UK Online Gambling Yield Slips For The First Time

UK Online Gambling Yield Slips For The First Time

UK’s gross gambling yield from regulated gambling has dropped 0.3% year-on-year to £14.36bn (€16.86bn/$18.56bn) for the year ending 31 March 2019.

The figures released by the country’s gambling commission also reveal that the remote gambling revenue dropped 0.6% to £5.3bn.

The financial figures were released by the Gambling Commission on 28ht November as a part of its annual industry statistics report.

The remote gambling contributed to 37.1% of gross gambling yield.

The most popular sport for remote betting during the period was Football. However, the yield declined 1.5% to £991.2m. The second biggest contributor was horse racing with a yield of £522.1m, down 15%, despite stakes rising 8.5% to £9.64bn.

The Gambling Commission in its report also said that there are 102,782 people employed in the country’s gambling industry. However, that represented a 3.2% year-on-year decline.

Earlier in the year, the maximum stakes on FOBTs all across the UK was reduced from £100 to £2.

Commenting on the move, Secretary of State for Digital, Culture, Media and Sport, Jeremy Wright, had said, “Reducing the potential loss per spin from £100 to £2 is a significant step forward in protecting vulnerable people. The Government’s actions and ambitions stretch much further and we are looking at the further treatment of those who have suffered from gambling-related harm, whether gambling on credit should be limited and considering what actions are necessary to tackle problem gambling online.”

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