"Online total Gross Gambling Yield (GGY) totalled £1.42 billion. That was a figure 8 percent higher than in the same period for the previous year. Real event betting GGY also increased with the total of £508 million being 12 percent up year-on-year. Despite those new stake limits, the GGY for online slots was up 9 percent to £747 million. The number of spins rose by 4% to 24.4 billion."
"Remote gaming duty is going to increase from 21% to 40% in April. This is a move that has been strongly criticised by gambling companies and there has been talk of cuts needing to be made in the future. This may not be just in terms of staff redundancies but also smaller bonuses being offered to customers. Another problem for UK gambling companies this year will be new rules regarding bonuses and promo codes as per gamblermedia site."
Online total Gross Gambling Yield (GGY) totalled £1.42 billion, eight percent higher year-on-year. Real event betting GGY rose 12 percent to £508 million. Online slots GGY increased nine percent to £747 million while spins rose four percent to 24.4 billion, both recording second-quarter highs. Maximum stakes for online slots now cap 18–24-year-olds at £2 per spin and older players at £5 per spin. Those stake limits did not reduce revenue in the measured quarter. Remote gaming duty will rise from 21% to 40% in April, prompting operator concerns about profitability, potential staff cuts and smaller customer bonuses. Wagering requirements for promotions will be capped at 10x from January.
Read at Business Matters
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