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newsthe united kingdoms online ggy rises by 5 year on year in q4

The United Kingdom’s Online Gross Gambling Yield Rises

We independently review betting sites. Sign-ups through our links may earn us a commission at no extra cost to you, this never influences our listings’ order.

Online gross gambling yield in the United Kingdom rose by 5% year-on-year in Q4, according to new data from the Gambling Commission.  

In total, 2023’s GGY stood at an impressive £1.4Billion. The increase in revenue was matched by a new high of total bets/spins. Approximately 24 billion bets/spins were placed which is an increase of 10%.

Online Gross Gambling Yield

The UK’s online gross gambling yield saw an increase in real event betting as well. The figure rose by 2% which amounted to £565m. However, the number of bets placed saw a decline of 6%.

Betting on slots also saw a healthy spike, with GGY rising by 11% to £614m. Also, the number of online slots sessions lasting longer than one hour climbed by 2% year-on-year to 9.5 million.

In terms of the average session length, this dropped by a minute from 18 to 17 throughout Q4. The overall 5% increase in GGY will have pleased operators in the UK regulated market.

2024 Gross Gambling Yield

It’s too early to say if 2024’s GGY in the UK will surpass the figures that have been presented by the Gambling Commission. However, there’s no reason why online slot activity and GGY can’t increase with the number of new games on offer.

Something that is worth bearing in mind is that the UKGC are introducing new financial vulnerability checks and risk assessments. These will come into play on August 30.

Therefore, those who enjoy casino and online slot betting may not be able to play as frequently and spend as much as they had done previously.

In terms of real event betting and sportsbook wagers, this summer plays host to the 2024 European Championship and Olympic Games.

The England men’s football team are the current favourites with UK bookmakers. Seasoned punters and first-timers are all expected to bet big on the event in Germany between June and July.

Olympic Games betting won’t be as popular and financially rewarding as the Euros but it’ll certainly help boost GGY for 2024 in Q3/Q4.

Ben Horlock
Ben Horlock
Ben Horlock

Ben is a news and features writer who specialises in sport and gambling. Ben has over ten years experience writing for web-based audiences and has been published across various UK and US news outlets. As well, Ben has worked in social media for four years in the sports gambling industry.