The European Gaming and Betting Association (EGBA) has revealed that Europe’s betting market recorded total gross gambling revenue (GGR) of €123bn in 2024.
Spanning across all of the EU-27 and UK gambling jurisdictions, the latest report – co-produced with H2 Gambling Capital – utilised aggregated data and forecasts to predict a YoY increase in European online gambling revenue.
The figure consisted of online gambling revenue of €47.9bn coupled with land-based revenue of €75.5m. Online revenue was up 2% YoY, representing 39% of total European revenue (2023: 37%), with mobile devices the dominant choice, generating 58% of online revenue (2023: 56%).
A 2% difference was also seen in the total market share of land-based gambling in Europe, but this time showing a downward spiral – from 63% in 2023 to 61% in 2024.
Both statistics are a visual representation of the changing preferences of European customers.
Gambling product breakdown shows lottery as the highest-valued segment, with €38bn product revenue in 2024. Land-based lottery products were the most prominent (€30.9bn), with online taking the second place (€7bn).
Casino games (€30bn) experienced a reversed trend, where online gambling held the highest value (€21.5bn), while land-based products were capped at €8.5bn in revenue.
Exclusively land-based, gaming machines brought in €24.9bn in revenue – a good performance given that they are limited to only one vertical.
Revenue from sports and events betting came in at €20.1bn for the full 2024, primarily driven by a demand for online products (€13.7bn).
Results showed a strong contrast between EU jurisdictions when it comes to market variety, EGBA further revealed. Sweden, Finland and Denmark had online gambling penetration rates of more than 68%, while this metric was just 14.2% in Spain.
Listed by the size of their gambling market, the UK was still at the top with a total value of €30.8bn. Italy came in second at €25.5bn, followed by France with €17.8bn and closely followed by Germany with €17.7bn.
EGBA believes that the EU gambling market will continue to grow in 2025, reaching €127.7bn in value by the end of the year (up 3.5% YoY). Online gambling is expected to reach 40% of the total market share and full-year revenues of €51.1bn.
The trade body is also expecting land-based gambling to grow, albeit modestly, reaching €76.6bn by the last day of this year’s December.
Maarten Haijer, Secretary General of EGBA, commented: “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.
“Looking ahead to 2025, we expect online gambling to cross the significant 40% market share milestone, with this trend projected to continue in the coming years as online gambling is expected to approach parity with land-based gambling by 2029.”
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