The UK Gambling Commission has published profit figures for the gambling industry from March to June 2024. These figures not only provide insight into the industry’s current performance but also signal a continued upward trend in gambling interest, fuelled by both financial and technological factors.
The figures put forward by the UK Gambling Commission show that the online total Gross Gambling Yield (GGY) for Q1 (April to June) was £1.46 billion ($1.87 billion). It’s a 12 percent increase from the previous year’s Q1.
It’s worth noting that this data covers only the increase in fiat-based betting. With cryptocurrencies increasingly popular on sites like those reviewed by CCN, a large portion of wagers is made this way. Almost anyone can buy Bitcoin with a credit card, and the popularity of cryptos is surging while these transactions often go untracked in traditional betting statistics.
Diving deeper, gambling profits remain the primary revenue stream for casinos, though they profit through various avenues. The Commission has also compiled data on total bets to clarify these income sources. Year-over-year, the total number of bets and spins surged by 11 percent, marking a new high for the second consecutive quarter at 24.5 billion. Active user numbers are climbing as well, up about 9 percent from last year.
Profits from betting on real-world events saw a notable increase, growing by 17 percent, while the actual number of individual bets in this category dropped by 7 percent. This suggests that while fewer bets are being placed, the wager amounts are higher. Sports events remain the top choice for these wagers, though players can also bet on other outcomes—ranging from political elections to celebrity news, like guessing the gender of a baby. Recently, betting on real events has gained significant traction.
Slots are the most popular casino game played in the UK, not counting betting on sports events. Gross gambling yields for online slots increased by 10 percent, reaching £642 million ($802.24 million), with individual spins also climbing by 12 percent. Sessions lasting over an hour rose by 8 percent year-on-year, totalling 9.6 million, though the average session length remains steady at 17 minutes. Notably, only 6 percent of sessions now extend beyond an hour, marking the lowest percentage recorded to date.
The UK gambling industry shows no signs of slowing, with gross gambling yield up 12 percent in Q1 2024-25. This growth is bolstered by increases in both the number of bets and active user participation, underscoring the robust and expanding nature of the market—particularly in the online sector.
Interest in betting on real events is rising, as players place fewer bets but with larger stakes. Slots also remain popular, with a noticeable uptick in longer gaming sessions. Looking forward, the UK gambling market seems set to keep expanding, fueled by strong financial trends, sustained player interest, and ongoing technological advancements.
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