Posted by Online gaming is a phenomenal industry that is growing at a fast rate thanks to technological innovation like mobile bet site and the growing interest of people from different nations like the Finlands Nettikasinot sector.
Comparing Finland and the UK: Online Casino Habits
According to Grand View Research, the online gaming industry will reach a market capitalization of $127.3 billion by 2027. What is even more impressive is the expected CAGR of 11.5% from this year to the milestone 2027.
Technological innovations like artificial intelligence (AI), virtual reality (VR) and augmented reality (AR) are predicted by experts to play a critical role in helping the online gaming industry hit those numbers.
Online casino statistics in Finland
Finland enjoys online gambling, especially online casinos. Finn’s average spending in a year on gambling includes:
- Spending £350 on domestic gambling.
- Spending £160 on RAY slot games.
- Spending £180 on Veikkaus games.
- Spending £11 on Fintoto games.
The casino industry in Finland has been posting an impressive growth rate of 10 percent every year since 2016. The state-owned casino industry generates massive profits every year for the government.
There are only 16 physical casinos in all of Finland, yet the casino industry generates millions for the government. This is only possible thanks to the remarkable success of the online casino industry.
In 2012 alone, online casino operators in Finland generated a massive £130 million profit. These numbers have grown since then.
Finland’s population is 5.5 million people, but that didn’t stop it from dominating the world charts. According to The Economist, Finland is the fourth-largest gambling country, spending a staggering €2 billion a year. In 2019, the state gambling company Veikkaus’ recorded a huge profit of 1,009.0 million euros.
UK online casino statistics
According to the latest statistics released by the UK Gambling Commission (UKGC), there is a rise in online gaming operators due to their growing popularity. The latest report focuses on game patterns and numbers between October 2018 and September 2019.
The United Kingdom Gambling Commission (UKGC) is the body that regulates gambling in the United Kingdom. According to him, the total gross return from the game for the period between October 2018 and September 2019 was £14.3 billion. The UKGC estimated the total gross return from gambling, excluding lotteries, to be around £10.5 billion in the UK. According to The Economist (2016), the UK is the 10th largest gambling nation in the world.
In the UK, the gaming industry is a rich source of employment for thousands of Britons. UKGC statistics from October to September 2018 estimate that 98,174 employees are working in the UK gaming industry. Compared to what can be achieved in Finland, where there are only a handful of gambling venues, the UKGC reports the number of gambling venues in the UK at 9,745, with the total number of betting shops at 7,315. Not surprisingly, these numbers are down 10% from last year. The popularity of online gambling explains this. The British are not losing interest in gambling, but rather are exploring online means of gambling.
The total gross gaming revenue for gaming machines in the UK is £2.5 billion. The gross game return from remote betting is £2.1 billion, while remote bingo is £198 million. The gross return from the remote casino game is £3.2 billion. Land-based casinos generated a gross gaming return of £1.1 billion.
The most popular form of gambling in the UK is online casino games. According to UKGC, slots account for 69.3% of gross online casino gaming returns, followed by roulette accounting for 13.5% and blackjack accounting for 6.1%. There are also 155 casinos in the UK.
Trends, habits, and culture of online casinos in Finland
The Finns have a rich gaming culture with roughly 80 percent of their population playing the game. This statistic is from the National Institute of Health and Welfare (THL).
The main gaming trend in Finland is online gaming. The vast majority of Finns who gamble do so online. There are only 16 land-based casinos in Finland run by state-owned companies. These numbers are not enough to satisfy the strong gaming culture, hence the focus on online gaming.
Gambling, like in many other countries, has not always been popular. There were times in Finnish history when gambling was banned.
The deep culture of the game owes much to the spirit of nationalism created among the Finns. The gaming industry in Finland, including the online casino itself, is bankrupt by the government. The profits obtained are returned to the Finnish company. The winnings from the game have been used to fight different important causes in Finnish history.
UK Online Casino Trends, Habits and Culture
Online casinos are popular in the UK and account for a large part of gambling winnings. One notable trend worth developing is the rise of esports betting in the UK. Virtual reality, augmented reality, mobile gaming, and cryptocurrencies are also on the rise in the UK online casino market.
Great Britain has a rich gambling culture in online casinos. The United Kingdom Gambling Commission (UKGC) is the body responsible for regulating the industry. It is the private players that dominate the industry.
Comparison of Finnish and UK online casino habits
The main difference is that in the UK, the online casino industry is run by private companies with little interference from the government, while in Finland, the online casino industry is directly controlled by the government. In other metrics such as trends and growth statistics, the online casino industry in both countries shares many similarities.