Despite Environmental and Economic Concerns, Gambling Activities Increase

By John Isaac,
Editor at online-gambling.com

John Isaac Editor at online-gambling.com

John Isaac is an editor with many years of experience in the gambling industry. He writes expert articles on card games like blackjack and poker. In addition, he is also well aware of the US gambling laws and the Indian and Dutch gambling markets. You can rely on verified information and insightful details.

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Last updated: August 6, 2022

Despite the widespread macroeconomic concerns in the UK, the latest update of operator data reveals increased gambling yields. The operator data, which comprises the period up to June 2022, shows that the total number of bets/spins in recent quarters increased by 5% compared to quarter one of the financial year, 2022-2023. The update also revealed that the GGY (Gross Gambling Yield) was 1.2 billion pounds, a nearly 1% increase than in previous quarters.

The data was revealed by the UKGC (United Kingdom Gambling Commission). It covers both in-person and online gambling in the UK. Slots GGY rose 4 percent to almost 565 million pounds between Q4 and Q1. The monthly active accounts average went up 4 percent to 3.6 million.

The number of online slot sessions that lasted more than an hour rose by 5 percent to 8.4 million. Lastly, licensed operators GGY went up 6 percent to 584 million pounds between Q4 and Q1. The number of total spins and bets went up 3 percent to 3.3 billion.

UKGC Asks Operators to Pay Close Attention to Accounts Spending More Time and Money

In a press release, the UKGC stated that operators must realize that bettors have been affected by the pandemic and the economic environment in the UK. For this reason, operators themselves must be extra vigilant. They explained that many people still feel uncertain about their personal and financial life and might have to readjust their budgets as life is slowly returning to normal after the long pandemic.

The UKGC stated that several of these people might still feel vulnerable due to these factors. For this reason, operators must closely observe data that shows customers spending an increased amount of time and money. They must show strengthened guidance when faced with data revealing that consumers are expanding their game portfolio.

The UKGC also asked operators to avoid the temptation of taking advantage of the present situation. They further mentioned that operators should be very careful when they seek to cross-sell products.

The UKGC to Take Additional Steps That Will Permanently Strengthen Regulatory Requirements

The regulator also asked operators to be extra careful when onboarding a new customer and deciding over affordability checks. Operators were instructed not to try to take advantage of the current situation. Instead, they were to interact with the consumer when a trigger was reached directly.

The UKGC also reemphasized its commitment to protecting consumers. They continue to monitor market-related risk by evaluating the impact of the strengthened guidance being issued by operators. The commission also tracks key data and collects and publishes this additional data.

The UKGC intends to take additional steps to strengthen regulatory requirements permanently. It intends to make changes to Remote Technical Standards & License Conditions. Changes will also be made to Codes of Practice. These steps will be taken to protect consumers.

This new report comes after an update on problem gambling was released last month. According to data released in July, problem gambling rates have stayed historically low at 0.2 percent in the first half of 2022. This is down from 0.4 percent in the year 2021. However, the survey found that participants between the age of 16 to 24 are the most vulnerable group.