The UK Gambling Commission has published its latest report on the local gambling industry revealing that online gross gambling yield (GGY) for Q4 23-24 came to £1.4 billion, up by 5% from the same period in the previous financial year.
There was a record number of 24 billion bets/spins for the reporting period, an all-time high.
The report covers the period from January 2024 – March 2023 and includes a detailed breakdown of online and in-person gambling revenues, active customer accounts, and activity according to sector.
Key Highlights
- Online GGY – £1.4 billion, up by 5% from Q4 in the previous year.
- Total bets and/or spins – 24 billion, up by 10% year-on-year.
- Average monthly active accounts increased 2%.
- Sports betting GGY – £565 million, up by 2% year-on-year. UK Online Gross Gambling Yield up by 5% in Q4 23-24
- Active sports betting accounts increased by 1%. UK Online Gross Gambling Yield up by 5% in Q4 23-24 – £614 million, up by 11% year-on-year.
- The number of spins increased 12%.
- Average monthly active accounts up by 7% to 4.2 million.
The report also shows that online slots sessions which last for longer than an hour increased by 2% to 9.5 million. However, the average session length dropped to 17 minutes while around 7% of all online slots sessions lasted for more than an hour.
Licensed betting operators (LBOs) reported a 3% decrease in GGY to £568 million. Bet and spins increased by 1% to 3.3 billion.
UKGC to Look Into Football Betting Settlements
The Gambling Commission has also confirmed that it has launched a review of incidents involving incorrect sports data. The move comes as a result of several complaints from customers about the use of inaccurate data to settle football bets on in-games markets.
As reported by the BBC, customers have missed out on payouts due to bookmakers incorrectly classifying shots or goals for ‘shots-on-target’ betting markets. There were also instances of tackles being incorrectly classified as blocks.
UK Online Gross Gambling Yield up by 5% in Q4 23-24
Olivia has worked as an editor and writer for major brands across multiple niches. She now focuses on the iGaming and sports betting industries.