The next four years are likely to see a drop in the extent of gambling in the UK, according to figures released this week.
The data has been gathered by analysts for an industry publication and they predict a drop of 17% in betting and gambling data by 2024. The data projection represents a drop of $70.5 billion in gambling revenue over the period of four years. In 2020, the figures show that projected gambling revenue for the UK industry will be $79.83 billion, a figure that is set to drop to $76.98 billion next year.
Looking beyond 2021, the figures suggest that 2022’s gambling revenue total will be $74.42 billion, but that this will slump further to $72.12 billion in 2023, a drop on 2022’s figure of 31.1%. That decline represents a significant drop from the highest return of the last eight years, which came in 2013, when the UK betting sector earned $114.31 billion, a figure that was up 6% on 2012.
The report also considers the period since 2012, noting that there was a dip in gambling revenue between 2014 and 2015, and a slight increase in 2017. But it concludes that revenue has been declining overall since 2012, and cites a number of factors, including regulatory changes.
The revenue that forms the basis of the calculations is drawn from a number of sectors of the UK gambling industry, including casinos, lotteries, online gambling and bingo.
The drop in the revenue figure is also reflected in the number of enterprises in the UK that are showing a turnover of greater than £5 million. In 2018, there were 95 gambling operators recording this figure, but by 2019, the number was down to 90.
The changes affecting the UK gambling sector are related to the harshening political climate, which has seen the UK Gambling Commission pressured to do more to tackle rogue operators, while regulatory changes such as the reduction in the maximum stake on Fixed Odds Betting terminals have also affected the sector.