One of the biggest entertainment industries of the UK is that of iGaming. Gambling as a whole amassed a total gross gambling yield of £15.1 billion, per the latest figures from the Gambling Commission, but what’s seen a continued uptick within the industry is the online or remote sector, which comprises iGaming.
Here, the gross gambling yield hit £6.5 billion in the latest report, marking a 13.3 per cent increase on the figures reported in the 2019/20 financial year. The UKGC is set to release another report before the end of 2024, in which iGaming is expected to take yet another hefty step forward.
So, what is it about iGaming that’s made it not only popular but a section of very real growth over the last several years, and what external forces could help or potentially hinder further growth?
A Hit Product Given Room to Grow
According to the regulator’s September 2024 figures, slots are not only the dominant force in online casino gaming, but they’re also rising in popularity. The findings relay a 16 per cent year-on-year uptick to £680 million in slot gross gambling yield – a figure that the Gambling Commission says isn’t to be compared to the overall industry figures.
Within that reporting window, the number of spins also increased by 13 per cent to reach a new peak of 23.3 billion. A big part of the slots online UK success is the sensational mechanic of Megaways. Where once there were three rows, five reels, and ten, 243, or even 1,050 paylines, now, there are six or more reels and over 100,000 ways to win.
It all began with Bonanza in 2016, which introduced the mechanic. Importantly for its continued success, its creators (Big Time Gaming) licensed out their impressive creation. This has allowed for many more Megaways to be made much more regularly.
As a lone studio, it would have taken Big Time Gaming decades to come up with the variety now available across the Megaways range, and it’s the range and diversity that’s helped to make the mechanic and online slots so popular.
Looking Ahead in iGaming
Trying to predict the next innovative mechanic to hit it off with players is like trying to predict lottery numbers. Looking at the range of options for a bet casino platforms offer, it’s anyone’s guess what will become the next hit to follow the likes of the live casino, the Megaways mechanic, and fishing features in slots.
What industry onlookers can examine, though, are the external forces that look to enhance or hinder iGaming. The big one is 5G. In the UK, 5G connections are reportedly far worse than in most European countries. It will, inevitably, improve and become more widespread, opening up many options for iGaming developers to explore.
Slots are a huge part of iGaming’s success in the UK, and that’s down to innovators spreading their hit creations to help create the best selection possible for players.
