The online gambling scene in the UK is burgeoning as more and more operators attract punters.
Latest data from the Gambling Commision shows online total Gross Gambling Yield (GGY) in Quarter 4 (January to March) was £1.3 billion, an increase of 5 percent from Quarter 4 the previous year. The overall number of total bets and/or spins increased 9 percent year-on-year, whilst the average monthly active accounts increased 11 percent.
In a speech to the parliament in April, Culture Secretary Lucy Frazer said: “Gambling is a hugely popular pastime and one that has been a part of British life for centuries.
“Ours has always been a freedom-loving democracy where people are entitled to spend their money how they please and where they please.
“And millions choose to spend some of their hard-earned money on the odd bet on a match or a race without any problems,” she added.
“This popularity has seen our betting companies balloon in size and become big contributors to both our economy, and in the taxes they provide to our public services.
“But, with the advent of the smartphone, gambling has been transformed.”
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This year has been particularly robust for online casinos, thanks to real event betting like the
Cheltenham festival. Real event betting GGY increased 13 percent year-on-year to £555 million, with total bets and actives also increasing, 19 percent and 9 percent respectively for the vertical, according to statistics from the Gambling Commission.
Slot machines have been popular too – Slots GGY increased 2 percent to £552 million between Quarter 4 2021 to 2022 and Quarter 4 2022 to 2023. The number of spins increased 9 percent, while the average monthly active accounts increased 15 percent to 3.9 million per month during the same timeframe the number of online slots sessions lasting longer than an hour increased by 10 percent year-on-year to 8.8 million.
The average session length remained at 17 minutes for the fourth quarter in a row, with approximately 6.4 percent of all sessions lasting more than one hour.
Online casinos’ popularity is consistently increasing as a multitude of operators and regulators address security and fraud issues.
The government is also preparing a white paper to make gambling safer and better.
Proposals put forth aim to build on “our strong track record of acting in punters interests”, according to Frazer.
Measures will include cutting stakes on Fixed Odds Betting Terminals in 2019, banning credit card gambling in 2020, reforming online VIP schemes in 2020, introducing new limits to make online slots safer in 2021 and upgrading rules on identifying and intervening to protect people showing signs of harm online in 2022.
“The online world has transformed so many parts of life – and gambling is no exception. It’s our responsibility to make sure our rules and regulations keep up with the real world, so that we can protect the most vulnerable while also allowing everyone else to enjoy gambling without harm,” the Culture Secretary added.
Please play responsibly. For more information and advice visit https://www.begambleaware.org