iGaming drives UK gambling market growth

Business News

The UK Gambling Commission which covered data recorded for a period of 12 months from April 2017 till March 2018. During this time the gambling market’s overall revenue hit £14.4 billion. This is a 4.2% rise from the period which spans April 2016 to March 2017.

Revenues from the online gambling accounted for a total of £5.3 billion which a 12.8% rise from last year. The total online shares of the gambling industry increased by 2.8 points to reach 37.1%. Online betting came second with a total market of 23% which was followed by the National Lottery coming at 21%. Casinos, bingos and large society lotteries came at 8%, 5% and 4% respectively while arcades were at last with 3%.

Online gambling operators who had their offices and bases of operations in the UK had a total of 41% of the share of online activities which was followed by operators based in Malta and lastly by Gibraltar and the Isle of Man. Online casino games had the maximum contribution to gambling revenue with a total of £2.92 billion whereas online lottery ranked second with £2.07 billion.

By the end of March, there were about 33.6 million online active accounts while the figures last year around March were 29.7 million. The number of registrations of new accounts saw a rise from 4.5 million to 35.4 million. The funds held in these accounts, dropped from £875.5 to £784.8 million.