Data gathered and calculated by GoldenCasinoNews.com indicates that UK gambling and betting revenues will drop 17 per cent by 2024.
The data projects that revenue will keep declining in the coming years to record $70.5bn in four years. In 2020, it is projected that the revenue will be $79.83bn, while estimates for next year are $76.98bn, a drop of 3.7 per cent.
By the end of 2022, the sector’s revenue will be $74.42bn, which will later slump by 31.1 per cent to record $72.12bn in 2023. Over the last eight years, the highest returns were in 2013 at $114.31bn, an increase of 6.7 per cent on the previous year.
According to the report: “Generally, gambling and betting sector revenue has been declining since 2012 due to various factors fuelled by a change in legislation.”
There was a slight dip in revenue between 2014 and 2015 when the sector registered $95.96bn and $94.47bn respectively. There was a slight increase in revenue in 2017 when the sector recorded $101.02bn.
The revenue comes from the UK gambling and betting industry which is segmented in online gambling, bingo halls, casinos, and lotteries.
Elsewhere, by 2019, there were 90 entities with a turnover of more than £5m. This figure has dropped from 95 recorded in 2018. The lowest figure for enterprises to record a turnover of more than £5m was between 2014 and 2015 when it stood at 75.
In recent years, the UK has been on the forefront to curb betting addition and consumers racking up debts. As a result, the authorities have prohibited gambling using credit cards as one of the stringent measures.