Game Changer: The Rise of Online Gambling
Online gambling has been increasingly popular in the UK for the past years. Nowadays, the online gambling industry is bigger than ever. Holding 34 percent of the entire UK gambling market they are also considered a significant factor for providing the biggest increase in gambling revenues. According to a report by the UK Gambling Commission (UKGC), Online gambling in the UK totaled £817 million in 2009 and rose to £4.5 billion between April 2016 and March 2017 creating a 10.1 % rise in online gross gaming yield (GGY) over less than 10 years.
There are two factors that paved the way for the rise of online gambling in the United Kingdom: The government-mandated laws that regulate the gambling industry and the continuous innovations in human technology.
Being one of the most heavily regulated gambling industries in the world, UK’s parliament has passed several legislations to control gambling and its effects since the 19th century one of which is the Gambling act 2005 which seeks to control online gambling for the first time. In spite of these, The UK’s government has recently been described as more “relaxed” and “loosened” with regards to implementing such restrictions. The said act also permits gambling companies to advertise on television, radio and all forms of media allowing more access to the masses.