Growth in gambling across the UK highlighted by UKGC: Online gambling sets new milestones
The UK gambling market is gearing up for an exciting period ahead, with major sporting events like the EURO 2024 and the current Olympic Games set to drive increased betting activity in the July to September 2024 period. This forecast comes as the UK Gambling Commission (UKGC) published a market report for April to June 2024, which reveals a significant increase in the online gambling sector.
Online sports betting was the primary contributor to the growth, with a 16% increase to £625 million. The number of spins on online slots in the quarter reached a record high of 22.4 billion. Despite a 7% decrease in the number of bets, the overall online gambling sector saw a substantial increase, generating £1.46 billion, which is a 12% rise.
The report does not indicate a corresponding increase in problematic play related to the growth in online gambling. The average session duration for online slots remained at 17 minutes, while the number of long sessions (over an hour) was the lowest ever. However, the number of active accounts for online slots increased significantly.
The UKGC will publish another update on the market development in a few months, providing more insights into the current trends. In a related development, British gambling charity GambleAware has called for more stringent warnings in gambling advertising.
Looking ahead, the market outlook remains positive but more regulated and focused on responsible gambling practices. From September 2024, a low stake limit for young players on online slots will be implemented in the UK, which could affect the next quarter's market development.
These new regulations aim to promote responsible gambling and reduce potential harm, particularly among younger or more vulnerable demographics. Operators that invest in advanced compliance and player protection technology are better positioned to navigate regulatory changes and maintain competitiveness.
Mobile platforms continue to dominate, with mobile/tablet revenue exceeding half of the market in 2024 and growing rapidly, reflecting ongoing shifts in consumer preferences. The UK gambling market is projected to keep expanding overall, with online gambling growing steadily despite tighter regulations.
In conclusion, while major sports events like EURO 2024 and the Olympics will boost UK sports betting volumes in late 2024 and beyond, new stake limits for young players on online slots and affordability checks will influence player behaviours, likely slowing growth in some online casino segments. However, the overall market outlook remains positive, with operators focused on sports betting and innovative, responsible offerings set to benefit most from upcoming sports events and regulatory adaptations.
[1] UK Gambling Commission Market Report, April to June 2024 [2] GambleAware Press Release, July 2024 [3] UKGC Statement on New Regulations for Young Players, August 2024 [4] Online Gambling Operator Outlook, September 2024 [5] EURO 2024 and Olympic Games Impact on UK Gambling, October 2024
Online casinos in Germany might also witness an increase in sports betting activity, mirroring the trends in the UK, given the excitement surrounding the EURO 2024 and the Olympic Games. As regulations aim to promote responsible gambling and limit potential harm, especially among younger or vulnerable demographics, operators in both countries will need to invest in advanced compliance and player protection technology to remain competitive and navigate changes effectively.
