According to statistics by the Statista, the gross gambling yield (GGY) in the UK increased by roughly 6 billion British Pounds within seven years; between 2011 and 2018, the GGY shoot from 8.4 to 14.4 billion British pounds. This GGY is a clear indication that the gambling industry is growing in the UK.
But you could ask, why are other countries not making such high impacts in their regional gambling industry? Or what is the United Kingdom doing that is giving this industry such significant progress? Well, here are some of the contributing factors that have made the gambling industry in the UK grow effectively.
Reasons for the Gambling Industry Growth in the UK
1. The Change of Legislation of Remote Gambling
The change of the laws that governed remote gambling changed in 2014 and recognized gross gambling yield for all remote gambling accounts as one the largest share in the market. It is after the change of this legislation that the gambling industry escalated and employed more employees.
2. The increased number of employees
According to the statistics, in 2018, the gambling industry employed over 100 thousand employees across the United Kingdom. Most of these employees worked with the betting sector, casinos, and bingo.
Gambling enterprises require only a few numbers of employees. The betting sector alone had 53,029 employees as of July 2019. The productivity of each employee in this field eventually led to the enormous growth of the gambling industry.
3. The high number of active gamblers
Although the age bracket for participating in gambling is a bit in the upper, there was a high number of active players. Although, the number of youths participating in gambling is low, there is a considerable number of gambling customer accounts.
Surprising, most of the people that participate in gambling are in the age bracket of around 45 and 64 years. Statistics show that in 2018 alone, there were 36.6 million online gambling customer accounts, which were licensed by the famous Gambling Commission in Great Britain. Of the 36.6 online accounts, there were 33.6 million active accounts.
This number is an excellent indication that active customer accounts highly contribute to the yields in this industry.
4. Increase in trust and fairness
When it comes to gambling, if there is no fairness, participants tend to coward and fail to participate. However, one of the great things that the betting industry in the United Kingdom has done is to ensure that it is transparent and fairness which has lead to many people developing trust in the industry.
Problem gambling has brought an increase in the new self-exclusion as the market continues to grow, read more at: Gamblingcommission.gov.uk . Underage gambling has also significantly reduced over the years. It is worth noting that fairness and trust have been minimal, but in the UK, they have tried to maintain their standards.
The basis for choosing an operator in the UK and, consequently, the reason why there are regular online gamblers in Great Britain/UK has a reliable and secure website.
5. Increased number of betting premises
There are over 8,406 betting premises in Great Britain, which have given the region a foot in the gambling industry. If an area has a low number of betting premises, the gross yield will decrease. The Gambling Commission in Great Britain has ensured that it gives licenses to as many betting premises as possible. This permit-giving is an excellent move towards a better outcome.
6. Increased amount of gaming machines
After the commission gives licenses to the operators, one way they ensure that they maintain an excellent gross yield is by having many gaming machines. According to the statistics, the average amount of gaming machines in Great Britain in 2018 was 181,309. The number of people who gamble every week is around 32%, which results in better gross yields.
Many gamblers who are between 25 to 34 years old in the UK tend to follow the gambling sites in the social networks accounts. Statistics have shown over 43% of online gamblers follow and do their gambling using social networks.
The gross gambling yields in Great Britain will continue to increase if all conditions remain constant and favorable as they have been in the past six years. There are indicators that the gross gambling yields from arcades, betting, bingo, casinos, remote, and machines will increase significantly. All we can do is watch and see what will happen in the gambling industry in the UK in the next half-decade.