Industry Statistics that were released this past week have shown that the revenues generated from remote gambling in the United Kingdom have risen to 1 billion pounds. This is an increase of around 100 million, with 2013 figures closer to 930 million pounds. The increase is at the 16% mark, with experts predicting that similar increases should be expected over the next four to five years. Much of this growth is due to the establishment of gambling machines, the expansion of many casinos to north England, and the increased popularity of smartphone and tablet online casinos.
Remote Gambling Increases –
When the 2013 statistics were calculated, the percentage of total gambling revenue that came from remote gambling was put at 14%. The 2014 figures show that remote gambling is now responsible for 16% of the total gambling revenue. This further highlights the fact that online gambling is a booming industry, with companies expecting significant gains in new customers over the next 12-36 months.
High Street Gambling –
In terms of physical gambling locations, high street betting shops are a huge part of the industry’s recent success. Out of the 6.7 billion pounds made by the UK’s gambling industry, 3.2 billion (or 48%) of the money came from high street betting shops. These shops are most famous for taking sports bets, pool betting, and more recently for fixed odds betting terminals.
Sports’ betting is the most popular form of betting in the United Kingdom, with around 900 million pounds of revenue coming from bets on football, cricket, rugby, and others. In comparison, pool betting brought in 100 million and casino takes were responsible for 30 million pounds. There were across the board gains for every type of bet, except for bingo betting, where only 2 million pounds (2.5 million last year) were earned.
Impact of New Laws –
The British parliament has recently approved new laws regulating high street betting shops, with significant restrictions aimed at fixed odds betting terminals. These restrictions are aimed at reducing the maximum a customer can bet on a FOBT, along with decreasing the number of bets that are placed per hour. The gambling industry will anxiously await the economic impact of this legislation. Logic dictates that they will bring about a decline in the revenue gained from high street gambling shops.
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