The gambling industry is a very big sector, not only for profits but also for employment. Here are a few interesting developments about our Gambling Industry, both the physical and the online sectors.
As per industry statistics report for 2016 by the Gambling Commission, the study shows that Online Gambling consists of 33% of total gambling revenues. This amounts to a total of four and a half billion pounds (4.5 Billion). Comparing it to other sectors, the National Lottery made 3.4 Billion, the high street betting sector generated 3.3 billion and the conventional casinos at 1 billion.
As per 888 Casino, the revenue for online slots grew from eighty-six million pounds in 2010 (86.1 million) to three hundred and sixty-six million pounds (366.1 million). In the Gambling Commission report, online slot machine games made 1.8 billion pounds, out of the 2.6 billion pounds made by the online casino games.
Growth of the user base and players
Another report as shown by 888 casino referencing a different report by the Gambling Commission shows that Physical Live casinos grew around 4% each year adding a total of three million seven hundred thousand players (3.7 million) from 2009 to 2014 (17.10 million to 20.82 million players). On the other hand, online casinos gained more than fifteen percent (specifically 15.9%) from 2008 to 2014.
Factors that fueled growth of revenue and market
There are a lot of factors that contributed to this almost sudden spurt of new players. With those players comes bigger revenues. One critical turning point was when new gambling laws made casino membership obsolete, it is no longer needed to be a member to enter a casino. This was introduced in 2007. Around 2012 to 2013 , laws regarding gambling were relaxed, giving a further market reach for online and traditional casinos.
The gambling sector is being seen as a sunshine industry; it is good to ride the rising tide and enjoy the benefits that it brings.