UK Leads European Internet Gaming Market
According to a recent report by H2 Gambling Capitalthe UK is Europe's largest online gaming market. The report also forecast that Italy, France and Spain could overtake the UK in market size. It should come as no surprise that the UK is the largest online gaming market in Europe. In 2005 Parliament passed the gambling act which set up the UK gambling commission and created a regulated market with licensing requirements and consumer protections. Since the gambling act came into force in 2007 Britain has been one of the largest and longest established legal online gambling markets on the planet.
The UK gaming market is also the most open in the world and consumers in the UK have benefitted from a safer online gambling environment and a highly competitive online gaming industry. Online bingo is extremely popular in Britain and is considered an integral part of British culture. There are more than 400 online bingo sites targeting the UK and statistics show that about 3 million Britons play online bingo weekly. Players have benefitted from industry competition in many ways. Today online bingo and casino operators are offering players bigger bonuses and more promotions. Most sites offer players daily, weekly and monthly bonuses and cash back offers. Online bingo and casino operators have realized that player retention is just as important as player acquisition.
The liberal stance taken by the UK has caused player numbers to increase and helped the UK become the European frontrunner when it comes to online gambling revenues. In 2009 surveys showed that about 5.6% of the British population had participated in some form of online gambling. By 2010 the figure had risen by an astounding 32%. During the same period the number of internet users taking part in social networking rose by just 4.5%. Today British consumers spend about £1.7 billion annually on internet gambling, about 18% of total gambling revenues in the UK. Experts predict that in 2013 consumers will spend £2 billion on internet gambling.
Like most industries legislation influences market forecasts and gaming experts are paying close attention to Parliament's plan for tighter industry regulations. This year the EU Parliament took action to bring a more harmonious approach to regulation among EU member nations. Most experts and analysts agree that online gaming will show steady growth in the coming years.
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