The gambling industry in Great Britain made £16.8 billion from consumers in the year to March – a 7.3% increase compared to the previous year, official figures show.
The Gambling Commission reported that online gambling drove the rise in "gross gambling yield" (GGY). The sector grew by more than £900 million to reach £7.8 billion annually.
Remote casino, betting and bingo operations now make up 46% of the British market, according to the regulator. Land-based gambling facilities account for 29% with £4.8 billion in GGY. Licensed lotteries including the National Lottery and society lotteries contribute the remaining 25% at £4.2 billion.
Tax increase under consideration
The statistics come as reports suggest the Chancellor could announce higher tax rates for bookmakers on online earnings in Wednesday's Budget.
Two influential think tanks have weighed in on the issue. Both the IPPR and SMF recommend more than doubling the remote gaming duty (RGD) to 50%. The tax applies to online games of chance and represents the largest gambling duty due to the sector's rapid growth.
Note: This article was created with Artificial Intelligence (AI).
