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The UK Gambling Market size is forecast to increase by USD 3.29 billion, at a CAGR of 5.36% between 2022 and 2027. Market expansion hinges on various factors, including the surge of online gambling platforms within the UK, heightened adoption of e-sports betting, and the escalating frequency of sporting events. This growth is propelled by the convenience and accessibility offered by online gambling, particularly in the UK market, which has witnessed a significant shift towards digital platforms. The rising popularity of e-sports betting among enthusiasts and the proliferation of diverse sporting events globally contribute further to market expansion. These factors collectively drive demand and engagement, fostering a dynamic landscape in the gambling and betting industry with a strong emphasis on digital innovation and customer-centric offerings.
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In company offerings, we provide an in-depth analysis of 20 top company profiles, along with other valuable insights comprising of:
• Company Overviews
• Key News and Updates
• Products and Services
• Market-leading Offerings
• Focused Segments
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
888 Holdings Plc - The company offers gambling services such as online casino, online sport betting, online poker, and online bingo.
Qualitative and quantitative market research and growth analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. In market growth analysis, data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Our segment comprises two primary segments, each with its respective sub-segments for further detailed analysis within specific national markets. Furthermore, our market coverage extends across geographic regions, with comprehensive breakdowns to provide in-depth insights of market research and growth report.The market has seen a significant transformation with the widespread adoption of mobile phones and advancements in blockchain technology. These developments have paved the way for digital betting platforms that offer diverse promotions and access to various online games such as Blackjack, Poker, Roulette, and Slot machines. The shift towards cashless transactions and the growth of internet penetration have further fueled the popularity of online gambling, especially during major events like the NFL season and international sports like rugby and soccer. The emergence of modern smartphones and 5G internet technology has enhanced the virtual reality (VR) experience, leading to the rise of virtual platforms and VR casinos. Additionally, the availability of virtual payment gateways and digital currency has streamlined tournaments and gaming activities, catering to both desktop and mobile users, particularly the younger population who are more inclined towards digital gaming experiences.
The betting segment is estimated to witness significant growth during the forecast period. The betting segment of the market will witness accelerated growth during the forecast period. The legality of betting across different platforms for various sports in the country facilitates the growth of this segment in the country. In addition, the rising popularity of eSports and subsequent betting in this arena are likely to contribute to the segment growth significantly.
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The betting segment was the largest segment and was valued at USD 4.53 billion in 2018. The emergence of the online platform for betting has had a positive impact on the segment. Sports betting is expected to replace the online casino gambling format with its expansion over the online desktop and smartphone segments. The country legalizes the use of real money for betting on eSports tournaments. The country has been a leader in adopting this form of betting since 2016 which opened opportunities for the market. companies are likely to capitalize on this audience and offer services and platforms for punters to place their bets on eSports. Sports betting is a key product for driving customer acquisition, benefiting from a relatively lower cost per acquisition, longer customer lifespans, and good cross-selling potential. It also offers the greatest opportunity for competitive differentiation and controlling sports betting technology, which are the key factors that drive innovation and rapid response to changes in the market. These factors contribute to the segment growth during the forecast period.
The market is driven by the surge in online gambling platforms, fueled by widespread internet access and the convenience of mobile phones. This trend is amplified during major sporting events like the NFL season, rugby, and soccer matches. The adoption of modern smartphones and 5G internet technology has enhanced virtual reality (VR) experiences and facilitated digital betting platforms and virtual payment gateways. However, challenges such as regulatory constraints, the rise of digital currency, and catering to a diverse younger population pose ongoing challenges for the industry. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increased adoption of online platforms for gambling is one of the key factors driving the growth of the market. The online gambling sector in the UK has been witnessing significant growth over the last few years. The reason for the country's dominance and realization of revenue from online platforms is primarily attributed to the limited number of restrictions imposed on these platforms in the UK, unlike in countries such as China and India, where the imposition of bans on online gambling has pushed the practice underground, creating multibillion-dollar black markets for wagers.
However, the popularity of computing and mobile devices, especially among the younger generation, is the main reason for the extended reach of online gambling in the UK. The increasing inclination among the younger population for online gambling platforms will be one of the significant factors driving the growth of the market in focus during the forecast period.
The introduction of Bitcoin-based gambling is an emerging trend shaping the market growth. Bitcoin is a type of cryptocurrency that allows peer-to-peer payments on the Internet. With the rising popularity of Bitcoins, many gambling companies are encouraging the use of Bitcoins. This is due to the advantages of cryptocurrency over normal currency. One of the key advantages of cryptocurrency is that it encourages cross-border transactions and results in the market expansion. The fee involved with normal currency is higher than cryptocurrency. With Bitcoins, deposits and withdrawals are practically free. However, Bitcoin gambling might require a nominal processing fee that is lower than the fee charged by major banks and credit card companies.
Furthermore, Bitcoin transactions are secure and faster than the normal currency. In 2016, the Gambling Commission in the UK added digital currencies like Bitcoin to its list of acceptable payment methods available to UKGC licensees. The rising popularity and ease of transaction are expected to drive the adoption of Bitcoin and other cryptocurrencies as modes of transaction by more companies in the UK during the forecast period, which, in turn, is anticipated to drive the growth of the market in focus.
Challenges related to illegal gambling are notably driving the market growth. The growth of the gambling industry, in terms of revenue and reach, has given rise to several avenues for illegal gambling. The rise in the operations of illegal gambling sites will hinder the market. eSports is increasingly becoming a mainstream source of entertainment and competition. Although the recognition of eSports as a sport is debated, the emergence of competitive video gaming has led to problems such as doping, gambling-related match-fixing, and non-gambling-related corruption. In several instances, gamblers have used illegal means to gamble. Soccer players have been involving their wives/girlfriends or fathers in the gambling of sports events to conceal their identity.
In addition, with the rise of new forms of currency, such as cryptocurrency, the market is witnessing an increase in corruption and illegal gambling. Within the preview of the Gambling Commission, the Sports Betting Intelligence Unit (SBIU) deals with reports of betting-related corruption, helps understand potential threats, and helps protect the integrity of sports and betting which limit the market growth. Thus, illegal gambling may hinder market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
The market is a dynamic landscape shaped by a multitude of factors and technological advancements. Computer programs and electronic devices have revolutionized the industry, enabling customizable budgets and real-time gambling experiences through desktop-based applications and user-friendly interfaces developed by private enterprises and third-party software providers. The advent of cost-effective mobile applications, driven by 5G internet technology and blockchain innovations, has expanded the reach of casino gaming platforms and virtual wagering options, particularly during events like the NFL season and rugby matches.
Moreover, the market thrives on various elements, including the allure of casinos, widespread internet penetration, and technological innovations like blockchain and virtual reality (VR). With the advent of modern smartphones and 5G technology, online gaming platforms have flourished, offering immersive experiences like blackjack, roulette, and slot machines. Cashless transactions, facilitated by digital currency and virtual payment gateways, have become prevalent, ensuring convenient and secure betting options. Third-party software providers contribute user-friendly interfaces and cost-effective mobile applications, enhancing the accessibility of gambling activities across devices. Furthermore, the market benefits from corporate sponsorships, celebrity endorsements, and a societal acceptance of online gambling, making it accessible in homes, public places, offices, hotels, and entertainment venues. However, challenges such as security concerns, identity theft, and hacking persist, underscoring the need for robust security measures and technological safeguards to protect gamers and ensure a safe gambling environment.
Market Scope |
|
Report Coverage |
Details |
Page number |
147 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.36% |
Market Growth 2024-2028 |
USD 3.28 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.22 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
888 Holdings Plc, Allwyn UK Holding Ltd., Ballys Corp., Bet365 Group Ltd., Betfred Group, Betsson AB, Buzz Group Ltd., Caesars Entertainment Inc., Casino Del Sol, Delta Corp. Ltd., Entain Plc, Evolution AB, Fantasy Springs Resort Casino, Flutter Entertainment Plc, Kindred Group Plc, NetBet Enterprises Ltd., Rank Group Plc, Red Rock Resorts Inc., Simba Games, and Scientific Games LLC |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Platform
8 Market Segmentation by End-user
9 Customer Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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