Boost Your Betting Knowledge With These 9 Online UK Stats!
point to point national hunt race Stratford upon avon racecourse warwickshire england UK
As the online betting industry in the UK grows larger, so too do the different forms of wagering available. If you're curious about how and when it became legal, you're not alone.
The journey began back in the 1990s but it wasn't until 2005 that it was officially allowed.
Now a thriving source of revenue for the British economy, offering billions of pounds to its GDP, there's much to discover.
Here we'll provide interesting facts on who gambles in the UK, what kind of impact it has had on the nation, and more!
So let’s dive into this fascinating topic.
UK Online Betting Revenue Statistics
In the UK betting sites market, several online operators have made their mark. Not only have some bought out competitors to gain more control, but they’ve also become major revenue sources in the industry.
Betfred leads with a £470 million profit and £2.8 billion revenue for 2020-2021; 888 Holdings follows with £81.3 million profit from their £332.1 million revenue during 2022 reports; and Flutter Entertainment's merger of PaddyPower and Betfair earns them a total of £6.036 billion revenue and £746 million in profit.
LONDON: The exterior of a William Hill betting shop in London, England, UK. William Hill is the UK's leading bookmaker.
In terms of size, William Hill employs 12000+, Flutter Entertainment boasts 15000+ employees and Kindred Group has 2000+.
These companies have it all: financial success and personnel to keep up operations.
9 Facts About Online Gambling in the UK
The UK Gambling Commission, which first took over in 2007, made it legal for British people to gamble online through regulated and licensed sites with The Gambling Act of 2005.
Since then, the online gambling industry has only grown and flourished in the UK. It's amazing how much has changed in less than two decades–gambling online is now quite commonplace!
With that being said, let’s take a look at nine interesting facts about online betting in the United Kingdom.
Tax Laws
It was only after the introduction of the Gambling Licensing and Advertising Act in 2014 that online bookies had to comply with taxation requirements for British customers. This legislation meant that gambling sites had to adhere to profit tax laws.
Licenses
In the UK, bookmakers who wish to provide legalized betting need to acquire a specific type of license termed remote general betting licenses. Since 2014, any remote bookies in the UK must hold these necessary licenses in order to be legally compliant.
UK Online Betting Sites History
For those curious about UK online bookmaker history, Betfair and William Hill are two companies worth looking into.
Betfair began in the year 2000 as a UK betting exchange, and William Hill has been operating since 1998 – plus its traditional physical-location bookmaking started in the 1930s.
A History of Traditional Bookmakers
Before the internet became prevalent, UK punters had to visit real, physical locations to place their bets. Such establishments were not officially accepted until 1960, when the Betting and Gaming Act was passed, legalizing gaming and wagering for citizens.
Duties
When it comes to UK online gambling, there are also “duties” that must be paid by betting sites. The amount varies based on the type of wager made.
London Gambling Shops
Much of the UK gambling industry is located in London, where there are over 1,000 betting shops.
Most Popular Online Markets to Bet on
When it comes to placing wagers on the web, British punters tend to favour football matches, horse racing, and greyhound racing.
Online and Mobile Betting in Pubs
Did you realize that it is permissible to make wagers from inside a UK pub? UK betting sites with UK Gambling Commission licensing and mobile betting options permit this activity. All bets must be placed by the bettor, themselves, in order for them to be deemed valid.
National Health Service and Gambling
The UK gambling industry appears to be more intent on expanding than on taking care of problem gamblers. Figures from England's National Health Service revealed that the sector allocates 1500 times as much to marketing and advertising compared to dealing with gambling addiction.
Summary – Online Betting UK
These days, UK bettors have plenty of options when it comes to internet bookmakers. Betfred and William Hill are two names that come immediately to mind, as they're both licensed by the UK Gambling Commission.
Thus, convenient access to wagers is available.
As time passes, these numbers continue to grow, and billions of pounds are earned by the online gambling industry in the UK annually – mainly from individuals within the 40s-50s age range who are predominantly male.
FAQs
How large is the UK online gambling industry?
It is estimated that over 2 million people in the UK are engaged in the online gambling industry, which increases by around 7% each year. Moreover, the sector of online sports betting alone is worth over half a billion pounds.
What's the percentage of UK gamblers?
Data collected in the UK in 2019 demonstrated that nearly half of the inhabitants engage in gambling activities. It ought to be emphasized that these statistics were only derived from inquiries conducted among those asked if they had gambled in the recent past.
How much does the average person bet in the UK?
The average Brit spends around £70 each week on gambling, be it betting or other activities. Men tend to partake in these activities more than women do and Londoners are particularly active in this regard, with their spending levels outstripping those of other regions.
Who gambles the most in the UK out of men and women?
The age range of people involved remains constant when it pertains to middle-aged individuals. Yet, differentiations between men and women gamblers are seen in the 2018 Gov.UK data; 15% of English males gamble online compared with a relatively smaller 4% of the female population.
What is the amount the average gambler loses in a year?
Gambling is a high-risk activity and the average adult gambler will, on average, end up losing considerable sums of money each year: between £9,000 to £18,000. Even those with modest annual incomes rarely make it through unscathed.
How much is the gambling industry worth to the UK economy?
The UK economy is boosted in several ways by the gambling industry. The total value of UK betting stands at more than £6 billion, with another £7 million coming from taxes imposed on the activity. For 2021 alone, close to £3 billion was sent to the national treasury in gambling tax contributions.
Which UK age group bets the most?
The UK's 2005 Gambling Act was created for the protection of children from potential harm caused by gambling. The legislation sets minimum age limits for certain betting activities, most commonly 16-18 years old. However, the majority of gamblers in the UK are generally aged between their mid-40s and mid-50s.