GGY Increased in the Last Three Years

By John Isaac,
Editor at online-gambling.com

John Isaac Editor at online-gambling.com

John Isaac is an editor with many years of experience in the gambling industry. He writes expert articles on card games like blackjack and poker. In addition, he is also well aware of the US gambling laws and the Indian and Dutch gambling markets. You can rely on verified information and insightful details.

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Last updated: June 24, 2023

Despite the country’s economic difficulties, consumers’ urge to gamble or wager on sports is still quite strong. The UK Gambling Commission (UKGC) has revealed statistics that show the gross gaming yield (GGY) has steadily increased over the last three years. These results disprove the idea that greater gambling activity always results in increased gambling damage. This article gives a summary of the UKGC’s study and looks at the effects of the expanding gambling market in the country.

Highlights from the UKGC Report: Between March 2020 and March 2023, the data from operators was used to construct the UKGC report, which reveals a steady increase in gaming and betting activity. It is significant to highlight that the data only reflects around 80% of the market, as several operators did not fully provide information on their performance. Despite this drawback, the report nevertheless provides insightful information.

Increase in Gambling Spending: From January to March of this year, online GGY increased by 5% year over year to ￡1.3 billion ($1.63 billion). The “total bets and/or spins” increased by 9%, while the average number of active accounts increased by 11%, both of which contributed to this expansion. In this area, “real event” betting brought in ￡555 million ($697.24 million) in the same time frame, a significant 13% rise year over year.

UKGC Warns: Report Offers Partial View

Although at a slower rate, online slot activity also increased. A GGY of ￡552 million ($693.47 million) was recorded by licensed operators, which is a little 2% increase from 2021. With an average of 3.9 million every month, the number of virtual spins increased by 9%, and there was a notable 15% increase in active accounts. Although the average session length stayed at 17 minutes, the UKGC saw a 10% rise in slot sessions lasting over an hour.

The amount of money wagered on land-based gaming by authorized operators increased by 6% to ￡585 million ($734.93 million). This number represents a 2% increase in the overall number of bets and spins and only applies to sports wagers and slot machine games.

Unaccounted Factors and Future Considerations: The UKGC warns that, despite the report’s insightful nature, it only presents a partial view and should not be directly compared to the “industry statistics dataset.” This restriction results from the unavailability of data from some operators as well as the lack of breakdown about operator input on free bets or promos.

The UKGC admits the need to reconsider how it classifies some items, which might cause a change in future reports. The reasons for this categorization, however, are still unknown, and it is unclear what effect it will have in the long run on historical statistics.

UKGC Is Confident About Its Regulatory Strategy

The UKGC nevertheless expressed confidence in its regulatory strategy, pointing to the benefits of laws put in place two years ago. These rules, which forbade autoplay and limited betting limits in the online slot market, were put in place to lessen the negative effects of excessive gaming.

Despite financial limitations, the gambling sector in the UK is nevertheless thriving. The UKGC’s most recent report shows that gambling and betting activities are consistently growing, with online platforms driving the increasing trend. The industry has also steadily recovered from the Covid-19 pandemic. The research emphasizes the tenacity and allure of the UK gaming sector despite its lack of thorough data and potential modifications in subsequent editions. The UKGC is steadfast in its commitment to overseeing and policing the sector to ensure that gambling damage is kept to a minimum and that customers may gamble in safety and enjoyment.