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New Online Casinos: Are They Outpacing Other Online Business Start-Ups?

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Throughout the 21st century, the online business landscape has experienced exponential growth, as innovators and entrepreneurs set up camp to serve a truly global customer base.

One sector that’s stood out for its rapid growth in the last couple of decades is the iGaming industry.

With the digitalisation of entertainment, including casino gameplay, businesses are flocking to capitalise on an immersive market that’s bringing authentic gaming to the devices and screens of players anywhere with a reliable internet connection.

What is the size of the UK iGaming market today?

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According to the latest figures from Statista.com, the UK’s iGaming market is expected to be worth £10.83 billion by the end of this year. It’s also projected to continue its expansion at a compound annual growth rate of 3.91% to 2028, reaching £12.63 billion by the end of that year. With the number of active iGamers in the UK expected to hit 20.6 million by 2028, you might be wondering whether the number of new online casino brands is far outpacing the number of new businesses in other growth industries.

It’s not that easy to find the newest iGaming brands in the UK market, since many opt to keep a low profile when they embark on soft launches. Nevertheless, there are comparison portals like Bonus-Codes.com which list new casinos entering the UK-licensed market. They don’t just review the new arrivals, but they also list the bonus codes available to first-time players.



Although there are new iGaming brands appearing every month in the UK, the reality is that the marketplace is experiencing something of a convergence rather than an expansion.

Is market convergence the order of the day for UK iGaming brands?

According to figures from multicurrency payment platform Xace.io, the number of licensed iGaming operators in the UK reached 2,819 in 2018. That figure declined to 2,419 licensed operators by the end of 2022. That’s despite the UK’s iGaming market continuing to grow and drive increased betting volumes.

The only legitimate explanation for this is market consolidation. It’s not easy for new iGaming brands to compete with well-established names in the industry. That’s why many established iGaming giants look to acquire smaller, lesser-known brands to build a network of iGaming platforms and diversify their own risks.

The implementation of the UK government’s gambling whitepaper by the UK Gambling Commission (UKGC) is also in the offing, which may tighten the regulatory environment and increasingly make sense for operators to merge and de-risk their services.

It’s also important to compare the growth rate of iGaming brands with other online businesses. Ecommerce is the undeniable powerhouse of the online business landscape. In the UK alone, the Ecommerce industry is projected to hit a CAGR of 8.4% between 2023 and 2027, buoyed by rising average order values. Underlying technology like Shopify and Amazon now makes it easier for entrepreneurs and high-street retailers to scale their operations online too.

It’s a similar story in the worlds of Fintech and Software as a Service (SaaS) too, which experience a raft of new entrants into their respective markets with one goal in mind: to disrupt and innovate. The UK iGaming industry has enjoyed favourable market conditions for the last 15 years and this, coupled with the raft of technological advancements in iGaming such as HTML5 and live dealer technology, means it’ll remain a key part of Britain’s online entertainment mix.

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