UK iGambling Sector Dominates Industry in 2017

UK iGambling Sector Dominates Industry in 2017 In November, the UK Gambling Commission (UKGC) released its latest report covering the period from April 2016 to March 2017, with the industry generating a whopping £13.7 billion over the 12 months, up by 1.5% year-on-year.
One of the biggest revelations of the report, however, was that the country’s online gambling segment has now grown to command a 34% share of the market worth a staggering £4.7 billion, and also representing a 10.1% improvement compared to the prior-year. Leading this important vertical was online casinos with £2.6 billion in GGY, followed by sports betting with £1.9 billion. Online poker, on the other hand, continued its slide downwards and produced a mere £101 million throughout the year.
Meanwhile, the online gambling sector’s success was not mirrored in the UK’s other gambling sectors which noted an overall drop in GGY. The number of bookmakers, for instance, declined by 3.9% over the period, while on-course wagering fell by £29.9 million and off-course by a further £1.6 million. Licensed arcades, too, declined by 5.1% in their numbers, while the total number of people employed by the UK gambling industry dropped by 1% to 106,236.
Even The National Lottery, which hiked the price of a ticket from £1 to £2 a few years back, saw its GGY contract by £438 million. As a result, the amount of money going towards good causes has now plummeted to just £1.5 billion, marking its lowest level since 2010.
Another important point the report highlighted was the growing need to protect people from an overexposure to gambling advertisements, with the UK’s regulator recently announcing a review of fixed odds betting terminal (FOBT). The UKGC has also warned gambling operator to do a better job of regulating themselves or else face the prospect of having harsh penalties imposed on them, or even having their licenses revoked all together. As UKGC Executive Director Tim Miller subsequently explained:
“We would urge all gambling businesses to be acutely aware that as their market grows so too will our focus on ensuring that consumers are protected.”

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