UK Setting the Standard for Online GamblingPublished March 15, 2016 by Mike P
It’s been a colossal rise for the UK’s online gambling industry, which now has an esteemed regulator to make it even stronger.
For the 12 months ending September 2014, the UK Gambling Commission revealed that the domestic industry had surpassed £7.1 billion (excluding the National Lottery). That considerable value highlighted how the UK’s gambling industry has evolved to become one of the most important in the world.
Rise of Online Gambling
In looking back, an initial catalyst for change was the dramatic rise in interest for online poker in 2004. After realising the potential for online gambling, the UK introduced the Gambling Act 2005 to allow for gambling operators to have greater advertising opportunities.
Since 2005, online gambling has become a familiar part of everyday life in the UK. From playing video slots or live dealer games to betting in-play or enjoy bingo, there are now numerous sites ready to satisfy every desire. UK gamblers have witnessed greater innovation at an earlier stage than their counterparts in most other countries.
The presence of major operators has driven the industry to pursue new breakthroughs, making it possible for more recent entrants like 188BET Casino, BGO Vegas, and Gaming Club to launch with cutting-edge features. Even a new casino like Spin Princess could provide mobile compatibility from the outset.
UK Gambling Commission Takes Control
During the earlier days, the Gambling Commission did not force UK-facing gambling sites to be licensed in the country. For this reason, many would maintain licences outside of the country in jurisdictions like Gibraltar and Alderney.
However, everything changed in winter 2014 when legislation required for all sites serving UK players to be licensed in the country. By making this change, the Gambling Commission was actually able to create a stronger, more quality-driven marketplace for players, who now have access to better sites.
The Gambling Commission is only concerned with sites operating in the UK. Thus, there is no question of distraction for a regulator that is driven to maintain a competitive marketplace and also provide vital forms of protection to combat problem gambling.