The online betting industry is booming and a lot of credit for the same to today’s technology, people from anywhere in the world are exposed to place their bets online. The UK has always been one of the biggest gambling markets around the world. In 2018, UK’s gross gambling yield already reached over 14 billion dollars and many have thought that it will be smooth sailing for the country’s gambling sector for a long time. However, the popularity of gambling in the UK also poses a great risk to its locals.\
This is why the UK Gambling Commission is starting to step up and implement stricter rules. Meanwhile, in India, even if local online gambling operations are restricted, Indian bettors are still free to place their bets offshore. Sports betting is quickly becoming popular in India as it is a country that loves sports like cricket. The locals would be searching for the top IPL betting app reviews to find offshore bookies where they can place their bets and UK gambling operators are usually their go-to.
Knowing that the UK has started implementing some harsher rules, gambling companies are starting to prepare for the worst. While the market is still huge in the UK, they are starting to slowly shift their focus in going to countries like India, as it has a larger market. India’s population is one of the biggest worldwide with over 1.3 billion people. Around 700 million of the population are exposed to the internet and this number is expected to rise to go up to 974 million by 2025.
It is estimated that India has over 420 million mobile internet users and this means a lot to many gambling companies. For a long time now, we’ve been hearing that mobile is the future of the gambling industry and where the mobile market is huge, these gambling companies will surely get involved. Indians love sports and gambling. Sports betting is doing well in India but casino games are also becoming more popular too.
Online gambling has almost no regulation in India, but the locals are still running illegal online, offshore casinos and bookies are still free to offer their services to the locals as long as they accept Indian Rupees as a mode of payment.
With that, it’s easy to understand why many gambling companies are eying India as the next biggest gambling market. The UK Gambling Commission may seem like it is starting to become frenemies with the UK gambling operators. However, the UKGC just really wants to make sure that the locals are safely gambling. It is hoping to lessen the risks that gambling comes with since it is a common activity in the country.
In 2020, the UKGC has banned the use of credit cards in any gambling activities. When lockdowns were implemented in the UK, the UKGC was also made aware that online gambling activities have spiked up. Because of this, they required the online operators to keep track or check on their customers who have been gambling for over an hour a day.
Recently, another rule is designed to ensure the safety of online casino players. They will also now require operators to display the total wins and losses of a player. It can be expected to be implemented before October 31, 2021. The UKGC said that they are aiming to address the concern over slot games online as it accounts for 70 percent of the gambling activities in the UK. Reverse withdrawals can be expected to be banned soon.
The gambling commission is also looking into banning gambling companies from sponsoring the shirts of the football and darts players in the UK. However, this may be resisted by not only the gambling companies but also the sports clubs themselves as they have always heavily relied on sponsorship income.