UKGC Reports Positive Growth in UK Gambling Industry
Last updated: May 18, 2018
Last updated: May 18, 2018
The UKGC or United Kingdom Gambling Commission is the leading regulator of gambling in the UK, issuing licenses to online casinos and sportsbooks, and regulating the local gambling industry as a whole. The UKGC is also one of the most respected and well-regarded regulators in the casino and sports betting industry, so when it releases its reports on the state of gambling within the UK, people tend to pay attention.
In its latest report, collated statistics gathered by the UKGC offers insight into just how the UK’s gambling markets are doing. The commission surveyed every legitimate license holder within its scope of control, gathering the most accurate data possible. The UK Gambling Commission enjoys a broad scope of regulatory oversight, which covers not only online casino gambling, but also every real-world brick and mortar casino spread throughout the UK. Data pertaining to the UK gambling markets, including industry statistics, is published bi-annually, once in May and again in November. The period for the surveys, for example, is taken from the previous April to the current March (in this case from April 2016 to March 2017).
According to UKGC executive, Tim Miller, the UK is not only in good shape in terms of current gambling growth, but the future of UK gambling is looking pretty good too. This is especially true of the online casino gambling and sports betting markets. Miller foresees more and more UK punters placing bets online which is great news for UK based online casinos and sportsbooks. Future growth also includes new players signing up for the first time at various UK online casinos and sportsbooks; and also takes into account an increase in actual betting revenue. In other words, UK online gambling sites are likely to see more players signing up than in previous years, and those new players are more likely to spend more disposable income at UK online gambling establishments.
While the projected growth within the UK gambling industry is obviously seen as a good thing, it also means that online casino and sportsbook operators need to focus far more energy on ensuring that they offer a safe and responsible product. The UKGC is acutely aware of the dangers that come with an expansion in online casino gambling or sports betting.
This is particularly true when one considers the fact that the majority of that growth will be fuelled and driven by a new generation of online gambler. The chances of an increase in gambling addiction among the British popular is all too real, and the UKGC will need to be extra vigilant in ensuring that all online gambling sites under its scope of administration toe the line. However, according to Miller, the UKGC’s primary goal is in ensuring the safety and wellbeing of UK gamblers, which is why online gambling operators have to go to great lengths to prove that they do indeed qualify for the UKGC stamp of approval.