the enticing sounds and lights as well as the potential huge wins.
The UK betting industry is a lucrative market featuring both happy gamblers and happy online betting platforms. It is no doubt a mutually beneficial activity for both the punters and the betting websites.