UK gambling set to continue growth through 2022

Independent research specialists Technavio has published the conclusions of its latest UK gambling industry study, covering the period 2018 to 2022 and predicting that the compound annual growth rate (CAGR) will exceed 5 percent over the period.

One of the key factors driving growth is the increased adoption of online platforms for gambling,the report notes. The online gambling sector in the UK has been witnessing substantial growth over the last few years, and in 2017, the online gambling segment accounted for over 35 percent of the entire national gambling market. The segment witnessed an incremental growth of 2 percent between 2015 and 2017.

During the forecast period, the UK regulatory bodies expect the growth to continue. Online gambling and its continued growth at the expense of conventional gambling operations will drive the gambling market in the UK during the forecast period, Technavio analysts claim, highlighting the growing importance of artificial intelligence.

“AI can be used to determine consumer behaviour. This would enable sites to better anticipate players’ needs and figure out what drives them to play, quit, or change games the most. AI can also help intensify computer-opponents. AI is used in the gambling industry to improve customer service. Advanced bots that are replacing customer service representatives can access and analyse knowledge about a customer’s specific playing habits,” says a senior analyst at Technavio.

The UK gambling industry is known for its implementation of emerging consumer trends and innovative technologies, and the most effective operators have facilitated a smooth shift from the physical to the digital world.

The report segments the industry into the following types, betting, lottery, and casino. The betting segment held the largest market share in 2017, accounting for nearly 45 percent of the market and this is expected to increase more than 3 percent by 2022.

See an infographic on the Technavio report here.