It won’t be wrong to describe the U.K. as the land of online gambling. Unlike many other countries, the term gambling is a common pastime and most the big players in the industry are licensed by U.K G.C. (United Kingdom Gambling Commission). The gambling commission of Gibraltar, a British Overseas Territory is the proud house of multiple online casino brands including Betvictor, Bet365 and many more.
Online Gambling After Brexit
The aftermath of Brexit has had an ill effect on currencies, causing the British pound to fall to its lowest level in decades. The online gambling stocks took a blow as well. Talks on whether the U.K. can still remain the epicenter of online gambling industry or not, is still under to be known. There resilience that the online gambling industry has shown cannot be doubted, but factors affecting the economy inherently impact the industry. Investment giant Morgan Stanley has said that long-term health of the UK online gambling industry will be in the best shape in the coming years. But, there could be some setbacks. Online players should play the games at the reputed site to increase the winnings. With a registration at poker online site, different benefits are delivered to the players. The use of the tips is there after checking the ratings and reviews of the table. The selection is made with complete research in the market or platform.
“While lower consumer spending and a possible recession would reduce growth rates, we would expect continued market growth for online in a mild consumer recession” said an analyst.
For a few there might be pressure as the growth rates would not be as expected. The Brexit may stress out the unemployment rate and it can dent consumer confidence as well. The only thing that brings a smile back to the fraternity’s face is the concrete legal structure of online casinos.
Will Brexit cause a domino effect? This is debatable as the current trend is showing a lot of volatility. It is a complicated situation right now as the ball may not land where everyone expects it to. The current regime is a stable one, but it is too early to jump to any conclusion. The affiliates are going to feel the pinch as they accept GBP which is of lower value.
There are so many variables which are constantly fluctuating, and it is a hard task to predict the near future, but clearly the Brexit’s affect on currency, unemployment and stock prices has been felt by the industry. We don’t think the ill effects will last too long as a rebound in the U.K. economy is very likely due to its underlying strength.