With the Gambling industry being as strong as ever and the technology industry booming it was only a matter of time before the two markets joined together. Casinos are now turning to the internet as a major source of income through online casinos. This phenomenon covers sports betting, poker, bingo and lotteries.
Due to licensing and taxing laws in the UK, companies who operate an online business are taxed just as land businesses are and with this fast becoming a billion pound business, the UK’s GDP has resultantly profited from its success.
In 2001 the global online gambling market was estimated to be worth over £2 billion. As many experts predicted the online casino market has taken off and is now worth over £15 billion. This is not surprising with over 50% of the worlds population taking part in some form of gambling each year.
Just focusing on the UK, the annual revenue generated from online gambling companies will be the equivalent to 1% of the total UK GDP. This may not seem a huge amount, however think about it this way, that equates to the total GDP of some small countries.
Games such as roulette, blackjack , slots and poker have been around for years and with the new ease of access, their popularity has rocketed. This and the access to in-play betting has meant the casino market keeps getting bigger year on year. From the opening of casinos in many cities, to the introduction of the online casino, thousands of people gained instant access to these games.
With technology improving all the time, the software and smartphones available mean access to online casinos is getting even easier and easier whilst making gambling even more accessible and appealing to a broader market . Sites such as GamingClub.com/nz online casino are now played in the UK, something unimaginable only a few years ago.