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UK Gaming Market could reach $2.83 billion in growth by 2026

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Recent forecast reports on the UK gambling market show an estimated growth of $2.83 billion, driven mainly by the online gaming

For every region, the scope of the gaming market may look different, with regulations, games, and services that vary.

The United Kingdom gaming industry is showing more and more promise as the market continues to grow and expand.

A forecast report reveals that the market could potentially register growth of $2.83 billion by 2026.

Predicted Growth

In the newest report on the gaming market in the UK, 2021 – 2026 estimates register a growth of $2.83 billion. It shows that growth will continue at a CAGR of 5.25% during this forecast period, with the market being fragmented due to the presence of both international and regional vendors.

The report also indicates that the online gambling market in the UK will be driving the growth of the market. At this time, the UK dominates online gaming platforms due to limited restrictions. The belief is that the continued growth of online gambling at the expense of conventional gambling operations will be the drive behind the UK market in this period.

Currently, the market is fragmented but will become less so in the future. It is believed that competitors need to differentiate their products from the rest and add unique value to strengthen their foothold in the market. Also, market vendors will need to leverage the existing growth prospects within the fastest-growing segments while keeping their positions within the slower-growing segments.

Participants within the major market include 888 Holdings Plc, Ballys Corp., Bet365 Group Ltd., Betfred Group Ltd., Betsson AB, Caesars, Flutter Entertainment Plc, Scientific Games Corp., Simba Games, Entertainment Inc., Delta Corp Ltd., Entain Plc, Evolution AB, Station Casinos, and Kindred Group Plc.

Gambling Market in UK Growth Forecast 2022-2026
Technavio's latest market research report gave us insights on the UK Gambling Market. Image Source: www.prnewswire.com

Different offerings in the market

Companies like Bet365 and 888 Holdings Plc provide a wide range of gambling services, including online casino games, online sports betting, online poker betting, and online bingo.

The casino section includes online slots, table games, live dealer variants and more. And for sports bettors, there’s the opportunity to bet on all the popular sports, including football, cricket, tennis, basketball, horse racing, and more.

And then there are companies like the Betfred Group Ltd, which provides punters with dedicated sports betting, horse betting and bookmaking services. If you’re looking for a wide selection of betting options on the biggest sports markets with competitive odds, this bookie is one of the top options in the UK.

The rise of AI

One of the emerging trends that can impact the growth of the industry is the implementation of artificial intelligence (AI) in gambling.

With the implementation of AI, the industry is getting bigger and better. Adding AI allows casinos to provide users with personalised game recommendations, assists with smarter bet making and improves odds calculation. It can detect and prevent fraud and assist in noticing gambling addictions.

Incorporating AI can lead to a better gaming experience in many ways. If you are a fan of those innovations, keep on learning more in our piece on AI and Machine Learning: The impact on online casinos.

Challenges to consider

As with all things, growth comes with challenges, and one of the main priorities on the topic of online gambling regulations in the UK is responsible gaming and underage gaming. A big challenge is stopping children and minors from being drawn in.

It’s challenging, as many developers and providers make use of fun and beloved cartoon characters on their sites and in their games. Players can wager on games like Top Cat, Peter Pan, Jungle Book, and more. While these can bring a sense of nostalgia for the older generation, they also appeal to minors, which can be dangerous.

For this reason, the UK government has restricted gambling ads that may tempt younger generations. However, the belief is that these gambling ad restrictions may limit the market growth in the years to come.

Published: October 2, 2023

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Article by Polly

CasinoWow Contributor

Hey guys, my name is Polina but my friends and colleagues call me Polly. I am truly passionate about online casino gaming and exploring the different online gambling experiences. I'm really into diving deep into topics and researching all the details. My aim is to gather the best information and write interesting articles for all the readers at CasinoWow.

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