Gambling is one of the most exciting forms of entertainment, mainly because real money is involved. Before, you will find land-based casinos are jam-packed with people who want to try their luck at gambling. Who knows? They might hit that jackpot and instantly become a millionaire. Land-based casinos are loud, full of boisterous laughter, and people addicted to gambling. But when the Coronavirus Pandemic began, gambling establishments needed to temporarily close down so people would stop visiting casinos that are always full. 2020 was the worst year for the gambling industry, thanks to the decline of players in land-based casinos.
It’s a good thing that the internet is already easily accessible to everyone in Great Britain because those who have personal computers or smartphones can conveniently gamble online through Online Casinos. One of these online casinos is Casimboo, which you can check out at https://www.casimboo.com/. No wonder online casino owners and bosses of UK’s gambling giants earned £4.9billion in total over the last year alone. These are all their earnings and are often given in dividends. It’s all thanks to the pandemic, which forced gamblers to visit online gambling websites instead of going out of their homes. Millions of bettors are using British online gambling casinos to gamble while they are stuck at home.
The Boom of Online Gambling in the United Kingdom
Who knew that the internet and gambling could be such a fine pair? Once the pandemic forced billions of people to stay inside their homes, online gambling boomed and catapulted the UK gambling stock market to a new height. Because of that, the owners and executives of these British online gambling platforms became richer than before, adding millions to their personal wealth. But this is not happening only in the UK. The United States is also using these platforms, especially when the recent legalization of online sports betting has unleashed sports fans all over the USA.
The rise of online gambling paved the way for these tons of big online gambling websites in the UK to be a necessity. It has proved to be very useful for those who choose not to go out. Today, even with the lockdowns lifted in some parts of the world, people are still gambling online because they are used to it now. It’s more convenient and accessible than going to a land-based casino. That’s why so many gambling establishments are also riding the waves and are creating online gambling websites with expert gaming technology that can entice both new and old-time gamblers. Even high rollers will want to try it out!
Meet the Big Bosses of Online Gambling in the UK
Flutter is a listed betting stock that owns Paddy Power and Betfair, and Entain that owns Ladbrokes, has risen over 70% since the start of the year 2020. Denise Coates and her family, which owns Bet365 and isn’t listed on the stock market, was valued at £6.5billion over a year ago. Now, it has risen iN value and is worth more than £10billion since the pandemic. It added more than £10billion to the wealth of Denise Coates’ family. And since Bet365 is a private company that doesn’t have to reveal its inner workings, it’s hard to come up with a precise valuation.
There are accounts that show Bet365 made over £800million of profits from January to April of 2020 after the £607million salaries paid to senior managers were already deducted. The founder and co-chief executive, Denise Coates, gained £469million in earnings and dividends in 2019-2020. But she isn’t the only one who became an instant billionaire due to the gambling boom. Brother’s Fred and Peter Done, who owns Betfred, are also beneficiaries of the rise in online gambling. As you can see, the pandemic helped the online gambling industry tremendously. It was a blessing in disguise for some business owners, such as these big bosses of the UK’s online casinos.