Europe’s Online Gambling Market Sees Major Growth
The online gambling market across Europe is witnessing substantial growth, marking a notable recovery and expansion since the disruptions caused by the COVID-19 pandemic. Reports indicate growth rates of approximately 4.58% for the overall gambling market, and 7.84% for online gambling alone, as documented by H2 Gambling Capital.
According to the data from 2023, the total gambling revenue reached €131 billion, with online gambling comprising about 39% of this figure, amounting to €51 billion. The shifting dynamics of the market have been largely influenced by the temporary closure of physical casinos during the pandemic, pushing customers to seek online alternatives. Specifically, the lottery segment generated €38 billion, followed by sports betting at €33 billion, online casinos with €30 billion, and gaming machines contributing €26 billion.
Sports betting has emerged as one of the most popular pastimes among Europeans, significantly fueled by major sporting events like the UEFA European Championship and the FIFA World Cup, which have both ignited increased online betting activity. Projections show promising growth trajectories for both sports betting and lottery sectors, with predictions of compounded annual growth rates of 8.6% and 8.4%, respectively, through 2029.
Despite the increasing popularity and entertainment value of online gambling, concerns surrounding gambling addiction have surfaced. The European Gaming and Betting Association (EGBA) conducted a study highlighting problematic gambling rates across Europe, ranging from 0.3% in Ireland to 6.4% in Latvia. Portugal, too, has reported alarming figures, as data from gambling helplines show requests for online gambling addiction support rose drastically from 39.58% to 48% between 2023 and 2024.
To address this burgeoning issue, EGBA members have committed over €140 million over the past four years to initiatives aimed at mitigating gambling-related harm, including contributions of €61 million made just last year. “Player protection is an ever-evolving venture—there’s always room for innovation and improvement, and our members are dedicated to enhancing their approaches for safer gambling,” stated Maarten Haijer, the Secretary-General of EGBA.
The industry is also facing regulatory challenges as it contends with competition from unregulated sites and apps located outside the EU. Barry Magee, the Senior Communications Director at EGBA, noted, “These platforms do not adhere to the safeguards we uphold within Europe for players, nor do they pay taxes.” H2 Gambling Capital’s estimates suggest approximately 21% of total online gambling activity within Europe will take place outside regulated environments by the end of 2023, resulting in unregulated market earnings around €13 billion.
While pressing for stronger enforcement against non-EU based operators, Magee emphasized the need for the regulated gaming environment within Europe to be attractive enough for players, thereby reducing the pull toward unregulated options. This dual approach—increased regulation and enhanced player incentives—could move the needle significantly toward safer online gambling practices.
Overall, the growth of the online gambling market offers both opportunities and challenges, as stakeholders seek to balance profitability with responsible gaming practices. Whether by spurring economic benefits or tackling gambling addiction, the stakes are high—not only for the industry but for individual players as well.
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