HM Revenue & Customs (HMRC) has recorded £1.62 billion in tax revenue collected from the UK gambling industry during the first six months of the 2022/2023 financial year. The latest figure is 11% higher than the tax income generated in the first half of the previous financial year which stood at £1.45 billion.
National Lottery and iGaming Biggest Contributors
From April to September 2022, the National Lottery and UK Remote Gaming contributed the biggest tax receipts at £490 million and £461 million respectively, but these figures represent a decline from last year’s results when tax revenue stood at £497 million and £501 million respectively for both categories.
The government collected higher Machine Gaming Duties (MGD) during the first half of the 2022/2023 financial year (£267 million). The same goes for General Gaming Duties (GGD) which generated £76 million in tax revenue so far.
These improvements in land-based gaming duties show that the land-based sector is continuing to recover, though recent results are still lagging behind the 2019 pre-pandemic figures.
Tax Income from iGaming Continues to Increase
Remote Gambling Duties (RGD) continues to record increased quarterly tax revenue, leading to a year-on-year rise in tax income over the previous three financial years, the HMRC noted.