How Technology is Driving the Growth of UK’s iGaming Industry
UK’s iGaming industry is yet to realise its full potential.
21:50 23 November 2020
It is still fairly new compared to the land-based casino sector which has been around for a long time now. However, it can’t be denied that the online casinos have grown extremely fast over the years, and have not just left their brick-and-mortar counterparts behind, but also contribute aggressively to the growth of U.K.’s economy today.
The quality of online casino games has improved significantly too ever since the first online casino was launched in the country back in 1994; powered by Microgaming. Today, U.K.’s casino players have access to the best games in the industry. Not just that, they can make use of handsome offers such as Virgin Games code to get the most out of every buck spent at these platforms.
Technology’s impact on the UK casino industry’s growth
As per the UKGC (UK Gambling Commission), the iGaming industry enjoys a market share of 38.8% in the country’s gambling revenues, which is larger than the national lottery at 20.6%. The land-based casinos are far behind at 7.4%.
This sector has witnessed comparatively bigger growth over the last 2 to 3 years, with application of various new technologies to its offerings. Considering the money that exchanges hands at online casinos, they’ve also been making full use of modern technologies to constantly nudge the players’ gambling experience to the next level.
The innovations in the 5G network capabilities have further enhanced the experience delivered by U.K.’s online casinos. The usage of 5G network at online gambling platforms enables quicker speed and larger bandwidth, and enhances the performance of already existing technologies. For instance, live streaming, which is quite commonly used at online casinos and betting platforms today, can’t possibly work if the network speed is below par. 5G technology has made live streaming extremely easy, without any glitches or lags. Here’s all that you might want to know about the 5G technology in UK.
New age payment methods
To enable gamblers to play with real money, they should be provided hassle-free and easy deposit and withdrawal options. In addition, these transactions must be made quicker and safer, to help players gain more trust in online gambling services.
UK’s iGaming industry offers a wide range of deposit and withdrawal options to the players today, including bank transfer, credit/debit cards, PayPal, Skrill, Bitcoin and more. The availability of popular payment methods creates a sort of trust between the players and the online casinos, as majority of these payment methods are highly secure in nature.
Server redirections for the UK players
The modern-day UK online casinos offer platforms that are specially tailored to the needs of UK players. Many casinos that have a global presence, offer UK-specific platforms to the country’s players, and redirect all UK traffic to these platforms, so that all revenue generated from the country stays within the country and contributes to the U.K.’s economy.
The online casino industry of UK has registered consistently growing profit margins year after year, regardless of the economic conditions. And a lot of credit for this goes to its effective incorporation of modern-day technologies. With mobile gaming alone a $ 100 billion+ industry today, the technology is definitely driving the growth of UK’s iGaming industry.