Wagering is a long-standing activity in most European countries, with the UK offering different aspects people aren’t aware of. Also, gambling is widespread across Europe and the UK thanks to its robust cultural and historical legacy.
Millions of legal-age adults wager across the continent daily, with most European countries allowing gambling. 25 out of 29 European nations offer competitive markets, while the remaining four have created stringent controls as per the European Gambling and Betting Association (EGBA) records. While we don’t want to burden ourselves with stats, we can still capture the nits and grits, offering a decent starting point.
UK is the Biggest Gambling Market in Terms of Popularity and Revenue
One of the best tools used in determining a wagering platform’s revenue and market size is the Gross Gaming Revenue (GGR). GGR is the difference between the amount wagered and the amount won in a gambling platform. Europe’s GGR in 2022 was €108.5 billion. The UK generated a staggering £14.8 billion for the same period, making it Europe’s largest gambling market.
Online casino real money wagering is also a growing trend in the UK and Europe. However, more European Union (EU) revenue is generated by physical casinos rather than online. Contrast it with the UK, whose online sector accounts for half of the GGR created: £6.4bn out of the £14.8bn. It’s safe to say European gamblers prefer in-house wagering, a likely nod to gambling being viewed as a social activity.
Despite other EU nations having significant populations, the UK is the biggest punting market in Europe. Netherlands, Italy, Spain, Germany and France had the largest GGR in 2020.
Who Participates in Online Gaming in the UK?
The common trend across Europe is that the male group, aged 30 to 44, is the one that mainly gambles online. However, there has been a steady rise in female punters since 2020. Also, men begin wagering at around 20 years, while females start at 34.
Some 24 million UK players play online games at least once every month, translating roughly to about 44% of the adult populace. iGaming is also a popular pastime for various UK age groups, especially those aged 35 to 55.
What Are Some of the Most Popular Gambling Products?
Slot machines are the most popular casino product in the UK. Despite no EU blanket laws determining which iGaming products to offer in countries, “casino products” are also a popular niche in Europe as per revenue created.
Land-based casinos are popular in France and the only options you can find online are poker and sports betting. Online casinos are prohibited in the country. Spanish players fancy any form of gambling, but their fan favourite is the state lottery.
How is the Gambling Market Setup?
The UK has some of the most liberal wagering laws in Europe. On the other hand, countries like Cyprus and Norway have the most stringent laws in the block. The UK also has more lenient advertising regulations, while countries like Italy and Spain have an almost total ban.
Apart from two exceptions in Britain, the UK is the only European country that has allowed high-street bookies. With the passing of the Gambling Act of 2005, the UK became the first European country to legalise online gambling.
Other countries that followed suit in legalising online wagering included Italy (2008), France (2010), Spain (2011) and Denmark (2012). The Netherlands in 2021 and Germany in 2021/2022 are the latest nations to allow online wagering.
It seems the UK presents itself as a gambler’s paradise courtesy of its liberal laws compared to other EU countries. Gross gaming revenue is high, and the populace has embraced iGaming products immensely. With expected changes in the UK gambling market due to a proposed white paper, we’ll be eager to see how the scene will shift.
