UK Gambling Industry Breaks Records with £15.1 Billion Revenues

The latest data from the UK Gambling Commission (UKGC) reveals that, excluding the national lottery, the gambling sector generated £10.95 billion. Digital slot machine games, known for their high addiction risk, accounted for a significant portion of this revenue, reaching an all-time high of £3.2 billion.

Online slots now contribute nearly 30% of the industry's total income, a substantial increase from the pre-pandemic 23%. Dr. Matt Gaskell from the NHS Northern Gambling Service expressed concerns, stating that these products are designed to exploit decision-making, prolong play, and lead to unaffordable losses.

According to the UKGC's findings, slot machine players experience heavier losses compared to users of other betting products. During the pandemic, the average spend per player per month on online slots was £67, significantly higher than £36 on other casino products and £45 on real event betting.

A November UKGC report highlighted that around 2.5% of the adult population in Britain, approximately 1.3 million individuals, might be facing gambling-related challenges. Carolyn Harris, chair of a cross-parliamentary group examining gambling harm, urged industry cooperation to find customer-centric solutions.

Alarming trends have increased pressure on the government to conclude consultations on lowering slot stake limits. Proposals include a £2 limit for online slots to reduce the risk of unsustainable losses. Despite concerns from some operators about profitability, the UKGC's data suggests the industry can remain sustainable. Lawmakers aim to finalize legislation before the 2024 elections to ensure customer safety.