Gambling & Betting Activities in the UK - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

Revenue is forecast to contract at a compound annual rate of 1.2% to £16.1 billion over the five years through 2024-25. The government has tightened regulations surrounding gambling and betting activities in recent years, including reducing the maximum stake on fixed-odds betting terminals from £100 to £2 and increasing the Remote Gaming Duty, a tax on gambling profits, from 15% to 21% in April 2019. The Gambling Commission brought these in to curb gambling addictions and control the remote gambling segment, though such regulation has hurt revenue and profitability.

Trends and Insights

• Online betting is growing, reducing demand for brick-and-mortar bookies.
• Brick-and-mortar bookies continue to decline as online gambling sites continue to grow post-pandemic. Easy accessibility and convenience give online betting the edge.
• Online betting offers a wide array of betting options. The convenience of betting anywhere whilst having a wide range of betting options gives it an edge. London benefits from high average disposable income.
• Consumers in the capital tend to have higher incomes, which leaves higher disposable income to spend on gambling activities, to the benefit of the industry. Well-known names dominate the industry.
• Big names in the industry like Ladbrokes, Coral and William Hill dominate the industry and benefit from brand recognition as betters often stick to what they know.

Industry Overview

Industry revenue has declined at a CAGR of 1.2 % over the past five years, to reach an estimated £16.1bn in 2024.

Trends and Insights

Online betting continues to flourish and drive the industry forward Online betting continues to expand in the UK, with customers preferring the accessibility and convenience of betting anywhere they want.

Industry outlook (2024-2029)

Market size is projected to grow over the next five years.

Trends and Insights

• The Euros and the Olympics are set to increase revenue performance
• Gambling businesses reap the benefits of major sports events due to the mass of customers placing bets on these events. Large sporting events, such as the Olympics, Euros and Copa America, are taking place this summer in 2024, which can fuel revenue opportunities for sports companies.