The gambling industry in the United Kingdom is on the rise according to recent data published by the Gambling Commission’s regular industry figures, undergoing a double-digit increase over its previous reporting basis.
Financial spread betting, foreign exchange (FX), and contracts-for-difference (CFDs) are all prevalent in the UK market, however the gambling industry has managed to establish itself as a sizable component and destination of UK funds. The Gambling Commission’s most recent industry data reports combine previous results from its research on consumer participation in gambling in the UK.
Looking closer at the data provided to the commission by licensed operators, the total gross gambling yield for the UK between October 2014 – September 2015 came in at $16.9 billion (£12.6 billion). This compares with a figure of just $15.0 billion (£11.2 billion) in the period between April 2014 – March 2015, or a jump of 12.5%.
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In addition, approximately 29% or £3.6 billion of the gambling market share is now relegated to online betting, bingo and casinos. Growth in this realm does remain steady however, which was largely stagnant over the first five months’ worth of online data published back in November 2015. One explanation for this could be a series of laws that were passed in the UK that meant the online sector was regulated by the Gambling Commission under a point of consumption regime.
Moreover, figures for the National Lottery in the UK (October 2014 – September 2015) notched an increase of 2.1% from £1.67 billion during the period between April 2014 – March 2015. The number of betting shops over this period decreased by 1.9% compared to 8,975 from 8,809.
According to Programme Director James Green in a recent statement on the data: “For the first time the figures include almost a full year’s worth of data relating to online gambling operators – the market share of the online betting, bingo and casino sector is 29% and we’ll be interested to see how this varies over time. Offline we’re seeing changes. For instance, there’s been a reduction in the number of betting shops, arcades and bingo halls in the last two years.”
“Market trends and consumer participation research are key to shaping the Commission’s regulatory policy to keep gambling in Britain safe for consumers, fair, and crime-free,” he added.