Online gambling is a phenomenal industry growing at an accelerated pace thanks to technological innovation like mobile gaming and increasing interests by people from different nations such as Finlands Nettikasinot sector.
According to Grand View Research, the online gambling industry will reach a market cap of $127.3 billion by 2027. What is even more impressive is the expected CAGR of 11.5% from this year to the milestone 2027.
Experts predict that technological innovations such as Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) will play a huge role in helping the online gambling industry reach those numbers.
The casino number is one of the most popular sectors of the online gambling industry, it is one of the areas predicted to keep its impressive growth rate in the coming years. The online casino market in Finland and the UK are both thriving. However, they exist key differences between these two countries in terms of official casino statistics and numbers, key trends driving the industry and the gambling culture and habit of both countries.
Online Casino Statistics in Finland
Finland enjoys online gambling especially online casinos. Finn's average spends in a year on gambling include:
- Spending £350 on domestic gambling.
- Spending £160 on RAY slot games.
- Spending £180 on Veikkaus games.
- Spending £11 on Fintoto games.
The casino industry in Finland has been recording an impressive growth rate of 10 percent every year since 2016. The state-owned casino industry generates massive profits every year for the government.
There are only16 land-based casinos in the whole of Finland, yet the casino industry generates millions for the government. This is only possible because of the remarkable success of the online casino industry.
In 2012 alone, online casino operators in Finland generated a massive £130 million in profit. These numbers have seen grown since then.
The population of Finland is 5.5 million people but that did not stop it from dominating global charts. According to the Economist, Finland is the fourth-largest gambling country, spending an astonishing 2 billion euros yearly. In 2019, the state-owned gambling enterprise Veikkaus' posted a huge EUR 1 009.0 million as profit.
Online Casino Statistics in the UK
According to the latest statistics released by the United Kingdom Gambling Commission (UKGC), there is an increase in online gaming operators caused by its increasing popularity. The latest report focuses on the gambling patterns and numbers between October 2018 to September 2019.
The United Kingdom Gambling Commission (UKGC) is the body that regulates gambling in the UK. According to it, the total gross gambling yield for the period between October 2018 and September 2019 was an astonishing £14.3 billion. The UKGC estimated the total gross gambling yield excluding lotteries to be in the region of £10.5bn in the UK.
According to the Economist (2016), the UK is the 10th largest gambling nation in the world.
In the UK, the gambling industry is a rich source of employment for thousands of Brits. UKGC statistics for October to September 2018 estimate that 98,174 employees are working in the UK gambling industry.
Compared to what is attainable in Finland where there are only a few numbers of gambling premises, the UKGC reports that th number of gambling premises in the UK is 9,745, with
the total number of betting shops at 7,315. Not surprisingly, these numbers decreased a 10% decrease from last year. The popularity of online gambling accounts for this. Brits are ae not losing interest in gambling, rather they are exploring online mediums to play.
The total gross gambling yield for gaming machines in the UK is £2.5 billion. Remote betting gross gambling yield is £2.1billion while remote bingo is £198 million. Remote casino gross gambling yield is £3.2billion. Land-based casinos generated a gross gambling yield of £1.1billion.
The most popular form of gambling in the UK is online casino games. According to UKGC, slots account for 69.3% of the online casino gross gambling yield, followed by roulette which accounts for 13.5%, and blackjack which accounts for 6.1%. There are also 155 casinos in the UK.
The Online Casino Trends, Habits and Culture in Finland
Finns have a rich gambling culture in which about 80 percent of its population engaged in gambling. This stat is from the National Institute for Health and Welfare (THL).
The top gambling trend in Finland is online gambling. A vast majority of Finns that gamble does it online. There are only 16 land-based casinos in Finland run by state-owned enterprises. These numbers are not enough to satisfy the strong gambling culture, thus the focus on online gambling.
Gambling like in many other countries has not always been popular. There were times in Finnish history were gambling was banned
The deep-lying culture of gambling owes much to the spirit of nationalism created among Finns. The gambling industry in Finland including the online casino own is ruined by the government. The profit gained is put back into Finnish society. Gambling proceeds have been used to fight different important causes in Finnish history.
The Online Casino Trends, Habits and Culture in the UK
Online casinos are popular in the UK, amounting to a large share of gambling proceeds. One
noticeable trend worth developing s the rise of E-sports betting in the UK.
Virtual Reality, Augmented Reality, mobile gaming and cryptocurrency are also on the rise in the UK online casino market.
Britain has a rich online casino gambling culture. The United Kingdom Gambling Commission (UKGC) is the body responsible for regulating the industry. It is the private players that dominate the industry.
Comparing Finland and UK Online Casino Habits
The major difference is that in the UK, the online casino industry is run by private enterprises with little government interference while in Finland, the government controls directly the online casino industry. In other metrics such as trends and growth statistics, the online casino industry in both countries share lots of similarities.