UK is No 2 in Online Gambling in 2024
The UK is now the second biggest country in the world, when it comes to online gambling revenue at least.
Intelligence and stats portal Statista predicts that the online gaming industry will generate £11.01 billion in 2024. Perhaps inevitably, considering its size and buying power, the United States of America still tops the charts, but its £18.4 billion predicted revenue really isn’t the crushing win you’d expect.
The UK population is 67 million, while the USA has 334 million people on its shores. But then online casinos are banned in all but a handful of US States, including New Jersey, Pennsylvania, Michigan, Connecticut, Delaware, and West Virginia. So only a fraction of the US population can actually access online casinos, which explains the relatively slim margin of victory.
According to the study, 27.9% of UK consumers revealed that they had gambled online, and the UK should see a 7.4% increase in gambling revenues this year. From 2024 to 2028, the UK is likely to see gambling revenues inch up 3.84% per year.
As online gambling finds a legal foothold in the US, the American market is set to increase roughly 20.3% this year and take an even stronger position in the global market. Third place Australia is also expected to close the gap on Britain, surging 10.5% in 2024 and then growing by 5.12% annually until 2028.
Japan was fourth in the table, with a predicted revenue of £4.95 billion in 2024.
Considering the relative size of its population, it’s clear to see that the United Kingdom is one of the leaders in the online casino world.
The UK Gambling Commission has embraced change with clear legislation and one of the most prestigious licencing systems in the world. As the country was one of the first to provide clear guidelines, major casinos like Bet365, 888 and William Hill set up home in the UK.
So, a combination of solid legislation and the world’s biggest operators, together with a gambling culture, have helped create a stable and profitable environment. That gave the companies the confidence to invest in a better user experience and cement the UK’s position at the head table of the online gambling world.
The study also highlighted a marked increase in online gambling during the Covid pandemic, when many Brits were locked up in their houses and the sports betting scene was largely shut down. Since the world reopened, these companies have continued to build on their success and UK players have continued to bet online.
