Gambling is one of the oldest and most enjoyable pastimes in the world. Whilst the human race has been gambling for centuries, it’s only recently that gambling has really taken off and reached its full potential in the UK. There are a number of theories at to why gambling is growing in the UK, but what is the truth? Each year in the UK, gambling generates more than £16 Billion, and that number is increasing every single year.
Whilst we’ve enjoyed gambling on a grand scale for decades, why is it that gambling in the UK has only really taken off in the last decade or so? That’s what we’re going to be looking at today, as we look at why gambling is growing in the UK.
Relaxed gambling laws
One of the main reasons why experts believe that gambling has become so popular in the UK is due to the relaxed gambling laws we now have. The UK gambling commission recently relaxed a number of gaming laws and as a result, gambling has increased dramatically over the years. In fact, since these laws and rules were relaxed, UK gambling enjoyed its biggest spell of continuous growth ever.
The Gambling Act 2005
The Gambling Act, 2005, was an example of one of the aforementioned gambling laws we touched upon previously. The Gambling Act of 2005, which ironically came into force in the year 2007, opened up a whole new world of advertising possibilities for gambling companies. Ever notice how, nowadays, whenever you’re watching the football, the golf, the boxing, or any other sporting event, as soon as the adverts come onto the TV the first one is usually an ad for a gambling company? Sports betting, casinos, poker, and online casinos now have greater advertising opportunities when it comes to marketing themselves through offering customers UK signup offers, and they’re reaping the rewards as a result.
Online gambling and smart tech
Without a doubt, one of the biggest deciding factors when it comes to the growth of the gambling industry is online betting. Because we now have the ability to browse the web anywhere, at any time thanks to our phones, we can gamble conveniently online. There are now countless online casinos available for you to browse at your leisure, and as a result, this has greatly increased the amount of revenue that the online casinos take every minute of every day.
Even though gamblers can potentially win big when they gamble, ultimately it’s always the bookies that come out on top. Because we are now spending more money on gambling, the gambling companies are earning more money, and they therefore have more revenue to pump into their businesses. There are now virtual casinos you can browse on your phone which offer you all kinds of fun and enjoyable games to enjoy at your leisure. More money means that the gambling companies can offer punters more games, more options, a better gambling experience, and more fun.