Is the affordability checks saga in UK online gambling sites about to quieten? Relief for operators as only around 3% of gamblers will trigger the check. (Photo by Nick Pampoukidis on Unsplash )
To curtail the potential financial repercussions experienced by gamblers, the UK Gambling Commission (UKGC) and the UK government have initiated new financial safeguards. One of the most renowned within the UK gambling field is the introduction of affordability checks.
One of the initial concerns reported here on Livecasinocentral was the number of gamblers against these checks. Our news piece – Recent YouGov Poll Reveals 58% Against Affordability Checks– highlighted this.
However, a recent statement by UKGC Chief Andrew Rhodes says that these preventative measures will predominantly affect a nominal percentage of gamblers, aiming to strike a delicate balance between the liberties of gambling enthusiasts and the urgency to mitigate potential downfalls associated with gambling.
These stats are likely down to a percentage of people who gamble an amount that would meet the threshold required to trigger the affordability check.
One of the fears for most gambling companies is that the affordability checks will deter players from betting or playing casino games on their platforms. Mainly because they feel the affordability checks are invasive.
Yet, the latest comments by Andrew Rhodes say only around 3% of people will be affected will have many operators holding UKGC licensing breathing a sigh of relief.
How Much Do UK Gamblers Bet?
One of the reasons the affordability checks may not be commonplace for most gamblers is the stats on UK gambling.
In the 12 months leading up to March 2022, the UK’s gambling sector garnered a substantial revenue, amounting to £14.1 billion. In the following year, until March 2023, nearly half (44%) of the British population engaged in gambling activities at least on one occasion. On average, an individual spends £141 annually or £2.70 weekly on gambling activities.
The number of individuals grappling with gambling issues in the UK has surged by 50%, reaching an approximate count of 168,149, with the age group of 20-24 being the most susceptible to developing gambling problems.
Moreover, men are more than seven times more prone to fall into problematic gambling habits than women. The year 2023 saw 27.6% of the British populace participating in the National Lottery. Between April 2022 and March 2023, adults in the UK allocated a combined total of £3.3 billion on betting and gaming activities.
Notably, there was a significant 78.4% elevation in monthly online gambling engagement in March 2023 compared to figures from April 2020. Furthermore, betting on actual events online saw a 35% hike in popularity compared to online slot games, while there seems to be no mention of live casino games.
The study providing the stats above was undertaken by finder.com. The report also contains information about How many people gamble in the UK and the most popular forms of gambling. Surprisingly it says fruit or slot machines account for just 3.3%.
Forthcoming Strategies and Insights – Consultations in Progress
Expected to be unveiled by the summer of 2024, a nascent blueprint addressing advertising regulations and mandating bookmakers to fund authorised research is under discussion. With a commitment to carving out a space that accommodates the enjoyment of gambling while curtailing potential hazards, the UKGC and government anticipate future adjustments based on thorough research and analysis.
You can catch up on the current state of the White Paper consultation via our previous news – UK White Paper Reform Consultations & Gambling Research.
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