London Sports Betting: Things You Should Know

There’s no question that sports betting is among the most exciting forms of gambling there is. Especially when you’re a staunch sports enthusiast, the anticipation for every game would really rise to the highest level. That’s probably why sports betting continues to be relevant amidst the rise of other forms of entertainment.

One of the places where sports betting is very popular is in London, United Kingdom. The UK estimated a total gambling population of 2.1 million, and London holds the biggest chunk of it. In fact, they have estimated the online sports betting market at roughly £650 million and recorded a Compounding Annual Growth Rate (CAGR) from 2009-2012 of about 7%.

Gambling laws in London

London’s sports betting law is dependent on the United Kingdom’s Gambling Act of 2005.

UK’s gambling laws, just like in any other country, aimed to regulate the gambling industry and provide clear-cut rules and regulations in the industry, so they can also go after illegal gambling operators.

One of the objectives of their gambling laws is to protect the welfare of their citizens, most especially, children and vulnerable adults. That’s why they have a minimum gambling age of 18 years old, as well as self-exclusion options for the adults who can’t control their gambling or those who are suffering from addiction.

As outlined in the Gambling Act of 2005, those who violate their laws and commit gambling illegally can face penalties that range from being fined £1,000 (for the least offense) to being imprisoned for 51 weeks and/or a fine of £5,000. 

The common offenses include gambling or employing underage, any forms of cheating at gambling, building unpermitted gambling facilities, and creating a machine available for use without permission.

On the other hand, it’s also worth noting that the rules may vary depending on the kinds of gambling – whether it’s for arcades, betting, bingo, play at $2 deposit casino, lotteries, or gaming machines. See some sport books on Fliptroniks.

Sports betting in the UK 

In general, sports betting is legal and regulated in the United Kingdom, including online sportsbooks. A popular option is seo gambling.

London is considered the largest individual betting market in the UK, with an estimate of 9 million bettors. Hence, Londoners are usually the patrons of various sportsbooks, whether online or land-based bookies.

For online gambling, there are about 500 sites that legally operate in the country, including the big names in the industry like Betway, BetOnline, and Paddy Power. In addition, there are also several hundred betting sites not on Gamstop available to players in the UK, which are in no way inferior to local providers in terms of offers. In fact, the UK is known to be among the major players when it comes to mobile and online sports betting and still continues to provide punters with the best offer on odds.

For physical bookies, there are about 9,000 betting shops in the UK. The number has continued to grow over the years until their operations temporarily stopped during the Covid-19 pandemic lockdowns. However, the market is now slowly recovering with the restrictions relaxing.

Most popular sports

Soccer is the most popular sport among punters, followed by horse racing, then other sports like tennis and cricket.

The United Kingdom’s Gross Gaming Yield appears to be £786 million ($968.46 million) wagered on football alone. No wonder why football seasons are a massive source of revenue for UK football bookies. Among the most sought-after football leagues including the English Premier League, the Union of European Football Associations (UEFA), and the World Cup.

Horse racing is also a popular sport among punters. The country has about 60 licensed horse racing tracks which account for 28.4% of all bets in the market. Also, tennis has enjoyed popularity especially because of how easy it is to bet live or in-play. Another reason is that the world’s preeminent tennis tournament Wimbleton is hosted in London.

Meanwhile, as mentioned earlier the gambling laws of the United Kingdom prioritize the welfare of their citizens, that’s why they have self-exclusion options for gamblers who are suffering from addictions – and one which is GAMSTOP.

GAMSTOP

GAMSTOP will help you manage or stop your gambling activities by restricting or blocking you from any gambling activities if you decide to do so. All you have to do is to sign up for the service for free, and voila! You will no longer access apps or sites run by various companies permitted in the UK. Though the inaccessibility is not permanent, you can still decide the period you don’t want to play.

However, this self-exclusion service is only available for online gambling sites and does not include land-based casinos.

While sports betting, or gambling as a whole, is still a taboo topic for some countries, it is looked forward to in the United Kingdom, especially in London. While gambling is never an issue in this country, you may want to learn more about the gambling laws so you’ll always practice gambling legally and not find yourself conflicting with the law.