The UK Would Make A Great I-Gaming PartnerUK Online Betting Market Dwarfs That Of US Right Now |
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The US state of New Jersey and the United Kingdom are currently in early stage talks to share liquidity for online gaming in the near future. Both are among the most regulated gambling markets in the world.
The UK represented around 10 percent of the entire European online casino market ($15 billion) as of a few years ago, according to research from Deloitte. Growth for online casinos there has been more than 10 percent annually. The number of unique online gamblers in the UK was estimated at more than two million, out of 18 million online gambling accounts in total. The number of online gamblers in the UK is also nearly a third of the entire number in the EU.
The entire population of New Jersey is roughly nine million.
New Jersey’s online gaming market will approach $200 million in 2016, up from roughly $150 million last year. New Jersey had more than 90 percent of the regulated US online gambling market in 2015, a portion of the pie that will only increase this year.
To put everything into a broader context, the global online gambling market is estimated at $37 billion, with around 11-percent annual growth.
New Jersey represents the best casino comparison in the UK because of the maturity of both markets. New Jersey was the second state in America with full-fledged casinos when Atlantic City began opening them in the 1970s. It legalized online casinos in 2013.
The UK has arguably been the world leader in online gaming since a favorable law went into effect in 2007. Since then, online gaming is as popular as any other type of gambling in the UK when you factor in frequency. It’s also growing faster than any other type of gambling.
The UK does online sports betting, while New Jersey does not. However, several online poker platforms do business in both jurisdictions, making it so peer-to-peer poker would benefit greatly from the arrangement if both governments figure out how to make it work.
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