Online gaming revenue in the UK was $759 million in March, while the UK remained on lockdown
Date published: May 6, 2021, 03: 06 hrs.
Last updated: May 6, 2021, 03: 30 hrs.
Online gambling in the UK continued to grow in March as the vast majority of Brits continued to be blocked from staying at home by injunctions.
The UK Gambling Commission (UKGC) reported record online slot machine revenue for one month this week. The interactive gaming platforms reported that their machines generated GGR of 202. 9 million 282 million). This is an increase of 4.1% over February and is the highest iSlot profit in UK history.
In addition, online traders retained £250. 5 million ($ 348 million) worth of players' sports bets. Combined with online table games, which produced a GGR of $99 million , online poker, e-sports betting and other online gambling formats, the March GGR for iGaming was a staggering £546 0.2 ($759 million).
UK Prime Minister Boris Johnson has allowed major betting shops to reopen from April 12. Previously, betting and gaming companies had to remain closed due to an increase in new COVID - 19 cases have strangled the UK.
Doubts about online gaming
The UK gaming industry is undergoing a thorough review by the Department for Digital, Culture , Media and Sport (DCMS). The parliamentary agency is reviewing all regulations imposed by the 2005 Gambling Act, which governs the ever-growing industry.
The DCMS is also considering pushing out new protocols by gambling critics. One key issue is whether the UKGC should require online gambling operators to limit how much a person can lose before requiring that person to prove they can afford the additional losses.
The Social Market Foundation, a respected independent policy think-tank in the UK, has called on parliament to force iGaming companies to conduct "affordability checks" after a gambler loses £100 ($ 139) in a single month.
This is a key area that needs to be addressed because while some operators have continued to improve their processes for interacting with customers, our evidence shows that many online operators are not setting action thresholds at appropriate levels ", explains a recent UKGC statement on online limits. "They are not taking appropriate action or not acting quickly enough when they recognise the risk of potential harm."
The gambling industry in the UK opposes such a measure because operators already have adequate safeguards in place to combat potential problem gambling.
Bricks and mortar at a disadvantage
It's been a devastating 24 months at major betting outlets, long a staple of British cities and small towns. On April 1, 2019, the maximum bet on a fixed odds betting terminal (FOBT) - devices that operate similar to slot machines - was slashed from £100
to as little as £2 ($ 139 to $2. 80).
The regulatory adjustment has given more than 1, 000 major bookmaker shops are closing and many thousands of employees are being laid off. COVID - 19 and the resulting non-essential businesses, including bookmakers, have seen many other betting companies close their doors.
In the meantime, online slots are not subject to the maximum £2 per bet nor have they been forced to close during the pandemic .