The UK gaming industry is reporting record revenues of £15.1bn in the year to March 2023, which marks a significant growth from the £1.5bn hit during the peak of the Covid-19 pandemic.
Online slot machines have been identified as a significant contributor to the industry’s success with revenues from digital slot machine games reaching a record £3.2bn, accounting for nearly 30% of the sector’s total income.
Concerns over addiction
Online slot casino products, especially slots, have contributed to record-high losses, exceeding the pre-pandemic figures.
The average spend per player on slots is £67 a month, significantly higher than other casino products or real event betting.
These figures therefore have sparked government concerns related to gambling addiction.
According to a 2018 NHS survey, online casino products, particularly slots, show a higher rate of addiction compared to sports betting.
Consultations
The UK’s Gambling Commission (UKGC) is currently consulting on whether to impose limits on the maximum stake for a single spin.
This metric is not restricted for the time being with a proposed range of between £2 and £15.
The figures being reported on slot machine spending and losses are a major component for this measure.
Call for stringent restrictions
Dr Matt Gaskell, head of the NHS Northern Gambling Service has been a great proponent of the UKGC’s consultations and has emphasised the risks related to gambling by stating:
“This data confirms that the centrepiece of the gambling industry are the most harmful products. These are rapid, continuous casino products engineered to prolong play, exploit decision-making, and generate unaffordable losses. It’s a common issue in our clinics.”
Similarly, Carolyn Harris has criticised gambling companies for prioritising profit over public harm.
She has urged the government to set a £2 limit for online slots and not be swayed by industry interests stating:
“Gambling companies continue to rake in huge profit from slots which are highly addictive and causing great harm to people right across the country.”
SiGMA Eurasia
SiGMA’s world-renowned summits will return in 2024 when SiGMA Eurasia graces the industry’s calendar once again. Dubai will be the host yet again for the much-anticipated conference and exhibition from the 25th – 27th of February. Get your tickets now to ensure you won’t miss out!
