According to information provided by the UK Gambling Commission (UKGC) analysed by the National Audit Office (NAO), licensed gambling operations in the UK saw a 57% growth in the ten years to 2018-19. Also, the overall gross gambling yield, excluding the National Lottery, generated by gambling companies on the territory of the UK in 2018-19 amounted to £11.3 billion.
The significant increase registered in the licensed gambling in the country represented a £4.1-billion growth and was largely considered to be due to a rise in online and mobile gambling operations. According to the analysis provided by the NAO, gambling companies’ yield from licensed online gambling operations increased from £1 billion to £5.3 billion in the ten-year period from 2009 to 2019. On the other hand, the full extent of online gambling in the country was not reported, as online gambling businesses based outside the UK were not required to be licensed and regulated by the country’s gambling watchdog before the 2014 Gambling Act.
As CasinoGuardian has reported, online gambling has rapidly surged in volume over the last few years. As the chief executive officer of the financial advice website OpenMoney explained, gambling over the internet or via mobile applications has made gambling simpler, easier and much more convenient for users.
When online, customers are able to easily place bets and deposit money through simple card transactions. For many people, the availability of digital gambling 24/7 has wiped out the need to visit a betting shop during operational hours.
UK Government and Gambling Regulators Aim at Tackling Spreading Gambling Addiction
Despite anti-gambling campaigners’ calls for the Government to tackle spreading gambling addiction, the NAO report has revealed that the authorities do not have the same quality of evidence on the actual causes of problem gambling as they do on other public health issues.
Still, the report provided by the NAO has noted that gambling can have a significant negative impact on individuals, including large-scale financial losses, mental health problems and relationship difficulties. As explained by the director of external affairs at the Money Advice Trust, Jane Tully, gambling is considered one of the hidden causes of debt that could have a massive negative effect on people’s lives.
In order to prevent the spreading of problem gambling across the country, the Government and the UKGC have been taking measures to tackle rising gambling addiction rates in the country. The beginning of the year saw the major UK gambling regulatory body unveil its decision to ban local residents from using their credit cards for placing bets. The measure was unveiled as part of the UKGC efforts to protect the most vulnerable members of society.
Some British banks are also aimed at helping consumers self-exclude from gambling by providing them with the chance to block gambling transactions from their accounts.
- Author
Daniel Williams
