| Last updated: 6:31 PM Wednesday July 23rd 2008 | |  | UK |
|
| | Love at first sight
For centuries, the UK has been a world-leader in most forms of gambling. With everything from bingo to sportsbetting already well developed institutions by the 1960's, the UK was one of the first countries to jump onto the online gambling band-wagon when it first came along. As soon as online gambling became an accessible reality to people around the world (1995, with the launch of Internet Casinos, Inc.), residents of the United Kingdom began venturing into the virtual casino domain. And like with most gambling trends, the UK quickly became one of the fastest growing online gambling nations in the world.
Taking it to the next level
The UK Government has always been very tolerant of gambling due to its inherent presence in British culture. Despite the many restrictions and regulations imposed on gamblers in the UK, the Government's primary goal has always been to improve gambling standards and safety, and allow the industry to develop as a market leader by remaining open to new ideas and trends. This too was the attitude that online gambling received from the UK. Just as the industry began taking shape around the globe, the government-commissioned Review Body, lead by Sir Alan Budd, published a UK Gambling Review Report, in which remote gambling in the UK was thoroughly assessed. The report was legendary in that it encouraged law-makers to legalizes all forms of online gambling. The report also sparked much debate over the issue, which made clear to the government that online gambling was an important issue for many citizens and industries. And miraculously (as opposed to other jurisdictions), the government responded positively by beginning to develop new legislations that would legalize online gambling completely.In 2001, a bill for the legalization of online gambling was passed in the British Channel Islands. For 5 years, the bill was drafted and improved to cover all related aspects offline and offline gambling, including its regulation, protocols for licensing applications, and safety standards to prevent the development of problem gambling in the nation. eCOGRA played a major part in the penning of the UK Gambling Act, and in 2005 it was finally approved. It took 2 years before the Act became enforceable, yet it gave rise to many significant industry competitors, such as the UK Gambling Commission, responsible for the regulation and enforcement of all areas of gambling in the UK. All these forces combines made the UK an owner of the world's most comprehensive online gambling legislation, and a model for other emerging markets.
A lifetime of happiness together
British Ministers were keen to make the UK a "world leader" in online gambling; In July 2006 the Minister of Gambling, Richard Caborn, traveled to Gibraltar to meet with the HQ's of 888 and Party Gaming. The Culture Secretary Tessa Jowell also held an international Summit for politicians to discuss the future regulatory standards of online gambling. The results were overwhelming in all sectors, and 2007 proved to be a successful year before it had even ended. Official reports reveal that more than 3.5 million UK residents were gambling online regularly - a six fold increase in only 5 years! Even more impressive was that British online casino standards had been raised so high, that of the 250 million problem gamblers in the UK, online gamblers facing addiction constituted a mere 7% - the system was thriving!Official reports by the UK Gambling Commission in late 2007 also revealed that British online gamblers are most likely to be middle-aged females (18-34), and that 8.6% of all adults in the UK had tried at least one form of online gambling in the month. In addition, it showed that online gambling via the computer (as opposed to mobile phones and interactive TV) was the most popular platform. More recent studies show that online Bingo has become the latest trend, with the UK the front-runner as the fastest growing online Bingo market. The top payout for online Bingo has even reached nearly $2 million.
It is with no doubt that the UK online gambling market has flourished since its inception, and that its positive and well formulated beginnings have given it a stable basis for future developments. It is therefore not surprising that so many market leaders still turn to the UK for guidance on online gambling standards, innovation and high quality gaming. |
| | |
