The fanciful internet growth has pushed online gambling to the rooftop and made gambling a casual pastime for many players. Modern gambling now means that we don't need to make arrangements to hit the casinos.
With the convenience of smartphones, we can practice our hobby right from our precise location. Not only is it now easier to play online games, but the market has never been more lucrative.
Online gambling is an enticing interest to many players for many reasons. It's now easier to play, and the market offers a wide array of games to enjoy. This means that no matter how busy you are, you can still play your favorite casino games.
The intriguing addition of mobile gaming has gained popularity with entertaining games like Angry Birds and Candy Crush.
Presently, several app stores restrict the sale of gambling-linked apps, with both Google Play and Apple Store using heavy restrictions on their download. Nevertheless, using a web browser and other platforms means users have discovered ways around these limits. The mobile gambling market has seen significant growth, and with e-commerce booming, internet speeds increasing, and other factors, this market is growing more lucrative by the day.
While the attractive gambling remote casino business is predicted to bloom more over the coming years, statistics show that this trend was always expected.
Remote Gambling Is Gaining Acceptance Globally
Many countries have embraced remote gambling (although with significant restrictions), a factor that has nearly valued its international value. In New Zealand, for instance, the prevalence of online gambling is remarkably mushrooming.
According to multiple New Zealand online casino reviews stats, more new Zealanders are spending millions on overseas betting platforms and casino sites over $350 million through popular offshore platforms in less than two years.
This overwhelming interest even resulted in the New Zealand government reviewing its 2003 Gambling Act to adapt to the modern market.
New Zealand is among the many countries trying to adapt to the growth of online gambling. For instance, in the UK that licenses both local and international providers, tom Watson, a popular political figure, even termed the online gambling hype a 'hidden epidemic.' While the Gambling Commission has implemented limits, the market is still thriving-
Massive UK Remote Gambling Yields Represent a New Landmark for the Industry
The UK remote gambling yields a high £6.85bn during the Covid-pandemic (2020-21) period, cementing the status of remote gambling as among the most lucrative markets globally.
According to the UK Gambling Commission, the country's Remote gross gaming yield (GGY) has reached new heights with a £6.85bn high within a 12-month period that ended on 31st March. Surprisingly, this is the same period where the novel covid-19 pandemic hit worst and led to lockdowns.
The commission highlighted in its annual industry statistics that total revenue for the gambling industry came on an 18.1 % increase in turnover-£141.38bn from the 2019-2020 year.
Most of the UK online GGY came from remote casino licensees since they accumulated a total gross gaming yield of about £4.02bn, a substantial rise of 26.4% within the 2019-2020 period. Similarly, slots comprised most of this gross, coming in at £2.91bn, representing a 22.2% increase from the last year.
The newly released report outlined that online betting experienced distinct revenue growth of 13.6%, clocking in at £2.65bn, a surprising figure considering that it came despite the unforeseen suspension of several major sporting fixtures within this period.
Typically, most of this remarkable total came from sportsbooks with around £2.48bn, although there were slight dips in revenue for betting exchange that slumped to a 16.1% drop to £135.7m with gain from pool betting decreasing to £27.2m.
Finally, there was substantial growth in the online bingo industry, with the revenue rising to £189.1m, a massive 7.5% increase.
These three revenue figures represented the highest figures recorded for an entire year in the UK gambling industry.
With remote gambling, the revenue clocked its highest revenue figures during the period starting from October 2020 to 2021 March. During these six months, the revenues hit a high of £1.87bn within the final three months of 2020 and almost a similar rise of around £1.85bn within the first three months of 2021.
Surprisingly, during this period, the casino industry remained rather strong-boasting revenues of over £1bn per quarter – with sports betting proceeds to unprecedented new heights amid hectic sporting calendars. By the close of this financial period, operators held £893.8m in different player accounts, comprising 32 million active accounts within this financial year.
Ordinarily, the commission's report would feature the collective GGY for every sector in the UK. Still, because of the lockdown impact on land-based casinos, the commission outlined that it did not include any appraisals 'where returns were either not yet due or were rather late since they would not trust their accuracy.'
The commission only projected data from one non-remote sector- the National Lottery. The collective sales from the National Lottery and retail amounted to approximately £8.39bn, representing a 6.0% increase.
Out of the over £8bn revenue, £3.52bn came from online while the rest of the £4.87bn came primarily from total retail sales, while the licensee Camelot retained the remaining £524.5m.
Ideally, numerous industry specialists speculate that gambling commissions in nations that have embraced online gambling will continue to formulate new regulations and restrictions to adapt to the new-age gambling market. In the end, the growth of online gambling and, in extension, remote gambling is undoubtedly on the rise, and if these figures are anything to go by, more is expected.