Why the UK Has Become the Hub of the Gambling Industry

Even those who live inside the UK will perhaps be surprised to hear about just how popular gambling now is in this country, with the fact that online casinos and betting sites are still illegal in other regions across the globe holding them back from competing. As a result, the UK is now viewed by many as the centre of the online gambling industry, something that could not have been predicted even a decade ago.

A number of leading organisations within the industry now base themselves in the UK, while the government also brings in a massive amount of tax revenue thanks to an increase in activity in this area. Other countries are now looking to follow suit by introducing less strict gambling laws, similar to what the UK has done over recent years. Betting shops / betting sites and casinos are prevalent both online and on the high street today, while a huge amount of major events are now sponsored by gambling companies.

Whether you are interested in playing your favourite slot game with an online casino or looking to back your football team to win the cup, there is now almost endless opportunity for punters to gamble. However, just how did we get to this stage and is the UK’s gambling scene to be viewed as a success or failure?

Gambling Regulations in the UK

The UK Government took the somewhat radicle step to deregulate the market, making it easier for gambling companies to operate. Gambling licenses became easier to gain access to, whilst there were also fewer barriers to entry. The UK seemingly issued licenses to as many gambling companies as possible, even those who operated offshore with no access to the money in which they made. Doing so created a hugely competitive marketplace, making it hard to avoid gambling today. Whilst in other countries advertising gambling sites is forbidden, the UK is far more open to the idea. However, brick-and-mortar casinos and bookmakers can still only offer a stipulated number of fixed-odds terminals.

Tax Changes in the UK

Perhaps the biggest change came when the tax paid by players on their gambling winnings was scrapped, meaning that you are now in a position to take home 100% of your earnings, which was not previously the case. As a result, a greater number of people have been attracted to gambling, whilst some even do so professionally. Such factors have certainly helped to add to the popularity of gambling in the UK, while the banning of tabacco advertising has also meant that events and companies have had to look further afield when it comes to finding new sponsorship deals. The gambling industry has certainly stepped up to the plate in this regard.

Why PayPal is Now the Most Popular Banking Method for UK Casino Players

Online casino players have long had a wide range of options when it comes to processing payments, ranging from traditional to more modern-day methods. Today, customers have an almost endless list of payment operators competing for their attention, all offering an efficient process of processing cash in and out of casino platforms. While the likes of VISA and Mastercard are still popular options for players, PayPal is perhaps now the biggest name in the industry in this area. PayPal have an established relationship with the Gambling Commission, meaning that they only work with licensed casinos.

PayPal is an e-wallet platform, with players being able to link their credit and debit cards for quick and easy transactions. Founded back in 1998, PayPal were able to make an impact within the casino industry quicker than most thanks to their relationship with the Gambling Commission, while they flat out refuse to process illegal payments. With recent research finding that nearly half of the British population had gambled within the last month prior to being surveyed, it comes as little surprise that PayPal has become so popular. 71% of participants had a positive view of PayPal, while only 2% had a negative standing. So, just what makes PayPal so good for online casino players? What are the best PayPal casinos?

PayPal is 100% free to use, while it also offers a hugely secure platform for players to take advantage of. At no point will any casino see your financial information, including both credit and debit card account numbers. PayPal is also extremely fast in terms of processing payments, which is true when it comes to both depositing funds and withdrawing winnings with your online casino. The majority of deposits are processed instantly, while withdrawals are often completed in just a matter of hours. Meanwhile, with PayPal now being associated with a huge number of casinos available to UK-based players, many now use the e-wallet as their sole payment method.

In terms of the security measures in which they have in place, PayPal store user data on systems that are not connected to the internet, while all transactions are fully encrypted and kept behind firewalls in a digital vault in which only they can gain access to. However, customers must still ensure that they play their part in ensuring that information is kept safe at all times, which can be achieved in part by maintaining that all software is up to date and not processing transactions using unsecure WiFi connections.

Elsewhere, PayPal has built an excellent reputation thanks to their fast transfers, with many taking just a matter of seconds. Having logged into their individual account, players will often see their cash appear in their casino kitty immediately. A good proportion of online casinos do not charge any additional fees when processing such transactions, however be sure to check with your casino beforehand. Instant cashouts are also readily available using PayPal, however this will depend on your casino’s individual processing times. PayPal is faster than any credit or debit card, along with the majority of other e-wallets.

So, be sure to consider using PayPal to fulfil your online casino payment needs if you have not already, with the positives certainly outweighing the negatives when it comes to this well-known e-wallet platform.