Online gambling UK: Did pandemic fuel casino revenues? – London Business News | Londonlovesbusiness.com

New data has revealed that the UK is projected to be in the world’s top two online gambling nations in 2024, with estimated revenue of £11.01 billion from online gambling.

Using data sourced from Statista, Japanese Online Casino Guide analysed the projected 2024 online gambling revenue for 61 countries. The countries were then ranked from highest to lowest revenue.

The second highest earning country is the United Kingdom, with projected revenue of $13.78 billion (£11.01 billion) in 2024.

The UK has the second-highest number of gamblers, with 27.9% of the population having gambled online, even though the UK is projected to have the fourth-lowest increase in revenue this year, with a 7.4% increase expected in 2024. It is also estimated that the UK will have the fourth-lowest rate of revenue increase between 2024 and 2028, with a rate of 3.84%.

The United States is projected to make the most revenue from online gambling in 2024, with $23.03 billion (£18.41 billion). This equates to a 20.3% increase in revenue from 2023 to 2024, which is the second-highest increase behind Brazil. Worldwide, the year-over-year revenue change is 12.9%, meaning that US online gambling revenue is growing approximately one and a half times faster than other countries.

Third in the ranking is Australia, with $10.14 billion (£8.11 billion) projected to be made in revenue in 2024. Behind the UK, Australia has the third-highest number of gamblers, with 21.1% of the population having taken part in online gambling. Revenue from online gambling is expected to grow by 10.5% in 2024, and at a rate of 5.12% until 2028.

Japan is in fourth place, with a projected $6.19 billion (£4.95 billion) in revenue from online gambling in 2024. This is a 12.7% increase in revenue from online gambling year-over-year, which is 0.2% under the worldwide average year-over-year revenue change. The revenue is projected to grow at an annual rate of 4.92% between 2024 and 2028, which is under the worldwide average of 6.51%. It is projected that 7.9% of the Japanese population will have gambled online by 2024, and that there will be 11.3 million individuals taking part in online gambling by 2028.

Germany is projected to earn the fifth-highest amount in revenue from online gambling in 2024, with $5.65 billion (£4.52 billion). 10.4% of the population are projected to have gambled online in 2024, which is the fourteenth-highest percentage.

In sixth place is Canada, with $4.19 billion (£3.35 billion) revenue in the online gambling market projected to be made in 2024. Canada has the highest number of online gamblers of all the countries, with 48.6% of the population projected to have gambled online by 2024.

Seventh place goes to France, with $4.12 billion (£3.29 billion) estimated to be made in revenue from online gambling by 2024. With a projected revenue growth of 4.7% between 2024 and 2028, France has the tenth-lowest growth rate.

Italy is in eighth place, with $3.21 billion (£2.57 billion) projected online gambling revenue in 2024. Italy is towards the lower end of the ranking for estimated 2024 year-over-year percentage growth in online gambling revenue, with a 10.1% increase.

In the penultimate spot in the ranking is India, with $2.90 billion (£2.32 billion) in revenue projected for 2024. Despite having one of the highest revenues, India has one of the lowest user percentages, with 0.7% of the population estimated to take part in online gambling in 2024.

Concluding the ranking is Spain, with $1.97 billion (£1.58 billion) revenue from online gambling in 2024. Online gambling revenue in Spain is projected to grow by 11% by the end of 2024, and at a rate of 5.28% between 2024 and 2028.

Emiko Matsuda, Editor-in-chief said, “The surge in online gambling can be attributed to a variety of factors such as the pandemic, which meant many bettors transitioned from wagering on sports to online gambling, and the data suggests that this shift is permanent.”