Gambling is an activity that occurs across the globe, but its cultural, legal, and market trends differ significantly across different regions and countries.
The UK is a hub for gambling thanks to its regulatory framework and historic gambling culture. However, when comparing gambling in the UK to other parts of the world, like Europe and the US, both similarities and contrasts arise.
Gambling in the UK
The United Kingdom is a leader in the gambling industry, known for its regulatory framework and variety of gambling options. Between April 2022 and March 2023, the UK reported a gross gambling yield (GGY) of £15.12 billion, up from £14.08 billion the previous year. The UK is the largest gambling market in Europe.
The UK Gambling Commission (UKGC) oversees the industry, ensuring consumer protection and fair play.
The reason why gambling in the UK is so popular is due to the following:
Tax-free winnings: Unlike many other countries, gambling winnings in the UK are not taxed, making it attractive to bettors for additional tax-free income. Even professional gamblers don’t have to pay taxes on their winnings.
Sports-focused market: Sports betting enjoys a lot of attention in the UK due to the popularity of football, cricket, and horse racing.
High Street betting shops: Betting shops are allowed on high streets, which is not a common sight in Europe and the US. This makes betting accessible to more people.
The most popular forms of gambling are the National Lottery – with over 70% of the adult population partaking – online gambling, and sports betting. Online gambling dominates the UK market, contributing almost half of the GGY. Popular online gambling games include slots and fantasy sports.
Gambling in Europe
Gambling across Europe is as vast as the countries on the content, and regulatory approaches range from open markets to restrictive laws. After the UK, the country with the second largest gross gaming revenue is Germany (£12.01 bn), followed by France (£11.84 bn) and the Netherlands (£3.51 bn).
Although online gambling is growing across the region, land-based gambling remains the main activity in most European countries.
Regulatory frameworks also vary across the region. For example, in Norway Norsk Rikstoto and Norsk Tipping are the only two companies that can offer gambling services to Norwegian citizens, unless they access offshore sites. Norwegian betting sites hosted in foreign jurisdictions offer top odds, special offers, sports markets not found on other platforms, and rewarding bonuses.
Germany, on the other hand, legalized online gambling in July 2021 through the Glücksspielstaatsvertrag (German Interstate Treaty on Gambling) which regulates it across the country. Meanwhile, Sweden and Denmark have opened their markets to international regulators, offering a diverse range of gambling opportunities to citizens.
When it comes to the most popular casino games, roulette is perhaps the most iconic game in European markets.
Gambling in the US
The US gambling market is expanding rapidly after the legalization of sports betting in many states following a Supreme Court ruling in 2018 which legalized betting at a federal level. The US is expected to generate around £19.87 billion ($24.98 bn) in gross gambling revenue by the end of 2024, surpassing the UK.
American football, basketball, and baseball are the main sports betting attractions. Unlike the UK’s preference for football (soccer), the US sports betting market is flourishing due to the NFL, NBA, and MLB.
Online gambling is growing across the US, but it is not as widespread as in the UK because of state legislation. Each state can decide to legalize gambling, resulting in a fragmented market. For example, New Jersey and Pennsylvania have thriving online gambling sectors, while Texas and California still prohibit it.
When it comes to physical casinos, US establishments dwarf their UK counterparts. The UK’s largest casino, The Hippodrome Casino in London has over 100 slot machines, while the Wynn/Encore casino in Las Vegas has more than 1,800.
The most popular casino games in the US include poker, blackjack, and, of course, slots.
Wrapping Up
Gambling in the UK, the rest of Europe, and the US are vastly different in terms of regulation, market trends, and even favourite casino games. The UK has taken a liberal approach, with a focus on growing the online gambling market. This has made it a global leader in the sector.
Europe has varied regulations, offering a mix of opportunities for gamblers but also challenges for those living in countries that restrict casino games and betting. The US is experiencing rapid growth, driven by sports betting and more states legalizing online casinos.
Although these regions differ, they all show a similar trend: the increasing adoption of online platforms and a focus on consumer protection and responsible gambling. Gambling is continuing to evolve across the world, driven by player preferences and regulatory oversight, and it is likely that the UK will continue to drive the charge.
