UK Gambling Industry Shows Further Growth Throughout 2020

The UK gambling industry has managed to overcome the formidable challenges posed by the Covid-19 pandemic to show exceptional growth throughout 2020. Figures recently released by the UK Gambling Commission revealed that between March and October 2020, there was a growth in gross gambling yield of 29%. In addition to this, there was a 7% increase in active accounts at the end of this period.

Other interesting statistics revealed by the report included the fact that people are spending longer in enjoying online gambling. This can be seen in the news that the number of players who spent over an hour playing online slot games increased by as much as 12% between September and October. However, the average online gaming session was found to be just 21 minutes long.

It looks like UK punters put down more bets than ever before. There was a 12% increase in the number of bets during this period. This is all the more remarkable considering that there was a widespread disruption to many elite sporting events such as Premier League football.

Above all, the general picture is that more people are enjoying online gambling than ever before. The fact that there was 7% more people betting on sport and playing casino games compared to last year is a testament to the industry’s durability. Plus with a gross gambling yield serving up £224 million, it could be a bumper festive season for the UK’s online gambling industry.

Positive Figures in Challenging Circumstances

The figures will be welcomed by the industry that has had to grapple with a range of restrictions implemented that aim to promote safer online gambling. These have included restrictions on the range of bonus offers and also the implementation of affordability checks.

This followed on from a decision to ban the use of credit cards for making deposits at UK gambling sites. Such restrictions were feared to severely reduce the profitability of such online betting sites, but it looks like the industry has emerged relatively unscathed.

While many other industries have been especially hard-hit by the pandemic, the gambling industry has found that its online operations have been its saving grace. With a series of lockdowns meaning that more people have had to stay at home, it looks like the online gambling industry has provided plenty of house-bound entertainment.