NEW FINANCIAL FIGURES SHOW UK GAMBLING INDUSTRY GENERATED £7.1BN IN REVENUE

Published on July 20, 2015 in Industry News

UK FlagThe UK Gambling Commission (UKGC) recently revealed the financial figures for the period of October 2013 to September 2014 and the findings are staggering.

The released figures showed that the British gaming industry, excluding the National Lottery, generated more than £7.1bn in gross gambling yield (also known as GGY, this is the amount retained by operators after payments of winnings but before deduction of operation costs) during the 12 month period.

The impressive figure shows an increase of almost 5% or £327 million when compared to the previous year.

Where did the revenue come from?

The following shows which percentage of the £7.1bn gross gambling yield was generated by the different categories in the gambling industry.

47% of the revenue was generated by land-based betting which proved to still be the most popular means of placing wagers.

19% of the GGY came from online sports betting which generated a massive £1.19bn in revenue. More than half of this figure originated from football fans betting on the outcome of matches.

16% of the revenue was generated by online casinos.

9% of the GGY was generated by bingo, a decline from previous years.

5% was brought in by arcades which also saw a decrease in revenue.

5% was generated by social lotteries.

While the UK’s National Lottery is not included in the total figure of £7.1bn, sales did increase by more than £150m making its total £6.9bn.

The rise and fall of employment numbers

The British gambling industry is obviously flourishing and this can only mean good things for the country. Unfortunately, while the industry employs  95,227 people, this is a drastic drop of 2% from the previously reported period. The 2% drop in employment translates to 2,426 people being without jobs. 

However the remote sector saw an impressive 8% increase in their staff count with an extra 450 people now being employed.