In 2024, Europe’s gambling industry marked a significant growth milestone, with the total gross gaming revenue (GGR) escalating to €123.4 billion, a 5% increment compared to 2023. This substantial growth is primarily fueled by the robust performance of the online gambling sector, which saw its revenue climb to €47.9 billion, thus increasing its market share from 37% in the previous year to 39%.

Online gambling’s expanding footprint:

The online gambling sector’s growth reflects a broader trend of digital adoption in the gambling industry, with mobile gambling playing a pivotal role. In 2024, 58% of the online gambling revenue was generated through mobile platforms, up from 56% in 2023. This shift is indicative of evolving consumer preferences, where convenience and accessibility are increasingly prioritized.

Despite the growth in online platforms, the land-based gambling venues continued to see a rise in their absolute revenue figures, reaching €75.5 billion. However, their relative market share declined from 63% to 61%, underscoring a gradual shift towards online gambling.

As stated in the EGBA’s report, the gambling products preferred by consumers showed notable differences between online and land-based platforms. Lotteries dominated the gambling market with €38 billion in revenue. While land-based lotteries contributed €30.9 billion, online lotteries garnered €7.1 billion, reflecting a strong traditional preference but growing online interest.

Casino Games displayed a reversal in trend where online platforms dominated by bringing in €21.5 billion out of the total €30 billion, contrasting with €8.5 billion from land-based casinos. Gaming machines remained purely in the physical realm, generating €24.9 billion, underscoring their popularity in traditional settings, while sports betting favored online platforms significantly, with €13.7 billion of the total €20.1 billion generated through online bets, highlighting the convenience and real-time capabilities of online betting.

Varied market dynamics across Europe:

The penetration rates of online gambling varied significantly across Europe. Nordic countries like Sweden, Finland, and Denmark saw exceptionally high online gambling revenues, making up over 68% of their total gambling revenue. In contrast, Spain recorded a much lower penetration rate of 14.2%, illustrating the diverse regulatory and cultural landscapes that influence gambling preferences.

Looking into the future, the European gambling market is poised for further expansion. It is projected to grow to €127.7 billion in 2025, representing a 3.5% year-on-year increase. Notably, online gambling is expected to achieve a significant threshold by capturing 40% of the total market share, driven by continued technological advancements and changing consumer demands.

Maarten Haijer, the Secretary General of EGBA, commented on the industry’s trajectory, “Europe’s gambling market showed steady growth in 2024. While land-based gambling remains dominant and continues to grow in absolute terms, online channels are showing stronger momentum, driven by changing consumer preferences and technological advancement.”

With predictions of online gambling reaching near parity with land-based venues by 2029, the future landscape of Europe’s gambling market is set to be shaped by ongoing innovations and a deeper integration of technology in gambling practices.