Gambling Round-Up: UK Online Betting Leading the Way with £4.5 Billion Haul

UK online gambling bigger than ever.

UK online gambling is now the leading light in the industry after revenue topping £4.5 billion. (Image: gamerlimit.com)

The UK’s online betting industry is now a bigger cash cow than the National Lottery and high street betting shops.

According to a recent report by the UK Gambling Commission (UKGC), online betting revenue now accounts for 33 percent of all gambling in the UK.

Reviewing the period between April 2015 and March 2016, the industry’s Gross Gambling Yield (GGY) hit an impressive £4.5 billion.

The Biggest Player in Town

On top of making online betting the most lucrative sector in the industry, £4.5 billion is more than £1 billion more than the National Lottery (£3.4 billion) and high street betting shops (£3.3 billion) generated in the same period.

Despite the apparent dominance of remote gaming, the UK betting industry appears to be flourishing at the moment. Across all areas of the industry, UK gamblers wagered £13.6 billion between April 2015 and March 2016.

Also detailed in the report was a selection of additional industry stats, including the fact that there are now 167,839 gaming machines across the country, 8,709 betting shops and 104,89 employed by the betting industry.

Overall, the current figures suggest that the UK gambling industry is currently flourishing under the leadership of the UKGC.

Ladbrokes Coral Plotting a Big Move

In other betting news this week, Ladbrokes Coral, one of the UK’s largest betting operators, is looking to strengthen its market position by taking control of Australia’s Tabcorp.

Despite the merger between Gala Coral and Ladbrokes only being finalised at the start of November, the group is already looking towards Australia’s largest betting provider to increase its global presence.

According to reports, Ladbrokes Coral has appointed a team of advisors to work on a proposal that will likely make an offer comprised of cash and shares. While nothing has yet been finalised, it is known that Ladbrokes first made a bid for Tabcorp back in 2013.

That idea was quickly rejected by Tabcorp’s chief executive David Attenborough, but this time around the deal could be too sweet to turn down.

With the prospect of joining a newly merged entity and forming what would be one of the largest gambling operators in the world (estimated value would be £5 billion), Tabcorp could become a major player outside of Australia.

Before that can happen, however, negotiations will need to take place and, given the often turbulent nature of these talks, that means almost anything could happen in the coming months.

Another Football in Betting Foul

Finally this week, Newcastle United midfielder Jack Colback has accepted misconduct charges after falling foul of the FA’s betting ban. First uncovered in May by The Sun newspaper, Colback was found to have placed a football bet on March 16.

Although the FA haven’t revealed who or what Colback wagered money on, it’s understood it wasn’t himself or Newcastle United. Following a hearing on the matter, Colback admitted to placing a bet and was subsequently fined £25,000 for breaching FA Rule E8.

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