The online gambling market is in a high state of flux right now. It’s being pushed around by conflicting forces that make it difficult to predict where it’s heading. We’re going to try, though.
Below, you’ll find our top-3 predictions for the next 6-months. Whether you’re a gambler or online casino owner, I hope you’ll find this article helpful in working out your next move.
Legislation Changes Are Imminent
There’s been a lot of huffing and puffing about online casinos recently. The House of Lords Select Committee published a report recently outlining their proposals for significant changes to the online gambling industry. They aim to reduce problem gambling, which is a good thing because many people struggle with debt as a result of their gambling habits.
We’ve already seen some big changes this year, including the ban on credit card deposits, but there’s more to come. Here are some changes that we expect to see in the following months:
- Minimum Age changed to 18 for online scratchcards on the National Lottery site
- Online Gamblers will have to prove to UK-based online casinos that they can afford to lose money
- Increased ID verification security – this is to address both age requirements AND to minimise the risk of money laundering
- Changes to product design to make gambling less addictive (game developers intentionally make online gambling games more addictive)
Yep, it’s going to be a busy time for online casinos as they try to implement changes and stay compliant with the ever-changing legislation. For gamblers, it’s likely to lead to frustration as they’ll have to jump through more hoops than they’re used to. It’s a far cry from the wild-west of online gambling during the 90s and early 00s.
Some People Might Completely Forget About Online Gambling
That sounds crazy, right? But one important change that’s coming is a change to advertising rules. The UK government is banning gambling advertisement all over the show. Soon, gambling firms won’t be able to advertise in sports stadiums and on sports kits. Even though this rule hasn’t come in yet, sports teams know it’s coming, so when their current sponsorship runs out, they’re not bothering to renew gambling-based sponsorship.
There’ll also be changes to gambling advertising online – some even say they’ll be an outright ban and that’s entirely possible in my opinion.
If there are no gambling adverts, will we start to forget about gambling completely? It’s unlikely, but I’m sure some people will. Without the nudge to go and have a flutter, they won’t even think about it.
There’ll Be a Spike In Online Gambling Over the Next 6-Months
When we first went into lockdown, online gambling spiked. There were probably several reasons for this: escapism, boredom, and more leisure time for some people. Unfortunately, it looks like we’re about to experience round 2, and, with it, I expect there to be a spike in the volume of online gambling. I think this trend will start to become noticeable from the beginning of week 2 in October.
With more people around, there’s more cash in the kitty so that in turn can lead to better rewards. Check out this article for tips on how to take advantage of these spikes when you play the online slots.