- UK online casinos forecast to generate $6.468 billion in revenue in 2024, surpassing USA’s $6.29 billion
- UK has higher user penetration (17.4%) and ARPU than the US (9.4%), which offsets smaller population
- The rise of non-GamStop casinos offers flexibility but poses regulatory and safety risks.
In a surprising turn of events, 2024 revenue forecasts from Statista predict that the UK’s online casino market will generate more revenue than the same sector in the USA.
The data projects that the UK’s online casinos will generate $6.468 billion for the British economy, compared to $6.29 billion for the US.
This development underscores a significant shift in the global online gambling landscape, driven by higher user penetration and average revenue per user (ARPU) in the UK.
Why the UK online casino sector is outpacing that of the US
Despite the United States having a population five times larger than the United Kingdom, the UK has managed to outpace the US in the online casino sector.
One key factor is the user penetration rate, which stands at 17.4% in the UK, significantly higher than the US’s 9.4%. This means a larger proportion of the UK population engages in online gambling, contributing to higher revenue.
Furthermore, the ARPU for online casinos in the UK is more than double that of the US. This disparity highlights the intense engagement and spending habits of UK online gamblers.
With an ARPU of approximately $0.63k in the UK compared to $380.50 in the US, it is clear that UK players are investing more heavily in their online gambling experiences.
The cultural acceptance and deep-rooted history of gambling in the UK also play a crucial role in these numbers. The UK has a long-standing tradition of gambling, from betting on horse races to the national lottery.
According to YouGov’s Global Gambling Profiles data, about 49% of UK online gamblers spend more than £5 on fantasy sports and sports bets monthly. Additionally, 25% of online gamblers in the UK opt for slot machines, while 17% choose casino games, and 18% prefer bingo.
Moreover, the convenience of online gambling has significantly contributed to its popularity in the UK. The COVID-19 pandemic accelerated the shift towards online platforms as traditional sports events faced restrictions.
Even as these events returned to normal, the allure of online gambling, with…