UKGC Reveals £1bn Annual Online Casino Revenue Surge Ahead of Budget
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The post UKGC Reveals £1bn Annual Online Casino Revenue Surge Ahead of Budget appeared first on Vegas Slots Online News. The UK Gambling Commission’s (UKGC) annual report for the financial year April 2024 to March 2025 has given the sector it represents exposure of the most uncomfortable kind on the eve of the Autumn Budget. The UKGC’s report, publ
The post UKGC Reveals £1bn Annual Online Casino Revenue Surge Ahead of Budget appeared first on Vegas Slots Online News. The UK Gambling Commission’s (UKGC) annual report for the financial year April 2024 to March 2025 has given the sector it represents exposure of the most uncomfortable kind on the eve of the Autumn Budget. The UKGC’s report, published Monday, revealed that in the 12-month period, UK online gambling firms made an extra £1bn ($1.1bn) from bettors to post a Gross Gambling Revenue (GGR) figure of £12.6bn ($16.6bn). The new data marks a 9.3% rise on the £11.5
bn ($15.1bn) the industry made the year before, and is reportedly “expected to buoy calls for the chancellor to raise betting taxes” in tomorrow’s budget. Whether or not UK Finance Minister Rachel Reeves has time to tweak her budget accordingly, this fresh report of the UK gambling industry’s increased earnings power would justify a tax hike in the eyes of many campaigners. 15% spike in GGR from online casino players According to The Guardian, the UKGC’s numbers were inflated by a near 15% spike in GGR from online casino players rising to £5bn ($6.6bn) from £4.4bn ($5.8
bn) during the prior period, and now “55% higher than at the start of the 2020 Covid-19 pandemic.” The news comes after critics had a field day on Monday after reports emerged that the UK gambling trade spent £2bn ($2.3bn) on advertising and marketing in 2024. The ad spend revelation drew fire from many quarters, including Treasury Select Committee Chair Meg Hillier, who questioned spending billions on ads while claiming to be on “a financial knife-edge.” The post UKGC Reveals £1bn Annual Online Casino Revenue Surge Ahead of Budget appeared first on Vegas Slots Online News.
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The post UKGC Reveals £1bn Annual Online Casino Revenue Surge Ahead of Budget appeared first on Vegas Slots Online News. The UK Gambling Commission’s (UKGC) annual report for the financial year April 2024 to March 2025 has given the sector it represents exposure of the most uncomfortable kind on the eve of the Autumn Budget. The UKGC’s report, published Monday, revealed that in the 12-month period, UK online gambling firms made an extra £1bn ($1.1bn) from bettors to post a Gross Gambling Revenue (GGR) figure of £12.6bn ($16.6bn). The new data marks a 9.3% rise on the £11.
5bn ($15.1bn) the industry made the year before, and is reportedly “expected to buoy calls for the chancellor to raise betting taxes” in tomorrow’s budget. Whether or not UK Finance Minister Rachel Reeves has time to tweak her budget accordingly, this fresh report of the UK gambling industry’s increased earnings power would justify a tax hike in the eyes of many campaigners. 15% spike in GGR from online casino players According to The Guardian, the UKGC’s numbers were inflated by a near 15% spike in GGR from online casino players rising to £5bn ($6.6bn) from £4.4bn ($5.
8bn) during the prior period, and now “55% higher than at the start of the 2020 Covid-19 pandemic.” The news comes after critics had a field day on Monday after reports emerged that the UK gambling trade spent £2bn ($2.3bn) on advertising and marketing in 2024. The ad spend revelation drew fire from many quarters, including Treasury Select Committee Chair Meg Hillier, who questioned spending billions on ads while claiming to be on “a financial knife-edge.” The post UKGC Reveals £1bn Annual Online Casino Revenue Surge Ahead of Budget appeared first on Vegas Slots Online News.