In general, Brits have recently started accepting casinos and gambling as a part of their lifestyle. The blooming of online casino business in the UK is attributed to several factors, which include advertising, changing attitudes, ease of accessibility, the technology boom, freebees, higher returns with low stakes, and relaxed gambling laws. London is a home of multimillionaires who have made a large fortune from gambling, and who are also owners of many of these online casinos. Close to ten years ago, gambling laws were reviewed, which opened the door for more people to access them. There was also an increase in accountability and transparency when it came to the online gaming community, which opened the door to everyone.
History of Online Casinos
The blooming of online casino business in the UK stems up from the land based casinos. As the casino and gambling laws were being reviewed, technology was evolving all over the world. A large number of adults have access to online casino facilities, and many people are seeing this as an acceptable recreational activity. Between 2008 and 2014 there was an increase in online gambling from around 9% to 15%.
The Boom in Online Casinos
Despite the increase in participation in online gambling, the turnover has also been on a steady increase. While this was happening, the number of games offered by the online casinos also increased. Traditionally, slots and card games were the major attractions, but today we have a large diversity of games that can be played. This has also been made more attractive by the numerous advertisements that appear on television stations and pop-ups online. Many online casinos are also offering lots off giveaways just to attract people to register with them.In fact, some of these giveaways are not only meant to lure new customers, but also offer platforms for newcomers to train and get a taste of how the game goes. As more players join the casino floor, the revenues are naturally increasing. This has enabled online casinos to lower the stakes and increase the jackpots.
Though the blooming of online casino business in the UK has created many multimillionaires, the future has remained uncertain. This is largely attributable to the fact that lawmakers are discovering and sealing many loopholes. For example, they passed a law where taxes on winnings are supposed to be paid depending on where the customer is, and not where the casino operates. So if the winner is in the UK, it does not matter where the online casino is registered.
On the other hand, the online casinos have surpassed their land-based counterparts due to accessibility. Therefore the trend looks brighter for online casinos as compared to the land based ones.