The United Kingdom Gambling Commission (UKGC) has reported a notable increase in the country’s gambling industry performance for the second quarter of 2024. Recent data indicates the total gross gambling yield (GGY) rose more than 10% year-on-year, reflecting growth in the UK’s online and some retail gambling sectors.
Between April and June, the robust performance was largely due to record online gambling and betting associated with high-profile sporting events like Euro 2024.
Online Gambling Drives Record Growth
A major reason for the rise in GGY was the online gambling sector. It increased by about 12% each year, reaching £1.46 billion. Online gambling continues to attract a substantial player base, with slots remaining the most lucrative vertical. The GGY from online slots alone hit £642 million, up 10% compared to the same period in 2023
Slots continued to attract UK players. The number of spins increased by 12%, reaching a record 24.5 billion spins during Q2.
Operators reported 13.3 million active accounts in online slots this quarter. This shows a 10.8% increase from last year. Improved digital engagement, largely through mobile platforms, likely helped attract new players. It also encouraged regular users to play more often
Impact of Euro 2024 on Real Event Betting
Real event betting also recorded strong gains, bolstered by heightened activity around Euro 2024. Football’s European Championship, hosted in Germany, drew high engagement from bettors, who placed significant wagers on game outcomes, team performance, and player achievements. Real event betting GGY grew by 16% to £625 million, setting a new high for this segment. Monthly figures show that June, coinciding with the tournament’s kickoff, saw the highest level of activity, with GGY reaching £228.9 million
While the number of total bets in online event betting fell by 7.4% to 921 million, the increase in GGY suggests a rise in the average wager size, potentially indicating that players were placing more significant individual bets on key events
Mixed Results in Retail Gambling
Retail gambling experienced mixed fortunes in Q2. Although self-service betting terminals in retail venues showed a 7.3% increase in GGY, reaching £123.9 million, over-the-counter betting revenue declined by 7%, settling at £168.4 million. Additionally, the total volume of bets and spins in retail decreased slightly by 1% to 3.2 billion.
Data showed that retail machines saw minor fluctuations, with machine GGY slipping marginally to £290.1 million and the number of sessions falling by 1.3% to 23.7 million. Though still a significant revenue source, retail gambling’s overall performance may reflect an ongoing shift towards digital betting options as convenience and accessibility continue to drive players online
Regulatory Changes and Market Outlook
The growth in GGY comes amid an evolving regulatory landscape. Consultations regarding the Gambling Act Review are expected to implement stricter measures on online slots, which may include limits on stakes and new initiatives for player protection. The industry is also preparing for the implementation of new affordability checks, which could impact player spending levels and GGY.
Experts in the industry expect the current growth rate may slow down as new regulations are implemented. However, strong online engagement and continuous game innovation are likely to sustain growth in the gambling sector. Both the UKGC and operators aim to balance revenue generation with responsible gambling practices, ensuring sustainable growth while safeguarding consumer interests.