British Online Gambling Revenue Climbs by 4% in Q3, Indicating Robust Market Growth

British Gambling Commission Reports 4% Increase in Online Gambling Revenue

The British Gambling Commission, in its recent industry report for the third quarter, has observed a noteworthy 4% rise in online gambling revenue. This data, which reflects the performance of the largest operators representing approximately 80% of the online gambling market, indicates a flourishing sector, particularly in areas such as slots and real event betting.

Record-Breaking Online Slots and Robust Betting Activity

The online Gross Gambling Yield (GGY) for this quarter was estimated at an impressive £1.3 billion, marking a 4% increase compared to the same period last year. This growth is significantly driven by online slots, which generated a GGY of £618 million, up by 6% and setting a new record since the Commission began collecting quarterly data in March 2020 amidst the Covid-19 pandemic.

December was a particularly strong month for real event betting, with the GGY doubling year-on-year to reach £196 million. This increase reflects a robust interest in online betting activities among British consumers.

Slots participation reached a peak in December, with over 4.2 million accounts engaged, a noticeable increase from approximately 3.9 million in December 2022. Although there was a 3% rise in slots sessions exceeding one hour, the average session length saw a decrease, settling at 17 minutes.

Retail Betting and Regulatory Insights

While the online segment showed significant growth, retail betting Gross Gambling Yield (GGY) also saw a modest increase of 0.5%, amounting to £563 million. This occurred despite a 4% decline in bets to £3.3 billion and a 10% decrease in bets on self-service betting terminals (SSBTs).

The Gambling Commission, however, advises caution in making direct comparisons, particularly due to the potential impact of free bets on these figures. The Commission is also scrutinizing the categorization of certain products, a process that may alter data distribution across verticals but is not expected to affect overall totals.

Ongoing Consultations and Future Regulatory Directions

In light of the UK government’s gambling review white paper published in April, the Gambling Commission has launched a second round of consultations. These discussions, spanning 12 weeks until February 21, 2024, focus on five key areas: socially responsible incentives, customer-led tools, transparency in licensee insolvency events, removal of financial contributions requirements to research and treatment bodies (ahead of the proposed mandatory levy on gambling operators), and a shift to quarterly regulatory returns from annual ones.

The Commission’s proactive approach in these consultations aims to foster a safer and more responsible gambling environment while adapting to the evolving dynamics of the UK gambling industry.

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British Gambling Commission Reports 4% Increase in Online Gambling Revenue The British Gambling Commission, in its recent industry report for the third quarter, has observed a noteworthy 4% rise in online gambling revenue. This data, which reflects the performance of the largest operators representing approximately 80% of the online gambling market, indicates a flourishing sector,
The post British Online Gambling Revenue Climbs by 4% in Q3, Indicating Robust Market Growth appeared first on Gamingo News.