Online gambling in the UK predicted to grow by more than £80 million by 2024

By Chika Anene
Published September 1, 2021

Due to the pandemic, the whole world has witnessed a tremendous shift in “in-person” affairs and, as more and more UK gamblers have sought solace in online gambling, so has the gambling industry. 

As online gambling continues to gain momentum and several UK players spend more time playing slots or betting on the internet, the online gambling industry is predicted to reach a whopping £80 million in the UK by 2024.  

Industry data already point to exponential growth in online gambling since the start of the pandemic with no signs of a growth plateau.

An rise in online gambling 

During the lockdown in May 2020, reports from Google Trend showed that more and more UK players spent time scouring the internet for online casinos due to brick-and-mortar businesses no longer being able to meet players’ needs, thus making way for groundbreaking growth in the UK online casino market.

The UK, which is currently leading in the area of online gambling, witnessed an increase of 4 % in online gambling between April 2018 and March 2020, with the final quarter of 2019 and beginning of 2020 showing online gambling as being responsible for half of the revenue gathered during that time. 

Slots highest ranked in terms of popularity

The last 10 years have given a rise to innovation and competitiveness in the gambling industry, with many online casinos such as 21.co.uk, Rizk casino, and the likes, competing for the attention of eager UK players in the form of attractive offers and game lobbies overflowing with mesmerising games, most especially online slots.

Of all of the money wagered on the internet, slots have been recorded to account for most of it, covering an impressive 69,3 % of the total, a staggering £3 billion in GGY (Gross Gaming Yield). 

Reaping the benefits of online gambling

Thanks to a system created by the UK Gambling Commission, the UK is able to benefit its citizens gambling online and pay for the maintenance of public services like schools and hospitals with the tax payments from online gambling.