UK Online Gambling Market Worth $1.4 Billion
According to figures released by the United Kingdom's Gambling Commission, the nation's online gambling market generated over $1.4 billion in revenue in 2008. The numbers were compiled using reports from a number of government agencies, as well as regulatory reports submitted by online casino operators.The combined efforts of the entire UK gaming industry created profits of more than $15 billion, with betting and gambling totals by patrons equalling $134 billion. Almost a quarter of the totals came from the National Lottery.
The Gambling Commission also noted that licensed online gambling sites increased from 300 to 328. Sports betting sites comprise a majority of licensees.
The commission observed that the majority of gaming sites are based and regulated overseas, a fact attributed by many gambling analysts to the high taxation applied to domestic operators. The uneven business conditions have led several prominent operators, such as William Hill, to plan basing operations in other jurisdictions.
Online gambling in the UK, which includes casino, bingo, sports betting, and poker sites, supported 7800 jobs. Over 6 million player accounts were active in the UK.
