Good news for online casino operators according to UKGC report
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Online gambling providers who hold a UKGC (UK Gambling Commission) licence saw a 22 percent increase in their revenues in the fiscal year 2013-14, according to a UKGC-issued report.
The report, which is the last one issued before the UKGC's legislation overhaul came into effect on 1 November 2014, reveals that online gambling accounted for 17 percent of all UK wagering activities that took place online.
This is a four percent increase on the figures ascertained for the fiscal year 2012-13. The gross gambling yield of onine casino betting totalled £30 million.
The vast majority of UK online gambling pertains to sports-betting, which claims an 86 percent share of the market. Casino gambling comes in fourth behind pools betting and exchange betting.
Onlin casino turnover actually fell 19 percent in 2013-14, in comparison to the 31 percent rise in the amount of money spend on football betting. The total casino turnover was reported at £697 million.
The biggest "losers" in this fall of casino turnover were table games at 30 percent, card games at 20 percent and slots at 10 percent.
The vast majority of UK gambling funds are spent on traditional, land-based activities such as using high-street bookies, at 47 percent. Land based casinos fell to 16 percent, ahead of bingo (10%) and arcades (6%).
The next UKGC report, due in 12 months time, will indicate the effect the UKGC's recent regulatory changes have had on the UK online gambling market.
These changes included the requirement that all operators who offer online gambling activities to UK citizens must possess a UK-based licence.
This change has seen many leading casino poker rooms having to set up special UK-facing versions of their casino operations, while some big operators – such as Mansion Poker – have pulled out of the UK altogether.