The UK Gambling Commission’s latest report reveals a robust 12% increase in online gross gambling yield (GGY) which includes all forms of internet-based gambling such as casino sites for Q1 24-25 (April-June 2024), reaching £1.46 billion.
This growth marks the second consecutive quarter of unprecedented betting volumes, highlighting a buoyant online gambling landscape.
Key Highlights from the Report:
- Significant Online GGY Growth: Online GGY climbed to £1.46 billion, up 12% from the previous year.
- Record Bets and Spins: Total bets and spins surged to 24.5 billion, an 11% increase year-on-year.
- Sports Betting Flourishes: The GGY for sports betting rose by 16% to £625 million, even with a 7% drop in the number of bets.
- Rise in Active Betting Accounts: Active sports betting accounts increased by 11%, indicating ongoing interest.
- Consistent Slots Performance: Gross yield from online slots reached £642 million, a 10% increase, with spins rising by 12% to 22.4 billion.
The report also notes an increase in online slots sessions lasting over an hour, up by 8% to 9.6 million. The average session duration held steady at 17 minutes, with about 6% of all sessions exceeding one hour.
New Government Challenges with the Booming Gambling Industry
The new Labour government has appointed Baroness Fiona Twycross as the UK’s first minister for gambling, within the Department for Culture, Media and Sport. This strategic move underscores a commitment to manage and regulate the gambling sector’s growth effectively.
Baroness Twycross will report directly to Lisa Nandy, Secretary of State for Culture, Media, and Sport. The DCMS ministerial team also includes Sir Chris Bryant, Minister for Creative Industries, Arts, and Tourism, and Stephanie Peacock, Minister for Sport, Media, Civil Society, and Youth. This team will navigate the burgeoning gambling landscape.
In her new role, Twycross expressed excitement about her appointment on her X (formerly Twitter) account.
Her proactive stance suggests a collaborative approach to maximising the sector’s potential while enforcing regulations to protect consumers.
Overall, the 12% increase in online GGY not only showcases a thriving online gambling environment but also sets the stage for further industry evolution under enhanced regulatory oversight.
