The online gambling industry is prosperous in the U.K., because they are able to offer bets and offer odds on all political or sports contest in the world. That means there are few limits on what a gambler can win cash on. That leads us to the current political season which is in full swing with important political contests occurring in Scotland, Northern Ireland and Wales, political gamblers have a lot to consider in the near future. Unlike the United States, there are very few restrictions on political gambling in the U.K. That makes the political contests interesting to the average citizen for more than one reason.
One of the reasons the U.K. is such a great place for gambling now is that Brits can gamble on everything from referendums in their home country to the outcome of Donald Trump’s next primary in the U.S. this election year. Using gambling websites, it can be done from the comfort of their own home. It is estimated the British citizens have already spent millions of dollars gambling on outcomes of U.S. Presidential elections.
They are allowed to bet on almost anything taking place anywhere in the world for whatever stakes they can afford, due to their ultra-liberal gambling laws. Some are claiming that when it comes to pure entertainment and profit share, nothing quite compares to the gambling market that focuses on the political arena.
The U.K. Gambling Act was passed as law in 2005. It was designed to rein in online gambling sources under one law umbrella of the federal government. The idea was to regulate the online industry and prevent minors under 18 from gambling. Since this time the industry has absolutely thrived, with betting on sports accounting for about $700 billion to $1 trillion in profits per year. This was according to a report done by the BBC in 2013.
Political gambling has filled a void and does more than simply provide payouts for winners. They have become a relatively reliable source for predicting the outcomes of political issues in the U.K. Some news sites currently list the odds of an election on the gambling sites, along with political polls. The political betting has become popular with the more educated crowd and leads to more secure bets and they can’t be affected by an injury or poor coaching. Having knowledge of the political systems of the world and how they work could provide a major pay off. This is betting that is much more relevant to life and seems to be easier for many people to predict the outcome. Skill and knowledge are much more relevant than luck in these types of wagers.
There is no doubt that online betting shops that offer political bets are going to be a continued part of the future in the U.K. It is not really a bad thing and in fact, may bring more interest into paying attention to current events around the world. There are bets available for who will be the next prime minister to which political party will hold the most seats in the future.