Stake to exit the UK market amid UKGC investigation
Stake, the global online gambling operator, is set to exit the UK market next month as its UK platform, managed under a white-label agreement with TGP Europe Limited, will...
UK reports strong iGaming revenue of $1.91B for Q3 2024
The UK Gambling Commission reported impressive growth in the UK gambling sector, largely driven by iGaming.
Online Gross Gambling Yield
Online GGY increased by 21% year-on-year, reaching £1.54 billion ($1.91 billion), setting a new industry record. The total number of bets and spins did not remain behind and increased by 8%, hitting 25.9 billion. Meanwhile, the number of active online accounts rose by 10% to 4.4 million per month.
Online slots
Online slots played a major role in this growth, with GGY climbing 15% to £709 million. This is the highest number of all time. The number of spins increased by 9% to 23.9 billion, and the average session length extended to 18 minutes. Additionally, sessions lasting more than an hour grew by 6%, reaching 10.4 million. However, some changes in operator classifications affected slot data this quarter, as one operator reclassified certain products into the slot vertical, influencing the results.
Real event betting
The real event betting segment also saw a significant boost, with GGY increasing by 38% to £647 million. This is the highest since Q2 2021. Despite this, the number of bets fell by 7%, and active monthly accounts dropped by 3%, hinting that bookmaker-friendly results may have contributed to the revenue spike.
Brick-and-mortar betting
Brick-and-mortar betting shops saw a 5% rise in GGY to £592 million, though bets and spins dropped slightly by 4%. In machine gaming, however, GGY slid by 5% to £280 million, with average spending per session dipping marginally.
Player engagement
Player engagement with safer gambling practices grew 23% to 3.5 million, highlighting the ongoing focus on responsible gaming.
UKGC announces new rules on player protection
The UK Gambling Commission introduced new rules for deposit limits and customer fund transparency together with the Licence Conditions and Codes of Practice (LCCP) in...
