Wednesday, September 23, 2009

British online gambling sector valued at close to a billion sterling

The UK Gambling Commission has released some stats estimating that their remote (online) gambling market is worth approximately GBP 896 million (2008).

The Commission compiled information from gambling industry trade bodies, the Department for Culture, Media And Sport, and Her Majesty's Revenue and Customs, in arriving at the figure, in addition to information from its own regulatory returns submitted by operators.

The United Kingdom gambling industry as a whole achieved a turnover of over GBP 84 billion with gross gambling yield at approx GBP 9.9 billion, 25 percent of which was generated by the National Lottery.

The number of remote gambling licenses issued in 2008 rose from 300 to 328, with the majority of these consisting of betting exchanges alongside football pool and general betting.

"The majority of gambling sites accessible to British citizens are regulated overseas," the Commission pointed out.

"In many cases an operator is licensed by the Commission for remote betting but (for fiscal and other operational reasons) its remote casino and poker operations are licensed overseas. The main European overseas jurisdictions regulating remote gambling are Alderney, Gibraltar, the Isle of Man and Malta."

The report shows that an estimated 7,800 people are employed in the UK remote betting, bingo and casino industry, working with approx 6.2 million active customer accounts and 4.9 million new player registrations over the year. 16 million customer accounts held GBP 257 million.

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