Gambling and sports betting have become a popular pastime for millions of players in the United Kingdom (UK). Hundreds of millions of pounds are betted on sports events and national lottery across the country every week.
According to a recent report, the total amount that players spend on gambling in the UK is about £14 billion per year. The figure is expected to grow continuously in the figure. Most of them are spent on national lottery tickets and scratch cards.
Meanwhile, sports betting accounts for about 7% of a total £14 billion figure, equivalent to over £900 million per year. The figure is increasing every single year and has reached a spike during the Coronavirus disease 2019 (COVID-19).
Due to the social distancing and lockdown rules, sports events have been impacted significantly. Many spectators and sports fans have spent some of their money that they normally spend on going to the stadiums on placing bets on the games instead.
The gambling and sports betting industry is expected to continue growing, not as the COVID-19 related restrictions continue, but more and more people enjoy the fun of placing the wagers. Most players spend a small amount of money on stake wagers and consider sports betting as a way to make the tournaments more fun and maybe earn some extra.
This makes sports betting become a competitor against lotteries and scratch cards in the UK gambling market. This sector makes up half of the money spent on gambling every year. As a result, bookmakers are interested in expanding into this sector and have millions of people place a pound or two on a football event instead of on a lottery ticket.
In the UK, sports betting is one of the fastest-growing sectors in the gambling industry. With many different ways to place bets on games and the convenience of sports betting websites, it is easy to know why many people are keen on placing a bet on their favorite games.