UKGC Reported that UK’s Online Gambling Grows by 10 Percent

UK Gambling CommissionThe UK Gambling Commission or UKGC has submitted its latest annual report where it states that UK gambling industry has grown by 10% and is moving from strength to strength. The story further talks about the robust increase in market share and gross gambling yield in the online gambling industry of United Kingdom.

The report from UKGC covers months from April 2016 to March 2017 and talks about the gradual rise in gambling revenue of Great Britain. The total gross gambling yield for the entire gambling industry of UK stands at 13.7 billion Pounds as compared to 13.6 billion Pounds during April 2015 to March 2016.

Although there was a decline of 3.9% in some betting shops bringing the total to 8,502, there was robust growth in GGY. Also, there was a drop of 1.4% in Bingo Clubs bringing the number to 583 and a decline of 5.1% in licensed arcades bringing the total to 1,750.

There is only one addition to the number of casinos bring the total number of brick and mortar casinos to 146 in Great Britain. There is a 1.8% increase in gaming machines with a total number of 182,916 licensed devices. The gambling industry has contributed significantly to increasing the GGY of Great Britain.

APCW Perspectives

According to the UKGC report, there is a hike of 10.1% in online gambling industry of UK from a figure of 4.5 billion Pounds to 4.7 billion Pounds. There is an increase of 1.5% in market share amounting to a whopping 34% of the entire gambling industry.

Many analysts and market experts are of the opinion that growth in online gaming sector is primarily due to the launching of the no-deposit bonus feature in the online casino sites. This feature allows the customers to play with minimum or no risk at all. Cryptocurrency is moving from strength to strength with every passing day and has earned quite a reputation for itself in the casinos and video pokers which could also be the reason for the growth of online gambling.

In the last four weeks, it is reported that approximately 9 million adults have gambled online. This figure is almost similar to some people who watch the favourite reality television show called “Britain’s Got Talent“.

Tim Miller, the Executive Director of UK Gambling Commission, made the following statement:

These latest figures show that the gambling market is continuing to grow, particularly in the online sector. However, with such growth comes a great responsibility for operators to prevent gambling-related harm to all consumers and the public.

As the market for the online gambling continues to grow, UK Gambling Commission has noticed that a large number of young people are also attracted towards online casinos. According to the report, people between the age groups of 18-24 are gambling online due to the ads and posts they come across while surfing the internet. There is also an increase in underage gambling which UKGC is yet to address.

Jay Stevens

Jay Stevens

Hi, my name is Adam Jay Stevens. Welcome to Top10-CasinoSites. Explore the online casino world with my site.


Related Articles

Japan Passes Countermeasure Bill to Solve Problem Gambling

The Integrated Resorts (IR) Implementation Bill of Japan has faced a lot of criticism and opposition from the people and

AMF’s Delay Urges Former Amaya Gaming CEO to Dismiss the Case

David Baazov who is the founder, as well as the former Chief Executive Officer of Amaya Gaming, is urging the

Hotel Okura to Open a Hotel in Resorts World Manila in 2018

Hotel Okura which is known as one of the largest and most successful hotel chains in Japan is in the

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

<

Right Menu Icon