iGaming Expected To Boom With Bitcoin Casinos UK
September 6, 2016
Setting up a Bitcoin casino UK is quickly becoming a good idea as the UK gambling market opens up towards the cryptocurrency. It also helps that UK market has developed into a fertile field for potential gambling operators. There are several reasons now is the right time to invest in a UK online casino operation.
Comparable to New Jersey
Currently, the state of New Jersey and the UK are in talks about sharing liquidity for online gaming. Considering that the two are the most regulated gaming markets in the world, this should be good news.
Right now the UK represents around 10 percent of the entire European online casino market, which is currently valued at $15 billion. Past reports have shown that online casinos operating in Europe has grown by 10 percent annually. The UK has around more than two million individual online gamblers, out of the 18 million European online gambling accounts in total.
New Jersey, on the other hand, has a thriving online gaming market. With revenues approaching $200 million in 2016 alone, it has exploded from last year’s $150 million. New Jersey holds more than 90 percent of the regulated US online gambling market in 2015. With this year’s prospective development, the state’s portion of the online gambling market will further increase.
With both the UK and New Jersey combining forces, they will have a significant piece of the global online gambling pie. With an estimated value of $37 billion and a projected growth of 11 percent per year, the online gambling scene is on its way up and the partnership between the UK and New Jersey can only mean positive results.
Both markets have matured greatly since they started out. New Jersey’s gambling experience started in the 1970s, when Atlantic City began opening legal casinos, with online casinos being legalized in 2013. On the other hand, the UK opened its doors to online gambling in 2007. Since then, online gambling has become a popular pastime in the country.
There are some differences, though. The UK allows online sports betting, while New Jersey does not compete with Las Vegas. Poker is also another difference since the US is pretty strict about it. Despite these differences, both the UK and New Jersey will benefit greatly from a closer associated.
More accepting regulations
Besides the accepting atmosphere, the UK has also become more in tune with Bitcoin. Recent changes by the UK Gambling Commission have resulted in the cryptocurrency being considered as a legal means of transaction. As the UKGC further investigates how to properly integrate future technologies in their regulations, people can expect more changes that will make it easier to play in the digital realm, especially in UK Bitcoin sportsbooks and casinos from now on.