Seed NewsvineNot that it's a big surprise or anything, but the UK facing online gambling market in 2010 is expected to grow in revenue by more than twice as much than what is currently coming through the virtual doors of online casinos, poker rooms, skill gaming, snooker, racebooks, sportsbooks - in other words, the totality of all online betting activities. Recently published by OSK Research, these statistics were originally gathered and reported earlier this year by Screen Digest, whose analysis currently values the UK facing online gambling industry at GBP 600 million.
For anybody who thinks that this is indicative of a gambling problem caused by the online sector, hold on just a second. With a market size of over GBP 700 million and less than 2% penetration into the UK adult population, online gambling revenues only account for less than 7% of the total UK gross gambling yield primarily contributed to by land-based casinos and betting parlors.
Considering the revenue statistics in prior years over the last decade, online gambling is nonetheless growing at a fast rate. Just a few years ago in 2005, there were 32 different industry consolidations worth GBP 3 billion, which was up from only 9 consolidations worth GBP 200 million in 2004. Consolidations are always a good indicator of any industry as a whole, especially when business is on a global scale.
Another factor that certainly will help the UK online gambling industry continue to grow is the most obvious of all. Englanders love to gamble. And so long as the online sector continues to make itself more widely available, you can bet your own bankroll more UK players will venture onto the internet to get their fair share. If you happen to reside in the UK and have not yet gambled online, consider doing so at the top-rated UK online casinos, which we have extensively reviewed here at Online Casino Suite.