Just recently, a report by the London Economic revealed that the UK sports betting industry was set to hit a record high of £4 Billion within the next few years.
And as if that’s not enough, a recent TGM Research found 35.71% of the country’s population to be involved in sports betting.
If you want to find out why several institutions believe that this industry might continue growing, stick around. Here, we will explore these reasons while highlighting crucial statistical information that will leave you more informed.
The age of digital platforms
At a time when about 81% of customers research online before buying, you don’t want to miss out on the benefits of having an online platform. And in the sports betting industry, brands have been taking advantage of these platforms to reach as many people as possible. But it’s not just about having a platform where punters can bet – you want to ensure their experiences are as engaging as possible.
It’s no wonder that even the best horse racing betting sites are taking advantage of these platforms to stay ahead. Most of them are now focusing on offering punters more realistic experiences like live streaming to keep them engaged. Imagine being able to bet on a platform and still catch the action live without switching to another site. This is an experience almost every punter can love.
Besides that, bookmakers are taking advantage of these platforms to increase their customer acquaintance. By the way, do you actually know that, according to visionpoint.systems, more than seven in ten customers want businesses to understand them more? As punters interact with online platforms, sportsbooks can access information about their betting patterns, preferences, etc.
This allows them to provide more customised recommendations that may encourage return visits. Given that 81% of customers actually love such experiences, we could see bookmakers use personalisation to appeal to them, leading to the industry’s further growth.
A growing need for online safety
With the rising number of cyberattacks, no one wants to compromise their safety, even for a minute. And as much as we attend to our physical security, we also need to pay attention to our online safety. In the UK alone, more than 7.78 million attacks were recorded in 2024.
To put it into more perspective, about half of UK businesses encountered security instances. For any business, including betting companies seeking long-term success, these are not statistics you want to ignore.
Remember, modern users have become more discerning about their online safety and will often examine sites to check whether they have tight security measures. These may include 2FA, SSL encryption and many others. You don’t want to risk losing customers just because you haven’t implemented such secure infrastructures.
And mark you: cyber attacks can cost you up to £3,230 to get back to your feet. To get ahead of all that, sportsbooks are implementing more robust protocols to appeal to security-conscious punters. And if this trend continues, more people could actually join the industry, leading to its further expansion.
The power of payment methods
It may sound very simple, but payment methods can really help an industry advance. In fact, statistics show that effective payment systems can increase retention by anywhere between 15% and 20%. And as if that’s not enough, Testlio suggests that 80% of customers favour seamless payment processes over other e-commerce features.
Realising this, sportsbooks targeting the UK market are working hard to ensure punters have top-notch payment experiences. This adds to the overall customer satisfaction rates, which may encourage as many people as possible to remain loyal.
On top of that, UK sportsbooks are taking advantage of the power of diverse payments to appeal to multiple preferences. According to PYMNTS.com, about 70% of customers will likely choose a brand if it offers their preferred payment method. Because of such statistics, UK betting providers could diversify their methods even more to appeal to these preferences, leading to growth.
From this discussion, it actually makes sense to expect the UK sports betting industry to grow. Bookmakers have become more customer-centric, providing experiences that resemble punters the more. With this trend expected to continue, more punters could join the industry, which may result in the market size hitting £4 Billion.
