UK's Second 2023 Quarter Shows Gross Gambling Growth
LISTEN TO THIS ARTICLE:The United Kingdom gambling market experienced an online gross gambling yield increase of 0.6% up to £1.2 billion in Q2 2023-24, according to the latest local gambling industry report released by the UK Gambling Commission.
Covering July 2023 to September 2023, the report provides a comprehensive breakdown of online and physical gambling revenues, active customer accounts, and sector-specific activity data.
UK Gambling Market Trends
While total bets and/or spins rose 10% compared to the same period last year, average monthly active accounts also increased by 7%.
The UK Sports betting market recorded a gross gambling yield of £428m, a decline of 5% year-on-year. Additionally, sports bets decreased by 1%, while active sports betting accounts reduced by 0.2%.
For slots, gross gambling revenue was £589 million, up 8% year-on-year. The number of spins increased by 11%, and average monthly active accounts rose 11% to 3.8 million.
According to UKGC's report, there was a 4% increase in online slot sessions that last longer than an hour year-on-year. Despite this, the average session length decreased to 17 minutes, and approximately 7% of all online slot sessions extended beyond an hour.
During the fiscal period, licensed betting operators (LBOs) recorded a GGY decrease to £539 million.
The latest UK gambling statistics and trends indicate that the online gambling sector now contributes around 40% of annual gross gambling yields.
Seven New Commissioners
The report comes hot on the heels of the appointment of seven Commissioners to the Gambling Commission by the UK Secretary of State.
Charles Counsell, Helen Dodds, Sheree Howard, and Claudia Mortimore were appointed for terms of five years. On the other hand, Lloydette Bai-Marrow, Helen Philips, and David Rossington will serve four-year terms.
The new appointees assumed their positions on September 11.
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