Sports and betting companies are inextricably linked. As the likes of the IPL and English Premier League have boosted their revenues, remote wagering companies have done the same. Currently, the market for the latter is valued at over £50 billion, with revenues expected to hit more than £90 billion by 2023. The entire gambling sector, including digital and in-store wagers, could reach half a trillion pounds within two years. It’s clear that betting is big business worldwide. However, the UK is leading the way as, according to UKTN, the gross revenues for the remote sector account for one-third of the total market. This is a significant proportion, which asks the question – why do UK betting businesses lead the way?
A sporting event is only one example of the offerings provided to UK customers. For years, gambling companies have been branching out in a bid to differentiate their products and services. The use of online casinos is a prime example, with this section of the market pulling in £3.2 billion in gross gambling yield per year thanks to people’s love for gaming and the demand for smartphones and mobile devices and engagement platforms like scr888 to experience their passion. However, wagering organizations in the United Kingdom didn’t stop there as they also turned non-traditional gambling events into betting opportunities. The latest sports personality odds prove this beyond any doubt since: while related to sports, the contenders are from different areas and are competing for what is really a non-sporting award. This year, for example, you’ve got F1 driver Lewis Hamilton topping the odds, with footballer Marcus Rashford not far behind him. Third in the runnings is pro boxer Tyson Fury, with odds of 6/1. The fact that an average of seven million people tune in yearly only adds to the demand.
The world of eSports is officially on the radar of UK betting establishments. For example, eSport Insider points out that 5% to 10% of total betting volumes for betting businesses come via eSports. As a result, online gambling in this arena is now of the fastest-growing markets, with total wagers estimated to be around £7 billion in 2019, leading to yearly revenues of almost £1bn. Still, while UK companies have transitioned into new sectors, they haven’t left their bases behind. For instance, 10 out of the 20 clubs in the Premier League have wagering sponsors on their shirts, earning them £349.1m per year. Gambling companies must speculate to accumulate, yet the state of the industry proves it is money well spent.
Investments and offerings don’t mean anything if customers lack the ability to use products and services, and the betting market is no exception. However, UK enterprises don’t have to worry too much because the region’s infrastructure is considered one of the best in the world. The current download speed rankings put the UK in the top 15% with mean rates of 22.37 Mbps. Plus, 5G is being rolled out across the union and is available in more than 100 towns and cities. Considering fifth-gen software is 20 Gbps and 100+ Mbps more powerful than 4G, this gives UK betting businesses an advantage because customers get a reliable and robust connection that positively impacts the user experience.
UK companies lead the way in online gambling due to a mixture of quality infrastructure, sports investment and market differentiation. However, the firms will need to continue growing because several international competitors are snapping at their heels.
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