Since the advent of online gaming, more and more slots sites have been appearing on the scene. In the UK, the gambling commission has licensed one thousand remote gambling sites and the majority offer wizard slots games. Slots games can be found on sites which are dedicated not just to offering slots titles, but on online casino sites and even bingo sites too! Slots are very popular with the players which means they’re very popular with site operators too.
Gambling Revenues in the UK
The gambling industry in the UK continues to see year on year revenue increases. It is calculated that the gambling sector in the UK generates a whopping £14.26 billion per year. And this figure is measured as gross gambling yield which is income minus winning pay-outs. Revenues will actually be much higher!
The following two tables look at gambling yield and games revenues in greater detail:
|Gambling Sector||Gross Gambling Yield (£m)|
|Betting (non – remote)||2,811.67|
|Bingo (non – remote)||668.95|
|Casino (non – remote)||1,052.74|
Gross Gambling Yield by Sector Oct 2018 – Sept 2019
The table above shows gross gambling yield (GGY) £m by sector for the year 2018 – 2019. Remote gambling sites which are online generate almost revenues worth over 5bn, of which slots contribute significantly.
The table below presents a break – down of the remote casino gross gambling yield figure even further.
|Remote Casino Game||Revenue £m|
Remote Casino Game Revenues £m 2018 – 2019
The remote casino game figures illustrate just how good a revenue slots can produce! Slots revenues knock blackjack and roulette revenues out of the park! Online slots actually contribute 69.3% of value to the gambling sector in the UK. Remote blackjack comes in third place contributing 6.1%. As you can tell from these figures, slots sites certainly generate a very good revenue.
Why are slots sites so popular?
Slots generate huge revenues. In November 2020, the gambling commission reported a month – on – month decrease in remote gross gambling yield (GGY), however, slots (GGY) increased by 3%. The popularity of slots sites just keeps continuing to skyrocket and it is thought it could be thanks to some of the following reasons:
· The attractive welcome bonuses which slots sites offer.
· The wide variety of slot titles offered means slots sites are never boring!
· Convenience – nowadays it’s super easy to enjoy the slots from the comfort of your own living room.
How new regulations will affect revenues
What will be interesting to see is whether online slots revenues will be affected by new regulations due to come into force this year. For example, from the 31st of October 2021 all licensed online sites must slow down the speed of slots games, remove auto – play options and if a player loses slots games can no longer play positive sounding noises. These regulations are being brought it to further safeguard players against problem gambling and they are focused on slots games in particular. Will slots revenues still continue to be so high? Only time will tell.