While the online gambling industry is growing, land-based casinos are slowly disappearing. But how come the online gambling industry has grown so popular in the UK, and what does it mean for the future of gambling?
The growing online gambling industry is making it harder and harder for land-based casinos to attract players. This means that in the future, the online casinos may outmatch the traditional casinos, changing the landscape of gambling forever.
Income or entertainment?
To understand why online gambling has grown in popularity, we must understand the UK regulations on gambling. According to businesscloud.co.uk, the UK government changed the tax rules for gambling in the year 2000. Now the winnings are being treated as entertainment and not as income. This means that UK players no longer must pay taxes of their winnings. Instead, the casinos pay taxes every time a player wins money. Although this may seem like a bad deal for the casinos, it works to their benefit. Due to the no taxes regulations, more and more players are signing up at online casinos, which makes up for the losses the casinos may suffer, when paying taxes to the government.
More games, more players
Although the tax law for gambling applies both to online and land-based casinos, there is still an increase of online casino players. In fact, in 2018 online casinos had gained 38% of the gambling revenue, and since then the numbers have only risen, making the gambling industry worth $60 billion which is said to increase to $90 billion in 2025. But why has online gambling grown so popular among players? Today people are used to doing everything online. Technology has infiltrated every aspect of our lives, it is therefore no wonder, online gambling has surpassed the popularity of land-based casinos.
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There are more opportunities online for the players. They can play whichever game they like. All the doors are open on the internet. If you have seen the many gaming opportunities online, you may understand why players prefer online casinos to land-based casinos. It’s as simple as this; more games attract more players. Additionally, most online casinos offer free bonuses to new players, which makes online gambling more tempting than land-based casinos. All of this has created an increase of interest in the online gambling industry. If you want to learn more about different gaming opportunities and online gambling news, you read more here: https://neconnected.co.uk/news/gaming/.
Secure payment methods attract players
We have already established that the technological advances and the free bonuses make online gambling convenient and profitable for both the players and the casinos, but what about security? In the early days of online gambling, many people preferred the traditional casinos, because they had more faith in their security systems. However, now that online gambling has become such a success, the security of payment methods has improved dramatically. Today, it is very safe to play at online casinos, provided you choose a legitimate online casino. At Yggdrasilcasino.com you can find the best and safest online casinos, so you can feel safe when you start playing.