Booming European Gambling Market Breakdown: 2024's Record-Shattering €123.4 Billion Industry
Growth of European Gambling Sector Reaches €123.4 Billion by 2024, Online Segment Widens Rapidly
In 2024, the European gambling industry raked in an impressive €123.4 billion ($133.5 billion), marking a 5% surge from the previous year. This jaw-dropping figure is the product of collaborative research by the European Gaming and Betting Association (EGBA) and H2 Gambling Capital.
Online Gambling's Rising Tide
Online gambling saw an incredible €47.9 billion ($51.8 billion) in revenue in 2024, a continued upward trend. Although land-based gambling also grew, it fell slightly behind at €75.5 billion ($81.6 billion). The internet gaming industry, however, managed to outpace its traditional counterpart with swifter growth. The surge was largely fueled by mobile devices, which accounted for 58% of online gambling income.
Tech-savvy consumers and advanced gambling platforms drive the online gambling market's robust growth.
- Larger screens, faster internet speeds, and user-friendly interfaces attract more gamblers to online platforms, enabling seamless gaming experiences on smartphones and tablets.
Market Share Tipping Point
With the market share of land-based gambling decreasing from 63% to 61%, while online gambling increased from 37% in 2023 to 39% in 2024, online gambling is poised to fortify its position in the market. Experts predict that Internet gambling will achieve a 40% market share by 2025, further cementing its significance in the industry.
Key Game Categories:
- Lotteries dominated the scene, earning €38 billion ($41 billion), with most of it coming from land-based channels.
- Online casino games generated €30 billion ($32.4 billion) in revenue, thanks to innovative games and attractive bonuses.
- Gaming machines remained purely land-based, contributing €24.9 billion ($26.9 billion).
- Sports and event betting saw a whopping €20.1 billion ($21.7 billion), with online betting accounting for €13.7 billion ($14.8 billion).
Countries' Gambling Adoption:
European nations showed varying degrees of online gambling penetration, with Sweden (68.3%), Finland (68.1%), and Denmark leading the pack. Spain languished behind with only 14.2% of gambling revenue from online channels.
Market Leaders:
The UK reigned as Europe's largest gambling market with €30.8 billion ($33 billion) in revenue, 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).
EGBA Secretary General Maarten Haijer acknowledged the dynamics of the gambling market with optimism:
"Europe's gambling market demonstrated steady growth in 2024. While land-based gambling remains dominant, online channels exhibit stronger momentum, driven by consumers' changing preferences and technological progress."
Furthermore, he looked forward to online gambling crossing the 40% market share milestone in 2025 and continuing this trend over the coming years, approaching parity with land-based gambling by 2029.
The report anticipates Europe's total gambling market to swell to €127.7 billion ($138.2 billion) in 2025 and potentially reach €149.2 billion ($161.3 billion) by 2029, with online gambling spearheading this growth.
Looking Forward: A Bright Future for Online Gambling
The explosive growth in the European gambling market is attributed to increasing internet and smartphone penetration, innovation in platforms, and expanding gaming options. The overall global online gambling market is predicted to reach USD 169.22 billion by 2030, growing at a compound annual growth rate (CAGR) of about 10.44%. Europe, being a significant contributor to this market, is poised for tremendous growth in the coming years.
Sources:
- CAGR calculation based on figures provided in the report
- All revenue figures from the European Gaming & Betting Association report
- Projections derived from market research reports and analysis
- France gaming market growth derived from French gaming regulator reports and news articles.
- The explosive growth in the European gambling market is driven by technological advancements, such as increasing internet and smartphone penetration, and innovative online gaming platforms.
- By 2030, the global online gambling market is predicted to reach USD 169.22 billion, demonstrating a robust lifestyle that continues to evolve with the integration of technology.
