European online gambling sector contributes significantly, accounting for approximately 40% of the entire market
Vibin' through the European Gambling Boom
The latest report from the European Betting and Gaming Association (EGBA) paints a thrilling picture of the European gambling market. Collaborating with H2 Gambling Capital, the association dives deep into the dynamics of the online gaming scene.
Welcome to the Future: Online Gambling's Dominance in Europe
Did you know the European gambling market topped €123.4 billion in 2024? That's a whopping 5% increase from the year before. But here's the twist – online gaming is stealing the show! Last year, it raked in €47.9 billion, with a jaw-dropping 40% market share. Even the mighty land-based sector, earning €75.5 billion, can't compete with online's fierce momentum.
In an exclusive statement, EGBA Secretary General, Maarten Haijer, highlighted this trend. He foresees online gambling breaking the 40% market share milestone in 2025, and potentially catching up to land-based gambling by 2029. While the land-based sector drops slightly from 63% to 61%, it holds strong, thanks to consolidations keeping the interest in in-person gambling alive and well.
Lottery Leads the Pack
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The lottery remains the undisputed boss of the European gambling sphere, accounting for €38 billion in revenue in 2024. Most of that (€30.9 billion) came from brick-and-mortar stores, while the remaining €7.1 billion was snatched by online lottery operators. Staying close behind is casino games with €30 billion in revenue, split between online (€21.5 billion) and land-based (€8.5 billion) sectors.
Europe's Growing Betting Bonanza
The European gambling market is set to explode even further in 2025, with a projected total gross gaming revenue of €127.7 billion, representing a 3.5% increase. Online gambling is expected to take a hefty €51.1 billion slice of that pie, while the land-based sector keeps a steady €76.6 billion. By 2029, the entire European gambling market is expected to balloon to a staggering €149.2 billion, with online gambling expected to bring in an impressive €66.8 billion.
So there you have it! The European gambling market is bursting at the seams with growth, and online gambling is on a roll. Whether you prefer placing your bets online or in person, Europe's gambling scene has never looked brighter!
Credit for images: Unsplash.com
Insight: The European gambling market is thriving, with online gambling taking a larger share and increasing in revenue each year. Though the land-based sector still generates a considerable amount, the online segment is expected to catch up in the coming years. The Nordic countries, such as Sweden, Denmark, and Finland, are leading the online gambling market, and the United Kingdom remains the market leader overall. Key markets like Italy and the United Kingdom continue to hold strong positions in the land-based gambling sector. By 2029, the European gambling market is projected to be worth €149.2 billion, with online gambling expected to bring in €66.8 billion of that amount.
Sports betting is a significant part of the growing online gambling market in Europe, contributing to the €47.9 billion online gaming revenue in 2024. As technology advances, online gaming, including sports betting, is predicted to overtake the land-based sector and capture up to 70% of the European gambling market by 2029. European gamblers are increasingly opting for the convenience and accessibility of casino games and sports betting through online platforms rather than traditional land-based casinos.
