Despite the UK going through the worst cost of living crisis for generations, the UK gambling scene is still recording good profit margins.
The owners of UK gambling sites including William Hill, Betfair and Paddy Power have stated that the cost of living crisis is not showing any signs of slowing down UK gamblers’ habits.
London-listed Flutter also adds that its UK revenues fell by four percent year-on-year in the first six months of 2022. The online gambling company 888, have also stated that its UK revenues fell by just a quarter to UK£121 million in the first half of this year.
All of these companies claim that their plunge in revenues comes after them implementing safer gambling initiatives — not the cost of living crisis.
Living costs are spiralling upwards
Now the UK cost of living crisis isn’t something that we are all just imagining. Experts have suggested that if things stay as they are, the UK faces its worst bout of stagflation — low growth and high inflation — since the 1970s.
An article written by UK newspaper The Guardian also reports that UK officials believe that cold weather could combine with gas shortages. This would leave the UK short of power, with the country experiencing blackouts for multiple days in January.
Despite all of these doom-filled predictions, both companies have said that the loss of UK revenues is because of new measures designed to tackle problematic gambling. That’s instead of blaming the slump on this gathering storm.
This raft of new restrictions includes UK£10 limits on slot machine stakes and introducing mandatory deposit limits for all of its customers under the age of 25.
New UK online casino sites for 2022
The UK population’s disposable income has likely taken a hit in 2022. If this continues to be the case then this is likely to be passed on to iGaming companies. This will be a big problem for them as just under half of people living in the UK gamble.
In the UK 46% of the population gambles regularly. When compared to its peers, the 45-54 age group has the most gamblers.
The UK online gambling market receiving what can only be described as collateral damage. The question that we are all asking, is if investing in the UK gambling market still worth a shot?
Well some brave investors seem to think so anyway. Below is a list of some of the latest online casinos to be launched in the UK in 2022.
Due to the wide range of online casinos on the market, comparative websites that direct gamblers to the best casinos are increasingly popular. One comparison page is Casinomir. This particular site aims to becoming the world’s leading provider of high quality iGaming leads.
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The casinos that Casinomir works with must have a UK, Malta or Curacao casino license. In addition to possessing the correct license, the casino must reach also meet a certain standard when it comes to its platform. This includes the number and quality of casino games, customer support, variety of payment options and mobile functionality.
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Disclaimer: This article contains sponsored marketing content. It is intended for promotional purposes and should not be considered as an endorsement or recommendation by our website. Readers are encouraged to conduct their own research and exercise their own judgment before making any decisions based on the information provided in this article.
