Crypto Gambling Market Size, Share & Trends

Crypto Gambling Market Size, Share & Trends

The introduction of cryptocurrencies a few years ago has indeed revolutionized the transfer of funds, and has made it much more efficient. This is so for the simple reason that the types of checks and balances that are normally available with standard money transfers are left outside the question. Unlike fiat currencies that owe their credibility to banks, digital currencies rely heavily on technology. Blockchain technology, which is employed as a means to guarantee the safety of the money transfer was conceptualized for the first time back in 2008 by…

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Why Do Brits Spend So Much on Gambling

Why Do Brits Spend So Much on Gambling

Gambling is a prevalent form of recreation in Great Britain, a country with heavily regulated landbased and online betting industries. Betting comes in many different forms in the UK, from sports and horse race betting to commercial gambling, bingo, and lotteries. The local gambling industry is constantly growing in size, especially after the legislative landscape changed in 2014. Data released by the local gambling watchdog the UKGC reveals the UK gambling industry witnessed a gross gambling yield of £14.2 billion for the period between April 2019 and March 2020. Gambling…

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The UK National Lottery: Participation Rates, Player Trends, and Sales

The UK National Lottery: Participation Rates, Player Trends, and Sales

Lotteries are considered to be “soft” forms of gambling with a few negative effects. A growing number of people all over the world buy lottery tickets or scratchcards dreaming of winning solid cash prizes. In addition to that, playing the lottery does not require some special mathematical or gambling skills as the result is based on pure chance. The National Lottery in the UK has become a part of people’s culture. It was launched in 1994 and it quickly attracted the attention of people of different age groups. To play…

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Gambling Markets with Recent Tax Hikes

Gambling Markets with Recent Tax Hikes

The gambling industry has been thriving over the last years. When it comes to gambling laws, each country crafted its framework regarding the legality of this pastime. While some jurisdictions took tough measures to ban gambling, others decided to benefit from its profitability and regulate the industry. Gambling has been viewed as a “cash dispenser”. Often, countries that were strong opponents of gambling changed their approach in an attempt to decrease gaps in the economy and create new job opportunities. The tax regime varies greatly between the different countries that…

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The Procedure for Obtaining Online Gambling Licences in the UK

The Procedure for Obtaining Online Gambling Licences in the UK

The UK gambling market is one of the most developed worldwide and it continues growing. In terms of regulations, the legal status of gambling has undergone great changes throughout the years with many alterations. Nowadays, both online and land-based gambling is fully legal and regulated by the UK Gambling Commission (UKGC). The legal gambling age in the UK is 18+ and it can be said that the Brits enjoy one of the most lenient gambling laws. In 2018-2019, the market’s total GGR came to £14.3bn, with only a marginal decrease…

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Important Changes in The UK Online Gambling Industry

Important Changes in The UK Online Gambling Industry

How the UK Gambling Regulator Toughened Its Stance to Protect the Vulnerable The United Kingdom has gone through a long and thorny path to properly regulate its gambling industry. Following the implementation of the Gambling Act 2005, the authorities established a regulatory regime that governs the provision of gambling activities throughout the country and charged the UK Gambling Commission (UKGC) with the task to monitor and support the implementation of the established regulations. Currently, the UK gambling market is touted to be one of the most lucrative in the world.…

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