Online betting has now officially overshadowed all the other forms of betting in the UK market. It has been consecutively the second largest sector in the in the UK market; Reports Vegas Mobile Casino.
Reports convey that the online gaming is responsible for 33% of the whole gambling industry and the corresponding operators earning a whopping £4.5 billion from April 2015 to March 2016 in Britain alone.
On taking account of the whole gambling industry £13.6 billion in that one year, land based casinos accounted for 1 billion and retail betting accounted for 3.3 billion.
The new tax rules also stated that 15% amount of the operator’s GGY (Gross Gambling Yield) should be paid to the government. This move boosted gaming’s GGY, which was £1.1 billion in April 2013-March 2014 to the last one year of the reviewed period.
Before November 1, 2014, the online betting operators did not require to have a license to conduct games but the new rule which was brought in the end of Nov 2014 made clear that the operators who need to operate in UK region must have a license and should pay the tax to the country. Also, the online remote gaming sector made 32% of the whole market from 2015 October to 2016 September.
UKGC (United Kingdom Gambling Commission) is responsible for regulating and administering the gaming laws in Britain and their main aim is to keep crime out of gambling world. The director of UKGC James Green stated that “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”.
When coming to land-based gambling, fixed-odds betting machines also called as B2 gambling machines were responsible for the large contribution to the country’s gambling industry with GGY of £1.8 billion from October 2015 to September 2016. The number of machines in the betting shops was around 34,388 in this one year along with a total of 8,788 betting shops in the UK by the decline of March 2017
FOBT (Fixed-Odds Betting Terminals) is coming up in the media and industry reports often over the recent years, more mentions were in the last year. The UK Government has gambling review once in three years and this is believed to bring many alterations in the regulations.
Also, anti-gambling masses had made a plea to reduce the maximum FOBT value from £100 to just £2 and it is yet controversial whether these requested will be fulfilled or not.
GGY of 1.6 billion has been made by the sports industry in a year to September 2016 while casinos generated around £1.2 billion. Bingo made a sum of 682.3 million during this timeline.
With the change in the dynamics in the platform of the online gaming as in mobile, VR and so on in a rapid manner, the reports are also believed to change extensively. The laws and regulations in the gambling industry are also subjected to change as per the requirements which are needed to have a healthy gambling.
