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Gambling Revenues Grow in the UK

The online gambling market in the UK continues to grow based on the results of a recent PricewaterhouseCoopers (PwC) report, with minimal gains in 2010 likely followed by much stronger growth through 2015.

The online gambling market in the UK continues to grow based on the results of a recent  PricewaterhouseCoopers (PwC) report, with minimal gains in 2010 likely followed by much stronger growth through 2015.

PwC pegs the current online UK casinos market at about $1.2 billion in revenues per year, making it the largest legalized online gambling market in the world today.

This growth comes despite a global recession that has seen other industries suffer mightily; the recession-proof nature of gambling has helped online gambling continue to grow, as some gamblers simply shift from more expensive trips to brick-and-mortar casinos to playing online instead.

PwC partner David Trunkfield said that casino and online gaming revenue in the UK will likely benefit from 16 new casinos planned to be opened in 2012, which will likely spur growth through 2015.

PwC also predicted that worldwide gambling revenues would rise by nearly 10% per year until 2015, growing from $117 billion in revenues in 2010 to about $183 billion in 2015.

Asia (and Macau in particularly) has been responsible for much of the gains in gambling, with casinos opening in Macau, Singapore, and other areas for the first time and producing substantial revenues as more and and more Asian players embrace casinos in their own backyards (instead of traveling to Las Vegas and other destinations as was the case before).

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