Online gambling was once considered nothing more than a passing fad, with customers preferring the physical presence of brick-and-mortar casinos. However, the way we gamble has changed quite a bit over the years. The internet has introduced us to countless new games, applications, and platforms where we can bet on our favourite sports teams, hold poker tournaments and play roulette. Not to mention how the worldwide pandemic coerced everyone to engage in digital activities and refrain from using physical entities.
And in a country like the UK, where gambling is legal, the industry is showing no constraints to evolving. With changes in technological advancements, it’s not surprising that many people are staking their stakes online as opposed to visiting land-based casinos. As online gambling revenues rise year on year, there is a clear indication that most gamblers are turning away from land-based casinos.
This article will look upon how the pandemic affected the gambling industry, gave a boost to online casinos, their stand against the brick-and-mortar casinos, and the safest ways to stay safe and secure on the market.
The Impact of COVID-19 On the Industry
While the UK has been on hiatus as far as land-based casinos go, the big story here is how much virtual growth casinos have had since the COVID-19 ruling was implemented. Most of the revenue garnered by casinos in the UK from the tail end of 2019 into 2020 came from remote and online gambling.
Specifically, revenue from online gambling accounted for more than half of the total revenue, representing an 8.1% increase from the previous report. More than half of the industry’s revenue for the first time ever was generated by online and remote casinos, which have begun to overtake longstanding land-based establishments.
How are Online Casinos Evolving?
As the above numbers speak for themselves, the UK gambling industry saw dramatic swings in revenue. Brick and mortar casinos were shut down across the country, and remote gambling saw a considerable boom in activity. This move comes as the result of the rapidly spreading COVID-19 virus, which has forced many physical casinos to close their doors to guests who would otherwise be placing bets at land-based tables.
However, despite the losses, it’s clear that the UK online casinos have been making up for the losses from offline casinos and other companies that rely on revenue from gambling. According to BritishGambler for April 2021 to September 2021, total betting and gambling receipts are £1,456 million, which is £112 million (8.3 percent) more significant than the same time during the previous fiscal year-to-date.
As remote betting gains more and more acceptance among the public, it’s safe to assume that these numbers will continue to rise. And with more and more people becoming aware of these lucrative opportunities, consumers are choosing to make more wagers on the internet rather than at their local land-based operations.
Online Vs Offline Casinos
The competition between online and offline casinos generated a lot of debate in the media during the pandemic’s peak. One of the most prominent marketing strategies online casinos used to promote their product was safer than its offline equivalent. Online casinos use a 128-bit SSL system to store customer data and transactions. On the other hand, offline casinos are safer as you can see what other players are doing and how dealers deal with cards.
Today, it is widely known that both platforms are equally secure. In fact, there are more software safeguards in place to protect player data and transactions at online casinos.
The New Luxuries of Live Casinos in the UK
Gambling laws in the UK have relaxed a great deal over the past decade, and UK residents can now enjoy a wide variety of gambling options, whether they are after online slots or card games like poker. In addition, many casinos offer fantastic bonuses for new players and promotions for regular players.
However, for best practices, the citizens of the UK must follow standardized measures to enjoy the sincerity of gambling. Citizens that want to indulge in this activity must do so by only engaging with licensed gambling sites as they are poised to offer a fair and safe customer experience. These sites must prove that they provide safe and secure and guarantee payouts, show responsibility among operations, and the right tools to govern better and real money playing activity.
The future of online casinos is still tied to the drastic measures that the UK government’s been taking to try and rid the country of COVID-19 and other destructive viruses. As long as a full recovery seems unlikely, no one can predict how successful online gambling will be when the lockdown finally lifts.
However, one thing is certain for sure; Online casinos of the future will look quite different from those of today. While few could deny that the internet has completely changed both how people communicate and how business is conducted, online casinos also continue to evolve and grow in unprecedented ways.
The post Is Gambling Ready to Evolve in a Digital Age? Dissecting the Rise of Online Casinos in the UK and the Impact of COVID-19 on the Industry appeared first on InsightsSuccess.