The global remote gambling market value is expected to exceed £93.4bn by 2026. It’s probably not in the UK that the industry will see the swiftest growth, though.
Thing is, UK online casinos and other betting sites have already seen a huge growth in recent years. This has to do with the rise of mobile gambling, technological developments and favourable laws.
However, while the levels of activity of the British gamblers continue rising, many other countries are expected to join the global gambling market too.
Gambling Market Value to Rise by 263%
The value of online gambling (including online and mobile casino, bingo and betting sites) in 2017 was £35,5bn. According to Coherent Market Insights, by 2026, the number will jump to $123,5bn.
That’s roughly £93,6bn (based on the exchange rates at the time of writing). In other words, this is a 263% expected increase in a 9-year period. How is this possible, you may ask?
There are many possible reasons, including:
- The legalization of sports betting in the US
- More relaxed gambling regulations across the Asia Pacific, especially Macau and Hong Kong
- More countries worldwide are legalizing online betting and gambling
- New mobile-friendly payment methods emerging
- Other technology making remote gambling easier by day (e.g. mobile apps and Bitcoin payments)
Hence, the largest increase in revenue from gambling and market value can be expected from the US and China.
Meanwhile in the United Kingdom…
We’re not saying that the UK is going to fall back. This market is at the forefront of remote gambling worldwide and there’s no reason to predict any major changes. It’s also extremely likely that its popularity in the UK will only increase.
Still, the portion of the global gambling market value that the UK contributes will most likely diminish.
As of now, the UK’s remote gambling sector is worth £5,4bn according to the Gambling Commission.
That’s more than 10% share of the global remote gambling market value. There’s a chance that this percentage will lose one digit by 2026. The Brits won’t need to do anything about that. It’s just that the new successful markets will start generating big money very fast.
Naturally, the current growth in the UK won’t keep up with the growth of newly emerging markets elsewhere. Take from example these statistics:
|Year||Remote Gambling GGY in the UK|
A further increase can be expected in the near future. Yet, it’ll get increasingly difficult to sustain the same rate of growth. The new regulated jurisdictions will distract investors and companies elsewhere.
The simplest examples of this are already visible in the industry press today. As the regulations tighten in the UK, some major companies start looking across the pond for alternative investments.
The Mobile Revolution
On the other hand, the increasing popularity of mobile casinos attracts many new customers. According to the statistics from the previous years, the other forms of gambling are taking an impact.
For example, ten years ago, the UK’s remote gambling sector only contributed 10% to the whole industry’s gross yield. Today, the percentage is closer to 38% – mostly due to mobile casino entertainment.
This will surely keep the yield and revenue rates in the green.
Hence, it’s possible that the UK’s gambling market value by 2026 will be around £10bn (almost double that of today). But other countries will contribute to the global growth of the industry even more than that.
What does this mean for you, the player?
There should be no major changes to the way you play casino games today. Some companies may leave the UK market for some greener pastures, but others are bound to take their place.
The number of foreign casinos will undoubtedly increase too, however, we don’t recommend playing there. As a British player, you’ll be the safest if you stick to UKGC-approved sites.