The UK offline and online gaming industry seems to be rebounding after several years of rather sluggish growth, with a growing number of millennials expressing more interest in the industry, especially that of online gambling. Although online gamblers have traditionally been younger than offline gamblers, the group is experiencing steady growth, resulting in a need for the industry – and the British government – to do what it takes to align itself with this growing millennial base in order to become sustainable.
How Can the Government Help?
With both offline and online gaming becoming increasingly more popular especially amongst millennials, there is definitely more opportunity arising for entrepreneurs to start businesses in the industry. Online bingo sites, slots games, and even online casinos are becoming increasingly more frequented as the craze of online gambling grows in popularity. Due to this, more and more internet entrepreneurs are starting up companies either in the industry or directly related to it, for example gaming affiliate companies. With small businesses benefitting the economy, this demand for business could well mean that more and more entrepreneurs are turning their business ideas into solid fruition. But, even an online company needs some start-up capital, which is where the government could step in to assist with loans and grants
Does the Gaming Industry Help the Economy?
There is no doubt that the gaming industry is good for the economy
. With a number of British gaming companies – both offline and online – being hugely popular with players and gamblers of all ages, taxes derived from this industry are going a long way. With both online and offline gaming becoming more and more in demand, the government can certainly benefit from giving back to the online and offline gaming industries, as rapid growth means more money paid back in taxes, which can then be used for national expenses. With the industry allowing for the birth and growth of a number of new small businesses, there is a lot to be said for the positive impact of both online and offline gaming on the British economy.
Online Gaming and Young Adults
Studies show that the number of young adults between the ages of 18 to 34 are on the rise when it comes to online gaming and gambling. Whilst traditional, bricks-and-mortar casinos tend to be more frequented by the middle-aged, online casinos tend to attract more of the younger generation. With traditional casino games, bingo, slots games and more
all available on many of the UK’s most popular online gambling sites, it’s no surprise that the industry is doing more to attract younger players who can play from the comfort of their own home from a smartphone or tablet device. With mobile gaming growing at a rapid rate of around 10% per year, there is definitely a large demand for online and mobile gaming platforms.
How do you think that the British government could help the online and offline gaming industries out? We’d love to hear your views – join the discussion in the comments below!