UKGC Reports A 6 Month Low on June’s GGY Results. A total of £496 million was amassed, in the Gambling sector, the least since Nov 2020! ( Image by Markus Winkler on Unsplash)
The online gambling sector’s authority the UKGC reports 6 month low in the UK recorded a drop in its total gross gambling yield or GGY in June. This is regardless of the fact that the sector noted a rise in player activity that due to the Euro 2020 championships. The UKGC, in a recent market update that it published, revealed that in June, a total of £496 million was amassed, which is the least the sector has made since November 2020. Asides from sports betting that recorded a1% month-on-month rise, there was a double-digit decline in the GGY of all online verticals.
However, even with the high levels of wagering during Euro 2020, this vertical was unable to meet the high GGY activity it recorded between January – April during the lockdown. In June, the UK government started to reduce the restrictions on hospitality and leisure activities, which led to land-based gaming outlets like casinos, and bingo halls opening once more from the 17th of June. The active number of players increased by 4% to 11.3 million, majorly as a result of the interest of recreational customers in Euro 2020 markets.
Sports betting recorded a 9% month-on-month rise in the number of active players to a 5.6million. And even with the high activity in Euro 2020, it was unable to match the peaks of more than 6 million players in April and May. This high number was influenced by the Grand National racing events and Cheltenham Festival. Mirroring the result of June, the overall wagers in online gambling fell to £6.1 billion, which was the lowest recorded in the last 6 months before that. Online casinos and online slots recorded 8% and 10% month-on-month drops, respectively.
UK’s Eased Measures Led the Gambling Sector into a New Phase
In the month of June, the government of the UK relaxed the restrictions on hospitality and leisure. Thus, land-based outlets like bingo halls, casinos, and arcades resumed operations on June 17. There was a 4% increase in the number of players to 11.3 million, with a major focus on the Euro 2020 markets. Sports betting experienced an increase of 9% in month-on-month active players to 5.6million. However, this failed to meet the 6million players it recorded in April and May.
The UKGC made a statement regarding this and said that:
It understands that the country is going into a new phase as it eases the restrictions from the lockdown. However, the commission will continue to observe how the circumstances have an impact on the consumers and operators.
It also pointed out that many individuals feel vulnerable as a result of the pandemic, and they deal with financial uncertainty.
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