Growth of European Gambling Market Reaches €123.4 Billion by 2024, with Online Segment Seeing Steep Increase
Unleashing the Roaring European Gambling Market
Readying to roar even louder, the European gambling industry piled up a staggering €123.4 billion ($133.5 billion) in 2024, marking a slight 5% increase over the previous year. This explosive growth was outlined in a collaborative report by the European Gaming and Betting Association (EGBA) and H2 Gambling Capital.
Online Gambling Paves the Way
One of the most remarkable feats in the sector was the astronomical surge in online gambling revenue to €47.9 billion ($51.8 billion) in 2024, representing a continuation of the upward trend. Even as land-based gambling experienced growth too, reaching €75.5 billion ($81.6 billion), the internet gambling sector grew faster, showing a robust 58% reliance on mobile devices.
Intriguingly, while the market share of land-based gambling dipped from 63% to 61%, online gambling's share soared from 37% in 2023 to 39% in 2024. Projections suggest that the online gambling sector is set for further dominance, aiming to command a 40% market share by 2025.
Key insights from the report highlighted:
- Lottery games retained the title of major revenue generators at €38 billion ($41 billion), with the majority (€30.9 billion/$33.4 billion) of that figure coming from land-based channels.
- Casino games earned €30 billion ($32.4 billion), primarily online (€21.5 billion/$23.3 billion).
- Gaming machines remained solely land-based, contributing €24.9 billion ($26.9 billion).
- Sports and event betting raked in revenues of €20.1 billion ($21.7 billion), with online betting accounting for €13.7 billion ($14.8 billion).
European countries demonstrated varying levels of online gambling adoption, with Sweden, Finland, and Denmark emerging as early adopters, while Spain lagged behind with a mere 14.2% of gambling revenue from online channels. The UK reigned supreme as Europe's largest gambling market, with €30.8 billion ($33 billion), followed closely by Italy (€25.5 billion/$27.5 billion), France (€17.8 billion/$19.2 billion), and Germany (€17.7 billion/$19.1 billion).
Looking ahead, EGBA Secretary General Maarten Haijer underscored the sector's momentum: "The European gambling market experienced steady growth in 2024. Although land-based gambling remains powerful and continues expanding, online channels exhibit stronger momentum, driven by shifting consumer preferences and technological advancement."
Embracing a vivacious outlook for the online sector, Haijer further emphasized projections for 2025, noting: "We expect online gambling to surpass the significant 40% market share milestone, with this trend likely to persist in the coming years, as online gambling approaches parity with land-based gambling by 2029."
Anticipating an enhancement of €127.7 billion ($138.2 billion) in 2025, Europe's total gambling market is set to gallop towards €149.2 billion ($161.3 billion) by 2029, with online gambling leading the charge.
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- By 2025, online gambling is projected to surpass a significant 40% market share in the European gambling industry, according to the EGBA Secretary General Maarten Haijer.
- In 2024, online gambling generated €47.9 billion ($51.8 billion), showing a robust 58% reliance on mobile devices, a trend that is expected to persist in the coming years.
- Technological advancement and shifting consumer preferences are driving the stronger momentum of online channels in the European gambling market, as highlighted in the joint report by EGBA and H2 Gambling Capital.
