News Business UK Online Gaming Take Falls

UK Online Gaming Take Falls

-

The regulatory headwinds affecting the UK gambling sector have had an effect on financial performance, according to the latest figures released today.

According to figures from the UK Gambling Commission (UKGC) there was a 0.3% drop in gross gambling yield in the UK betting sector, according to a year on year comparison. In the year ending in March 2019, the figure was £14.36 billion, while revenue from remote gambling also fell, by 0.6%.

The numbers were included in the UKGC’s annual report, published on Thursday, and the headline figure was undoubtedly the drop in yield from remote gambling, which recorded a year on year fall for the first time in its history. In total, remote gambling was responsible for 37.1% of the total sector’s gross gambling yield, recording £118.74 billion in stakes.

Online casino games are still the biggest contributor in the online gambling space. They produced a yield of £3.11 billion, which represents a rise of 6.0%, and the yield from online slots was up 5.7%, while online roulette yield increased dramatically to £448.2 million.

The most popular sport for betting in the online sector was football, but yield was still down by 1.5% for football betting, even though there was a 5.2% rise in football betting stakes, and the sector was able to benefit from the 2018 FIFA World Cup during the year under analysis. Horse racing also saw a drop in yield, of 15%, even though horse racing stakes rose by 8.5% in the year.

A number of factors have been cited for the poor figures, including a high profile money-back campaign by Sky Bet during the Cheltenham Festival, as well as a poor year’s performance by Bet365, but tougher regulation during the period is also likely to have a played a part.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

New Twist in Massachusetts Sports Betting Story

Betting fans in the US state of Massachusetts may yet be able to enjoy legal sports betting...

Dutch Regulator Warns Operators

Dutch regulator Kansspelautoriteit (KSA) has announced that it has issued 14 warnings to online gambling operators regarding...

Criticism for Spanish Gambling Advertising Rules

The introduction of new laws in Spain covering the advertising of online gambling has continued as the...

Netherlands Regulator Offers Gaming Clarity

The gambling regulator in the Netherlands, Kansspelautoriteit (KSA) has provided some clarity on the way ahead for the...

Problem Gambling Body Launches in London

The Primary Care Gambling Service (PCGS), a new NHS-backed program that provides help for adults struggling with...

Gamble Aware Urges Banking Sector to do More

Gambling organisation GambleAware has urged the banking sector to do more in the area of gambling blocking software.

Must read

Guide to Online Casino Bonuses

Anyone who has visited an online casino site...

The online casino sector is one of...

You might also likeRELATED
Recommended to you