Gambling Market in UK 2015-2019
Gambling premises include betting shops for betting on activities such as horse racing, football, and others; casinos; bingo clubs; and arcades. Betting is also done on machines, which are classified as category B1, B2, B3, B4, C, and D gaming machines. Gambling has become a major commercial gaming activity with many countries legalizing it and granting permission to set up casinos and other gambling joints. In addition, gambling contributes to the GDP of a country and helps the economy.
Technavio's analysts forecast the revenue of the gambling market in the UK to grow at a CAGR of 5.28% over the period 2014-2019.
Covered in this Report
The report covers the present scenario and the growth prospects of the gambling market in the UK for the period 2015-2019. To calculate the market size, the report takes into account the GGY generated from four market segments: betting, remote gambling, lottery, and gaming. The report considers the revenue generated by land-based gambling premises as well as from remote gambling in all the segments. In addition, the report discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by the vendors and the market at large, as well as the key trends emerging in the market.
Technavio's report, Gambling Market in UK 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the landscape of the gambling market in the UK and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Gambling Market in the UK 2015-2019
Technavio recognizes the following companies as the key players in the Gambling Market in the UK: Betfred Group, Gala Coral Group, Ladbrokes and William Hill
Other Prominent Vendors in the market are: Camelot Group, Genting UK, Paddy Power, Rank Group and Sportech
Commenting on the report, an analyst from Technavio’s team said: “Gambling has traditionally been dominated by the male population but now participants include women, young people, and the older population. This change in demographics is because of the change in perception about gambling. Apart from the core gambling activities, augmented product offerings such as amusement parks, gaming zones for children, and extension in tourist attractions made by vendors is another factor enabling the change in participant demographics in the gambling market in the UK. Gambling used to be considered as a wrong practice by a majority of people, but the rise in government involvement and rapidly changing regulations of gambling have changed people's perception. Hence, gambling is now accepted as a leisure or fun activity rather than an activity into which people get lured and ultimately end up losing their wealth. In the UK, women comprise more than 50% of the gambling population.”
According to the report, the gambling market in the UK enables the players to use virtual money, which has reduced the burden and risk of carrying cash. Payment options through virtual currency and online real cash transactions through payment portals are already implemented where the winning amount can be distributed as virtual money, which can then be used to play other games or redeemed for cash. This also helps vendors in tracking the spending history of customers. Another advantage that it offers is that of scalability as it can be implemented to handle a large gambling population. This would also give vendors the opportunity to create customized marketing plans.Further, the report states that stringent tax regulations are expected to affect the market during the forecast period.
Betfred Group, Gala Coral Group, Ladbrokes, William Hill, Camelot Group, Genting UK, Paddy Power, Rank Group, Sportech