Posted In: Online Casino By: bwright
The UK Gambling Commission has released the results of research that shows that the remote gambling industry in the UK was worth £896 million in 2008.
To compile the results, the Commission took detailed statistics from a variety of sources such as gambling industry trade bodies, the Department for Culture, Media And Sport, Her Majesty’s Revenue And Customs and from regulatory returns that all licensed gambling operators must submit.
The Commission found that the UK gambling industry turned over more than £84 billion in 2006/2007. Gross gambling yield was found to be around £9.9 billion, with one-quarter of that generated by the National Lottery.
The number of remote gambling licenses issued also increased from 300 to 328 in 2008.
The Commission’s results read that “The majority of gambling sites accessible to British citizens are regulated overseas.”
“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.”
It as also found that the UK remote casino, betting and bingo industry employed 7,800 people in 2008. All up it was reported that there were 16 million customer accounts, 6.2 million active customer accounts and 4.9 million new players. In total all of the accounts hold around £257 million.