Value Of Uk Gambling Industry
In the United Kingdom, unlike many regions around the world, the laws relating to online gambling are relatively straightforward.
Mar 05, 2019 The global remote gambling market value is expected to exceed £93.4bn by 2026. It’s probably not in the UK that the industry will see the swiftest growth, though. Thing is, UK online casinos and other betting sites have already seen a huge growth in recent years. United Kingdom: Gambling 2020. The ICLG to: Gambling Laws and Regulations - United Kingdom covers common issues in gambling laws and regulations – including relevant authorities and legislation, application for a licence, licence restrictions, digital media, enforcement and liability – in 39 jurisdictions. Gambling (also known as betting) is the wagering of money or something of value (referred to as 'the stakes') on an event with an uncertain outcome, with the primary intent of winning money or material goods. Gambling thus requires three elements to be present: consideration (an amount wagered), risk (chance), and a prize. Size of the online gambling market in 2017 and 2024 (in billion U.S. Dollars) The global online gambling market is anticipated to be valued at more than 94 billion U.S. Dollars in 2024. The current size of the market is almost 46 billion U.S. Dollars, meaning the size is forecast to double in the upcoming years.
Some of the legislation in place is quite complicated, but this is only an issue for those that provide gambling services in some form. For UK residents looking to gamble the laws are, for the most part, pretty easy to understand.
Most forms of gambling in the UK, including over the internet, are legal and the industry is very well regulated.
The Gambling Commission which answers to the government’s Department for Culture, Media and Sport regulates the industry (with the exception of spread betting which is regulated by the Financial Conduct Authority) under the terms of the Gambling Act of 2005.
Among other things, they ensure that operators which offer gambling services, including online, meet the necessary standards.
Casino Gambling Industry
As a result, betting and gaming is big business in the UK. There are many land-based casinos and poker rooms throughout the region, and hundreds of retail betting shops. There are also a number of UK based gambling sites and many more foreign-based sites that legally provide their services to UK residents.
On this page, we look at how the relevant laws affect you when it comes to gambling online, and we explain more about the Gambling Commission and the Gambling Act of 2005. We also provide updates, when necessary, on any changes in the laws and regulations.
Share this article
Gambling Industry News
Companies in this article
The video games industry is on course to generate just shy of $135 billion in 2018.
That's according to research by market analysts Newzoo and shared with GamesIndustry.biz for the 2018 edition of our Year In Numbers infographic.
Uk Gambling Law
The $134.9 billion market value marks a 10.9% increase over 2017.
In no-limit games, a player may also open the betting by going all in, that is, betting his entire stack.A player who goes 'all-in' effectively caps the main pot; the player is not entitled to win any amount over his/her total stake. Poker main pot side pot. If only one other player is still in the hand, the other player simply matches the all-in (retracting any overage if necessary) and the hand is dealt to completion.
As expected, mobile accounts for the bulk of the industry's revenue -- 47% of it, in fact, at $63.2 billion (up 12.8% year-on-year). Smartphones led the way here with revenues of $50 billion (up 14.2%), while tablets accounted for $11.4bn (up 7.8%).
Interestingly, tablet games account for 10% of the overall market, meaning $1 out of every $10 spent on games is on tablets.
Of the three major sectors -- mobile, PC and console -- it was the latter that saw the biggest growth, with revenues increasing by 15.2% year-on-year to $38.3 billion.
PC meanwhile accounts for 25% of the global games market -- $1 for every $4 spent on video games -- encompassing boxed, download and browser games. Revenues were reported as $33.4 billion, up 3.2% year-on-year.
You can see a more detailed breakdown -- plus insight into boxed versus digital revenues, and more besides -- in our 2018 Year In Numbers infographic.