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Iceni Magazine | August 16, 2022

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How much do Brits spend on Sports Betting?

How much do Brits spend on Sports Betting?

The online sports betting industry continues to boom all over the world and the amount of money people spend on betting is also increasing.

Whilst winning money is always front and centre of everyone’s plans when sports betting, inevitably there is a cost associated with it and there are sure to be some bumps in the road along the way.

Few sayings are as pertinent in the UK as ‘you never see a poor bookmaker’ and whilst we all look to make plenty of money through online sports betting, the harsh reality is we lose plenty of bets along the way too.

Consequently, British punters spend millions of pounds per year with sportsbooks as they look to win significant sums of cash and the risk/reward is something all bettors have to cost off in their heads.

While some people do find themselves genuinely struggling with addiction, many have been deemed to have a problem yet in reality do not. However, betting on football without gamstop is entirely possible and a way around an unlawful addition.

Reduce Your Spending with Bookmaker Offers

Reducing the amount of money punters spend when betting is hugely useful for punters as they look to maximise their potential profits.

All of the major bookmakers in the UK give out enticing free bet promotions to their punters – for both new and existing customers.

Offers from UK bookies range from free bet tokens when you create an account or matched bet bonuses on every deposit.

Regardless of which type of bookmaker offer you opt for; every offer can be hugely useful for players – no matter what the betting balance is.

Always be sure to read the full terms and conditions attached to every bookmaker offer in order to maximise any potential winnings and avoid any nasties in the small print.

Look for Value

Whilst the potential winnings associated with every bet can often lure punters in, the likelihood of winning on every stake placed is near enough impossible.

The best bets placed often toe the line perfectly between value and risk and avoiding chasing the extra few pounds can have big rewards.

Of course, winning big money is the ultimate goal of every punter but keeping the bank balance ticking over with frequent, smaller wins can hugely benefit punters.

Every bookmaker is different in the odds they offer and seeking out the best possible odds on every bet can be a time consuming exercise but also, a hugely profitable one.

How much do Brits actually spend on sports betting?

Winning money through sports betting is aspirational for all of us but it was estimated that £14 billion was spent by British punters in the UK in 2018.

This figure is testament to the importance of sports betting in the UK and the popularity of the vocation within British society.

With emerging markets popping up all the time, punters have never had more options when it comes to the sports betting opportunities available to them.

And with more and more sportsbooks hitting the marketplace too, British punters are expected to surpass £20 billion in spending in the next 5 years – indicating the humungous size of the industry.

Best UK Sports to Bet On

As the historical home of many sports, the UK has a vast range of sports for punters to bet on and the sporting calendar is packed, even as COVID 19 continues to grip the country.

Football betting continues to dominate the landscape in the UK, with hundreds of professional and semi-professional games to bet on daily.

Horse and greyhound racing also takes place every 10 minutes in the UK and the influx of in-play bets has seen the market grow.

Other sports such as cricket, rugby, tennis, darts and golf continue to present multiple opportunities for British punters to bet on, with value to be found in every market.

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