UK Online Gross Gambling Yield up by 5% in Q4 23-24

The UK Gambling Commission has published its latest report on the local gambling industry revealing that online gross gambling yield (GGY) for Q4 23-24 came to £1.4 billion, up by 5% from the same period in the previous financial year.

There was a record number of 24 billion bets/spins for the reporting period, an all-time high.

The report covers the period from January 2024 – March 2023 and includes a detailed breakdown of online and in-person gambling revenues, active customer accounts, and activity according to sector.

Key Highlights

• Online GGY – £1.4 billion, up by 5% from Q4 in the previous year.
• Total bets and/or spins – 24 billion, up by 10% year-on-year.
• Average monthly active accounts increased 2%.
• Sports betting GGY – £565 million, up by 2% year-on-year.
• Sports bets decreased by 6%.
• Active sports betting accounts increased by 1%.
• Slots GGY – £614 million, up by 11% year-on-year.
• The number of spins increased 12%.
• Average monthly active accounts up by 7% to 4.2 million.

The report also shows that online slots sessions which last for longer than an hour increased by 2% to 9.5 million. However, the average session length dropped to 17 minutes while around 7% of all online slots sessions lasted for more than an hour.

Licensed betting operators (LBOs) reported a 3% decrease in GGY to £568 million. Bet and spins increased by 1% to 3.3 billion.

UKGC to Look Into Football Betting Settlements

The Gambling Commission has also confirmed that it has launched a review of incidents involving incorrect sports data. The move comes as a result of several complaints from customers about the use of inaccurate data to settle football bets on in-games markets.

As reported by the BBC, customers have missed out on payouts due to bookmakers incorrectly classifying shots or goals for ‘shots-on-target’ betting markets. There were also instances of tackles being incorrectly classified as blocks.

The UKGC told the BBC that CEO Andrew Rhodes will hold meetings with prominent figures in football betting to guarantee the precision and fairness of market settlements.