As studies reveal that the online gambling industry is set to continue to rise over the next few years, we’ll take a look at all the statistics, and how the UK compares to others around the world.
UK gambling market at a glance
One of the big global players in the iGaming market is the UK. In the UK, there is a wide range of games available online, mobile devices, and tablets, that are consistently being developed and innovated. For example, if a user signed up for online casino betting at Paddy Power, they could choose from a vast range of slots, Slingo, live roulette, bingo, and blackjack games. In addition, there are poker rooms, as well as daily jackpot options and bonus levels.
Due to this diverse choice, it is estimated that 24.7 million people in the UK partake in iGaming – over 40% of the population – showing an increase of 6.2% from the previous year. Overall, this has led to annual revenue of £3.2 billion GBP and has created almost 10,000 jobs in the last year alone. This makes the market crucial for overall economic growth in the country.
How does the UK market compare globally?
Perhaps the main competitor to the UK for the top spot is the US. Similarly, online gambling is critical to overall revenue in the US, too. In fact, the US is predicted to generate the most revenue in the global online gambling market in 2023, reaching an estimated $19,140 million USD.
Though the gambling market in Ghana is by no means as large as those in the UK and the US, the rapidly growing market is not showing any signs of easing up. In 2023, the revenue generated by online gambling in Ghana is expected to hit $51 million USD, according to market insights from Statista
Source: Pixabay
The study also reveals that the average revenue per user (ARPU) is estimated to be around $289.40 USD (₵3,250.64 GHS) in 2023. If this is to take the same trajectory as overall revenue growth, this indicates that ARPU might increase to roughly $391.54 USD (₵4,397.91 GHS) by 2027. Despite this significant increase, the ARPU in the UK still comes out on top, which is estimated to be around £554.11 (₵7,975.31 GHS) ARPU in 2023. As, according to Indeed, the average salary in the UK is £38,600 (₵555,484.93 GHS) per year, this means that the average Brit spends over 1.4% of their annual earnings on this form of entertainment.
So, what does this mean? Overall, although Ghana’s online gambling industry is on the rise, the UK and the US are still the biggest global players in the industry – the UK especially when comparing audience penetration and ARPU. By keeping this status as a top dog in this market, this injects money into the UK’s economy, as the trend steadily continues its upward trajectory.
