Sports betting and online casinos are two of the most popular forms of recreational gambling in the UK and Ireland. But how does their gross profit look on a country-by-country basis? To help answer this question, we’ve compiled some helpful statistics, which we hope you find useful.
History of Sports Betting in Ireland
The first version of the Gambling Act, which regulated the taxes of retail bookies in Ireland, was signed in 1931. In 1956, the Gaming and Lotteries Act was passed, enabling sports betting and lotteries in Ireland but prohibiting casinos. Due to flaws in the 1956 Betting Act, a new update was required, culminating in the 2013 Bill. Operators were required to have a license from that point forward, regardless of whether they had an actual location or were completely remote.
Popular Sports in Ireland That Are Attracting Sports Betting
Simply put, Irish punters are uninterested in football when it comes to betting. They enjoy football, but it is Gaelic football that they prefer. Gaelic football is also the country’s national sport. It is responsible for a third of Ireland’s online sports betting revenue. Hurling is also a big sport in Ireland, accounting for 25% of all sporting event attendance. According to some bookmakers, there are times when hurling and Gaelic football are pretty close in terms of market share.
During championships, though, Gaelic football always comes out on top. Although Ireland has a strong national squad, which has recently won World and European Championships, football is only ranked third. Rugby and horse racing are two more sports that have grown considerably in Ireland, with both attracting large crowds to stadiums during live events. This equates to a sizable number of bettors at online bookies or physical gambling shops.
Online Sports Betting Data in Ireland
Despite its small populace, Ireland’s total gaming revenue rivals countries with significantly larger populations. In 2017, a sum of €6.2 billion was recorded in revenue from all types of gambling, whether offline or online. Gaelic football is not the sport that attracts most internet bookmakers’ customers. Horse racing is by far the biggest game in terms of betting volume, accounting for more than 70% of all bets placed by the Irish punters in the previous year. Soccer is the second most popular sport, accounting for 31% of all wagers, followed by golf and Gaelic football, with 15% and 23%, respectively.
The Benefits of Playing Online
Playing online is now the big thing – it is a field every player is venturing into. As a player, you stand to reap plenty of benefits from playing online. One of the perks that stand out is the no deposit bonus in Ireland online casinos. It allows you to play risk-free, without depositing your own real money. So be sure to browse the perfect bonus, before you signup and deposit anything. Additionally, you can also enjoy the following benefits – play anywhere and at any time, have access to plenty of free games, and enjoy a safer gaming environment.
The Growth of Gambling in Ireland
Gambling is a major business in Ireland, and it’s nearly become a way of life. The annual market value is projected to be roughly €1.1 billion. Private members clubs and casinos are expected to account for 65 million euros, gaming machines for €134 million, bingo for €8 million, lotteries for €310 million, and land-based betting for €315 million. Online gambling is one aspect that has led to the sector’s expansion. This was not lawful in Ireland till 2015. Although it’s difficult to measure, the internet gambling sector is supposed to be worth roughly €220 million.
The government will receive a significant amount of revenue due to the levy on turnover. Because of the growth of betting, some firms are considering converting bars into entertainment arcades. Nevertheless, major players have noted that their clients appear to be turning to online betting, which has garnered more revenue for them than their land-based counterparts.
Despite objections from a few of the country’s largest gambling companies, the hike in betting taxes could benefit Ireland, with the capacity to create twice as much income as before. The betting levy on exchange profits has also been raised to 20% from the previous 15%. This is expected to produce an additional €40 million. That is fantastic news for a country whose GDP has already grown six times quicker than the Eu average. And it could expand much faster resulting from the adjustments.
iGaming Statistics in Ireland
The mobile category has risen dramatically since 2003, per the researchers’ statistics. This year’s earnings for the sector are expected to reach €25.2 billion. Furthermore, we should emphasize that mobile gaming currently holds a 42.6 percent stake in the business. For the past five years, this metric has had a consistent upward trend.
It’s worth noting that the fastest-growing segment of mobile betting is sports betting rather than online casinos. Most market operators claim that mobile betting currently accounts for most of their revenue. Sports betting is currently the most popular field, with a 66 percent indicator. The lottery sector accounts for only 7% of the total, whereas online casinos account for 27%. As per the information shown above, the industry’s key trend is people switching from bookies to online casino providers and the increasing growth of online slots. We’ll have to wait and see if this pattern continues in the coming months, especially if the containment measures are lifted.
Sports Betting and iGaming in the UK
For 2020-2021, the UK treasury received £2.83 billion in tax revenue. The figure was much higher in 2019-2020, totaling £3.02 billion, and has generally remained consistent before totaling £2.6 billion. The United Kingdom Gambling Commission make sure that revenues are evenly allocated between both the physical and internet gambling markets. Nevertheless, online gambling bears a greater share of the overall economy’s tax burden, accounting for 38.8% of total income since 2018.
There are numerous reasons for the online sector becoming more economically reliable. For one thing, offline businesses can simply avoid paying taxes. Second, whereas the offline industry requires more employees, online businesses have reduced labor costs and ongoing operating expenses. That makes taxation a lot easier to deal with.
The UK government recently increased the value-added tax to 21% from the previous 15%, which impacted many land-based gaming businesses but had little impact on the internet sector. Furthermore, the United Kingdom Gambling Commission designated betting as a form of recreation, implying that the providers, not the gamers, are the ones who are liable for taxation. When the UK Gaming Commission extended its authority in 2015, most online gambling sites shut down, but the other operators would have no problem complying with the stiffer restrictions. They attributed this to the growing popularity of risk games, particularly in the convenience of the internet setting.
iGaming Statistics in the UK
The most recent provisional statistics on betting and gaming duties (April 2021 to September 2021) shows that the interim year-to-date sum for gambling and gaming revenues (April to September) is £1,456 million, up £112 million (8.3%) from the same time the previous fiscal year-to-date. The various steps adopted by the United Kingdom’s government in responding to the coronavirus epidemic, which led to the closure of several gambling facilities beginning April 2020, have affected some betting and gaming duties, as indicated by decreased receipts in the prior fiscal year-to-date. RGD accounts for almost a third (34.5%) of the interim year-to-date gaming and betting receipts, up from 13.1 percent in April to September 2016 and increasing each year during the preceding six financial years.
Sports betting and iGaming are yet to reach their fullest potential in the UK and Ireland. However, they are the backbone of the economies, not just of the nations, but also of other countries where sports betting is embraced.
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