Based on the statistics from the UK Gambling Commission (UKGC), betting and slot games generated £15.01 billion for the year ended March 2023.
Without the lottery earnings, it was £10.95 billion. It will be interesting to see what the March 2024 figures reveal, however these figures had not been published at the time of writing this article.
The UKGC website has listed some additional data. The data below covers both high-street betting shops and online gambling:
Additional statistics for the period October to December 2023
The total gross gambling yield (GGY) for online gambling in Q3 (October to December 2023) reached £1.3 billion, marking a 4% increase from the previous year’s Q3. Total bets/spins surged by 9% year-on-year, hitting a new peak of 24 billion, with a 2% rise in average monthly active accounts.
Slot games GGY showed a 6% year-on-year growth, amounting to £618 million. The number of spins increased by 11%, while the average monthly active accounts in Q3 rose by 8%, reaching four million per month.
Online slot sessions
According to the news site next.io, online slot machines accounted for the biggest increase of all sectors. The number of UK online slot sessions lasting over an hour increased by 3% year-on-year, totalling 9.8 million. The average session duration decreased from 19 minutes in Q3 2022-23 to 17 minutes in the current quarter, with roughly 7% of all sessions exceeding one hour.
On the other hand, Live Betting Games saw a sluggish rise of 0.5, bringing the figure to £563 million, which is the same as last year’s third quarter. Nevertheless, the overall volume of wagers and rotations reduced by 4% and it made $3.3 billion.
Covid-19 pandemic
The Covid-19 pandemic led to a huge increase in online betting because all of the land-based casinos and betting shops were forced to close their doors for the duration. Furthermore, because the UK was in lockdown and people were stuck indoors with nothing to do, many people took to playing online slots and other online games as a source of amusement.
The UKGC claims that slot players in online gambling tend to spend both more time and more money than those who play other formats of gambling. In the times of the pandemic, spending on slots was £67, which was more than the £36 spent for other gambling categories and the £45 expended on live event gambling.
Lower spin limits
In a bid to lower these numbers, the UK government announced in February 2024 that it plans to ensure that slot limits will be cut from 1 September 2024.
The new maximum bet for virtual slot machines will be £2 per spin for those aged 18-24, and £5 per spin for those over 25 years old.
A transitional period of six weeks will be instituted for operators to adhere to the £5 limit. Additionaly, a second six-week phase will be allocated to address any technical requirements, ensuring full compliance with the revised stake limit.
This decision to enforce staking limits comes after a 10-week consultation period. During this period, the government noted that the majority of respondents supported the proposal to establish new statutory limits for online slots, aiming to mitigate the risk of gambling-related harm.
Gambling Act white paper
The proposal emerged as part of the government’s Gambling Act white paper, published last April, which contained a series of suggestions aimed at reforming gambling regulation in the UK.
The Department of Culture, Media and Sport indicated its intention to establish stake limits, committing to a consultation on limits ranging from £2 to £15 per spin.
Highlighting the higher problem gambling rate associated with online slot games, particularly among young adults, gambling minister Stuart Andrew emphasized the need to address these issues, as outlined in the white paper.
Why a lower limit for younger adults?
Statistically, according to NHS data, the gambling rate among adolescents ranging between 18 and 24 is 0.087. The government studied the problem of excessive gambling and this group of younger people was identified as having the highest score.
This rate, encompassing online gambling activities like slots, casino or bingo games, is among the highest across various forms of gambling.
Additionally, the government highlighted several factors influencing this decision, including the lower disposable income and ongoing neurological development affecting risk perception among young adults.
The government also raised the evidence that there have been several cases of suicide and gambling-related harm among young adults.
GambleAware welcomes the new limits
In response to the announcement, Zoë Osmond, CEO of GambleAware, expressed satisfaction with the newly introduced limits. GambleAware has advocated for such measures to safeguard UK players for some time.
Osmond specifically commended the decision to implement a lower stake limit for younger adults. Furthermore, she expressed appreciation for the government’s move to set lower online stake limits for individuals under 25 as a vital measure to safeguard young people.
Osmond affirmed their commitment to collaborating with the government and other stakeholders in the gambling harm sector. Their goal is to ensure the implementation of comprehensive preventive measures, including the introduction of new regulations like these, without overlooking any opportunities.
Reaching their goal of protecting young adults
The joint efforts between organisations such as GambleAware and government entities highlight the commitment to addressing the pressing issue of gambling harm, particularly among young adults.
By implementing lower stake limits, there is a concerted effort to protect vulnerable individuals and promote safer gambling practices. With ongoing collaboration and vigilance, the UK government aims to create a safer and healthier gambling environment for all.