The latest figures put the United Kingdom (UK) online casino industry at a value of somewhere in the region of £14.4 billion each year. This is why so many online casino operators, such as Gold Casino, are attempting to really penetrate the market and increase their share of this huge pot.
Due to the increasing size of the industry, it has come onto the radar of the UK government. The Gambling Commission has since introduced a number of new regulations and rules that help to further increase both integrity and safety for players and online casinos alike. It is inevitable that this new legislation will have a direct impact on the future of the online casino industry in the UK.
The UK Gambling Commission (UKGC)
It is the UKGC that is responsible for overseeing the online casino industry in the UK. This establishment was set up back in 2005 as the online casino industry first started to emerge in the UK. It works to ensure the safety of both casinos and their patrons, and create a wholesome environment to play in. This is done through the implementation of various rules and regulations within the industry, including the granting of licenses to operators. As the industry and technology continues to evolve at pace, the UKGC will play an important role in keeping their legislation in place so that online casino users stay safe whilst also having fun.
The Impact Of COVID 19
With so many people throughout the UK being forced to stay inside of their homes, lots of individuals turned to the Internet and playing on online casinos as a form of much needed entertainment. As normal brick and mortar casinos were closed, their patrons were also forced to get their fix online instead. So it is clear to see that the UK government’s response COVID 19 had a huge impact on the growth of the online casino industry. Whilst some of these new users may go back to frequenting traditional casinos, many of them will continue to play online after experiencing the many benefits of doing so.
Further down the line it is highly unlikely that the UKGC will adopt a more lenient stance when it comes to its regulatory service or conduct. There is some speculation that some restrictions around betting may be imposed on some types of online casino games. Despite these potential issues, the UK online casino industry is perfect for growth with lots of investors still happy to come into a market that they see as being packed full of potential.
With the increasing popularity of technologies, such as virtual reality (VR) and augmented reality (AR), there is a huge opportunity for the online casino industry in the UK to grow even further by providing players with an even more immersive experience. We have seen in recent years just how popular this technology has become, so jumpring on this wave is important for the success of thee industry.