Total gambling revenue in the UK in the full year to March 31 was down by 0.3%, and it is the first time it has registered such figures.
UK.- The UK Gambling Commission (UKGC) has revealed that the online gambling market in the country has posted its first-ever revenue decline. The total gambling revenue in the UK was down 0.3% year-on-year.
The financial results are for the full year ending March 31, 2019. The total gambling revenue was £14.3 billion, while remote gambling revenue fell 0.6% to £5.3 billion, the UKGC reported. Remote betting yield also declined 10% to £2.3 billion, even though stakes rose 2.7%.
The most popular sport in the sports betting industry in the UK was football. Handle declined 1.5% despite the fact that June-July 2018 featured the men’s World Cup. Total yield was £991.2 million. Horse racing was the second most popular modality with £522.1 million in yield.
Gross gaming yield (GGY) from gaming arcades increased by 1.8%, while adult arcades registered a 3.2% increase. Land-based casinos, bingo and National Lottery’s GGY all declined.
UKGC signs MoU with Swedish gambling regulator
Spelinspektionen, the gambling regulator from Sweden, and the UKGC have announced that they have entered into a Memorandum of Understanding (MoU) that seeks to enhance and build cooperation between the organisations.
The MoU aims to support closer communication between Spelinspektionen and the UKGC and the sharing of best practice on areas like regulatory policies and procedures. The agreement came into force on November 11, 2019.