How UK’s online casino industry thrives through 2020 when the ongoing pandemic has affected the industry significantly.
Online Gambling has always been a big part in our society. Now in 2020 the ongoing pandemic has affected the industry significantly, making it ever more popular as a pastime for current and new players. Deprived of brick-and-mortar options active gamblers turned to online casinos as a convenient and effective alternative. Experts from topratedcasinosites.co.uk have been monitoring the fluctuations of the market to bring readers the most accurate information on UK’s online casino providers.
Ever since online gambling was a thing in the UK, its influence and popularity was growing each year. If we look at charts and statistics, there was a significant rise in the number of growing online casino offers, players and special online events centered around gambling. Google’s ‘Trends’ feature shows that searches for ‘online casino’ increased by more than 400% in May 2020.
This year alone the numbers show that the global gambling market registered a rise in net worth of US$ 7.8 billion. In the UK remote casinos account for £3.2 billion in gross gambling yield per year – accounting for around 30% of the total gross gambling yield of the industry as a whole when lottery profits are not included.
Research conducted among UK gamblers by the UK Gambling Commission shows 31% of players trying one or more gambling activities for the first time during the lockdown. The number raises to almost half (48%) of engaged gamblers. The latter group are also most likely to try online bingo (13%), betting on virtual races or sports (12%), National Lottery online instant wins (11%) and online slots (11%).
With many sporting events still unable to proceed normally in times of social distancing there has also been a shift among sports bettors towards online casinos. One thing that we’ve seen from the sports betting industry in particular is the swift adoption of new tech to mitigate the effects of the pandemic. The rise in virtual sports betting and Esports betting hasn’t gone by unnoticed. This is something that online casinos are also great at. Innovation drives the industry and tech such as VR, blockchain and AI will be a driving force in the next coming years.
For now, one could say, that that these numbers could go down again once Corona goes away. Experts on the other hand believe that, because this opened up the market to many players new to the industry, there would be a significant retention and even increase in the coming years. This pivot to online gambling shows no signs of stopping and predictions are that as a result the overall worth of the global gambling market will reach US$ 127.3 billion in 2027.
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