The global online sports betting sphere is exploding. In 2019, it overtook the Internet casino section and has now put an ever-growing gap between these two sector segments that is unlikely to close, at least for the foreseeable future. Of course, this staggering revenue jump most significantly gets owed to the US Supreme Court, which in 2018 decided to permit US states to pass laws regulating retail and digital betting as they see fit. That has made this country’s betting landscape the second largest, next to the UK one, substantially boosting global revenues.
The worldwide sports wagering market, according to Grand View Research, pulled in $83.65 billion in 2022, with the UK’s online wagering section allegedly contributing $7.8 billion to this figure, with the IMARC Group expecting this number to be $11.0 billion by 2028, showing an annual compound expansion rate of 5.4% during the next five years. Hence, Britain not only has a developed sports betting division, but it has one that continuously swells year-on-year, with sportsbook operators making money hand over fist. Going by the latest stats, around 6,219 betting shops were active in Britain, and 890 brands offered sports wagering services over the Web (per the UKGC’s official website).
Below, we shall supply a short analysis regarding what drives this UK sector, its chief market players, and what these sites do to make themselves appealing to punters.
Why Is the UK Online Betting Landscape Increasing?
Internet gambling became a thing in the UK in 2005, and at that time, the law that is still in place primarily got drafted for brick-and-mortar kiosks, not virtual bookies. Since the mid-2000s, smartphones have become an essential part of everyday life, leading to Britain, one of the rare countries in the 2010s with a highly regulated betting landscape to post swelling online gambling numbers. In 2019, half of online bettors in the United Kingdom utilized smartphones to enjoy this entertainment form, leading the online section of the UK gambling industry to soar to the above-cited number from a gross gambling yield of only £817 million in 2009.
Furthermore, it also must be noted that affiliate marketers are a vital growth factor in online gambling, as the UKGC recently projected that they bring in up to 40% of customers to online casinos and sportsbooks. Thus, novel ways to get people to partake in this hobby are popping up and are luring gamblers to the digital wagering realm.
How Do Online Sites Entice Punters?
They usually do so via competitive odds, wide ranges of markets, and attractive promotion offers. For instance, this Fafabet review mentions that this UKCG-approved wagering hub supplies daily bonuses, lists events from lower-division UK leagues, and has robust horseracing markets. Plus, it allows the famous in-play betting option that permits gamblers to explore real-time wagering and take advantage of a cash-out function to limit losses.
Top UK Online Gambling Operators
The list of famed UK bookmakers is not short. It includes names like William Hill, Bet365, 888 Holdings, BetVictor, Paddy Power, Ladbrokes, Betfair, Entain, LeoVegas, 32Red, and many more.
It must get pointed out that these are distinct brands. Yet, they often get owned by the same business entity. For example, Entain plc, formerly GVC Holdings, is a juggernaut of a gambling company headquartered in Gibraltar, pulling in yearly revenues of £4.2 billion and boasting an operating income of £541.8 million. It is likely the main UK giant in the betting industry, running several well-established brands under its umbrella, such as Betboo, BetMGM, bwin, Neds, Sportingbet, Gamebookers, and Ladbrokes.
Bet365 is also a formidable entity, generating annual revenues of close to three billion pounds, and 888 Holdings is another impressive company that now owns the William Hill and Mr. Green platforms.
