Online gambling is regulated by the United Kingdom Gambling Commission. In the UK, this regulatory body carries more weight than any other regulator, making it easier to get into the market. Online gambling is legal, but there are rules for investors that must be followed to keep their money safe. In the UK, the gambling industry is more than 2,000 years old, starting with wagers on coin tosses and jousting. City-centre casinos began opening in the late 1990s. Today, there are 140 land-based casinos in the country, making up 66% of the gambling industry in the UK.
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UK-listed companies are also well-positioned in the digital gambling sector. These operators have significant digital offerings in the world’s largest regulated online gambling market. Their expertise and experience will help them succeed in this new market. This combination of strong brand recognition and the growing popularity of online gambling will help them compete successfully. And although UK-based companies face stiff competition in the US market, the UK’s regulatory environment will ensure they enjoy a strong future.
The government continues to monitor the industry. The Gambling Commission has reported that despite these regulations, the UK gambling industry supports 119,000 jobs, generates PS4.5 billion in taxes and contributes PS7.7 billion to the British economy in terms of gross value added. Furthermore, UK gambling companies have contributed PS10 million to the Young People’s Gambling Harm Prevention Programme. They have also committed to invest PS100 million in problem gambling treatment services by 2024.