Online casinos taking the UK by storm

Even though online casinos have been around for years, their popularity seems to have almost skyrocketed overnight. While the world was a far more restricted place in 2020, that period also sparked a spike in online casino popularity, today people still seem to prefer this type of gambling even though physical casinos have long since reopened for business.

UK casinos in general have been showing a steady increase in popularity and revenue. There are several factors contributing to this increase in popularity. A major one is that online casinos are not location-bound and are accessible from anywhere.

In addition, online casino goers have the added benefit of not having to wait for a machine to open up. Online casinos also offer a far wider game selection with thousands of new ones being developed every day. Even where restrictions like the Gamstop scheme are in effect, many players prefer the less restrictive experiences of offshore casinos not on GamStop.

Online casinos UK: additional benefits

These factors are not the only benefits of online gambling in the UK. Another major advantage is that in the UK, winnings are not taxable, meaning betting culture now applies to just about anything. Whether you are betting on horses, casino slot games or live poker tables, the winnings you make are yours to keep without any legislative pressure to declare them.

These tax liberties have given rise to another type of online gambling. This rising phenomenon is sometimes known as crypto gambling and is distinguished by the fact that digital currencies like Bitcoin and Ethereum can be used to place wagers. Before making the switch to these types of casinos, experts recommend first having a deep understanding of how crypto and its volatility work.

In addition, it is also recommended to always pay attention to the licensing and fair-play policies a chosen platform adheres to. Users should ensure the casino of their choice is licenced and registered with a reputable organisation like The UK Gambling Commission (UKGC).

The world’s largest market

The UK online gambling industry boasts the largest market in the world, with revenues exceeding £9 billion. Far from a time when live sports and entertainment festivals ruled British culture, online gambling and sports betting now seem to be king in the UK. The fact that the industry is heavily regulated and still manages this moniker is a testament to just how much Brits love this form of gambling.

With future revenues projected to keep rising, many detractors of the UK’s gambling regulatory regime feel that the region is potentially losing out on billions. As many players prefer offshore platforms to avoid some of the restrictive laws in place. Despite this, the number of UK players is expected to keep rising. By 2029, projections show that the number of active players will reach around 12.4 million.

If estimates prove true, the next couple of years should show a steady rise in revenue for the online gambling sector regardless of how it’s currently regulated. When taking all of this into consideration, it’s clear that crucial regulations must be balanced against the economic potential for added tax revenue so the UK can fully benefit from its inhabitants’ love of online gambling.

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