Sports Betting Industry in the UK – The Past And the Future

The sports betting industry in Britain has the most developed laws in the international gaming community. The oldest sportsbooks in the world began in the UK, including one which started in the 19th Century. The country’s sports gambling community also produced the world’s first sports betting exchange, where gamblers do not bet against fixed-odds, but instead wager in a betting pool. This is a brief guide to sports betting in the UK that discusses the full British bookmaking market.

The legality of Sports Betting in the UK

Land-based and online sports betting are legal in the United Kingdom. Brick-and-mortar sportsbooks have existed in England for generations. The Betting and Gaming Act of 1960 legalized land-based betting operations. The Gambling Act 2005 placed a new set of regulations on sports betting while establishing the UK Gambling Commission to oversee all forms of betting in the United Kingdom.

Online options

Online sports betting exchanges such as sbobet also accept real money bets from UK punters. The UK sports betting industry remains one of the most competitive sports betting jurisdictions in the world, which is good for UK bettors.

UK Gambling Laws in Scotland, Wales, and N. Ireland

The United Kingdom comprises England, Scotland, Wales, and Northern Ireland, so the gambling laws in one country are the same as in the other three. The UK Gambling Commission controls all online and remote licensing, so online sites operating in all four regions follow the same laws and regulations. Among countries in the British Islands, only the Republic of Ireland has different online sports betting laws. Since it gained independence from the United Kingdom in 1921, the Republic of Ireland has had different gambling laws than the United Kingdom.

Safety Of Online Sports Betting in the Country

The UK Gambling Commission regulates all land-based as well as online sports betting for UK residents, so it is the safest online sports betting jurisdiction in the world. Many of the online sportsbooks are publicly-traded companies on the London Stock Exchange. Both governmental and economic reasons require online sportsbooks in the United Kingdom to provide a safe, secure, and fair gaming environment. All of the best payment methods are allowed in the UK, a premium is put on responsible gaming. Visa, MasterCard, PayPal, Skrill, Neteller, and Bitcoin are all accepted payment methods.

Popular currencies accepted at the UK sports betting sites:

• Bitcoin
• British Pound (GBP)
• US Dollars

Depositing And Withdrawing In The United Kingdom

Players have the full set of deposit and withdrawal options. Many of the payment processing companies originate from the United Kingdom. Those who don’t want to be involved in the UK sports betting industry, so bettors almost always have their first choice when it comes to payment methods.

Sports Betting History in the country

The Betting and Gaming Act of 1960 opened the door to sports betting, casino gaming and off-track betting shops in the United Kingdom. The Gambling Act 2005 amended British land-based, electronic and internet sports betting laws. The 2005 legislation established the UK Gambling Commission, which regulated and supervised top UK online sportsbooks. After introducing new laws, online gambling became fairer, more secure and unavailable to minors by forcing operators to carry out identity verification checks before customers deposit money into their accounts.