The Ongoing Expansion of Gambling Markets in the UK and US

Gambling's Surge in Popularity: Analyzing the UK and US Sectors, Their Favored Games, and Revenue Growth

The UK boasts over 900 online gambling platforms, reaching more than 9,000 when counting brick-and-mortar locations. With over 6,000 betting shops, recent reports indicate that approximately 44% of British adults participated in gambling within the last month.

Across the pond, the US is home to more than 2,000 casinos, sportsbooks, and gambling establishments. This sector has seen significant growth since 2018 when a Supreme Court decision allowed states to individually decide on the legality of gambling, particularly in sports.

Now, over 30 US states have opted to legalize gambling to the delight of both the industry and state treasuries, as they receive substantial tax contributions from gambling activities.

July 2024 was a landmark for New Jersey's gaming industry, with revenues hitting $547.8 million, marking the highest July in over ten years. The gaming sector saw figures of $195.4 million, a substantial 25.9% increase from the same period a year prior. Year-to-date, total revenues have reached $1.33 billion, a notable jump of 22% over 2023.

New Jersey's sports betting sector is also thriving, with July's gross revenue topping $80 million, a 31.2% rise over last year. For the first seven months of this year, totals reached $653.1 million, 30.1% higher than the previous year, reports NJ.bet, an essential online resource for gambling enthusiasts in Garden State . In July, New Jersey collected a staggering $1.325 billion in gambling taxes, with discussions underway regarding potential tax hikes.

Football reigns supreme in the UK betting scene, with the English Premier League drawing substantial interest from punters. Betting sites offer odds not only for the Premier League but other domestic competitions as well.

UK sportsbooks also give bettors odds on matches across global leagues. Beyond top-tier games, there's a strong demand for betting on youth and reserve matches.

UK gamblers have a keen interest in horse racing, tennis, rugby union, and rugby league. Online sportsbooks also feature 24/7 virtual sports, offering betting options on football, horse and greyhound races, and motorsport events.

Between April and June 2024, the UK's online gambling sector reported a total gross gambling yield (GGY) of £1.46 billion, representing a 12% increase compared to the previous year's Q1.

A record total of 24.5 billion bets or spins was achieved, marking this as the second consecutive quarter of record-breaking figures.

As highlighted before, football betting is a favorite among UK punters. The Euro 2024 tournament led to an 11% increase in average monthly active accounts as fans engaged in betting during the event.

In online casinos, slot games maintain their popularity, with Q1 slot GGY rising by 10% to £642 million. Players logged a record 22.4 billion spins, 12% more than the previous year, and an 8% rise in one-hour or longer slot sessions.

American gamblers have a keen interest in specific sports. The kickoff of the NFL season is particularly exciting for gambling firms, given the substantial revenue drawn from American Football, especially in states like New Jersey.

The Super Bowl stands as a colossal event—it's not just about the spectacle and its global audience; New Jersey saw $141.6 million wagered on this year's event, a 30% surge from the previous year.

Basketball is another crowd favorite in the US betting scene, with heightened activity during the NBA season. March Madness, featuring top college basketball games, adds to bettors' enthusiasm.

Baseball and horse racing are favored sports among American bettors, with growing interest in tennis and golf.

Both the UK and US gambling sectors face future challenges. The UK is looking at potentially stricter regulations, like more in-depth affordability checks. Meanwhile, the US faces worries about increased tax rates, despite existing regulations to prevent underage gambling. restrictions on advertising At WhichBookie, we aim to offer the best daily content and promotions, and it's important to note we do earn from certain links on this webpage.