UK-licensed online gambling operators enjoyed a 22% year-on-year increase in gross gaming yield (GGY) for the 2014 fiscal year, according to Gambling Commission industry statistics.
A total of £1.14bn GGY was generated from online gaming between 1 April 2013 and 31 March 2014, 86% of which came from sports betting.
Online gambling made up 17% of the UK's total GGY.
The update covers 1 April 2013 to 31 March 2014 and analyses all online operators with a UK Gambling Commission (UKGC) licence.
UKGC has estimated that only 15% of the UK online market was accounted for by its licensees, although this is the last year before regulatory changes come into effect.
All operators wishing to offer and/or promote a remote gambling service in the UK are now required by law to obtain a licence from UKGC, meaning far higher revenues are to be expected next fiscal year.