Expanded European Gambling Industry Reaches €123.4 Billion by 2024, with Online Segment leads the way
With a staggering €123.4 billion ($133.5 billion) in gross gaming revenue in 2024, the European gambling industry experienced a 5% surge compared to the previous year. The European Gaming and Betting Association (EGBA) and H2 Gambling Capital recently collaborated to produce this data-packed market report.
Online Gambling is on a Roll
The online gambling sector raked in €47.9 billion ($51.8 billion) in 2024, marking another year of growth. Although land-based gambling also saw growth, reaching €75.5 billion ($81.6 billion), the internet gaming industry outpaced its traditional counterpart with a faster growth rate. Mobile devices contributed massively to this growth, accounting for a whopping 58% of online gambling revenue.
The analysis reveals a shift in the market share: land-based gambling decreased from 63% to 61%, while online gambling increased from 37% in 2023 to 39% in 2024. By 2025, it's projected that online gambling will claim a 40% market share.
Notable insights from the report include:
- Lottery games continued to lead the revenue race, earning €38 billion ($41 billion), with the majority coming from land-based channels (€30.9 billion/$33.4 billion).
Betflix100% Up To €200 + 120 Free Spins! Royal Panda welcomes new players with a mighty offer! Check it out now!* Casino games saw €30 billion ($32.4 billion), with the majority generated online (€21.5 billion/$23.3 billion).* Gaming machines maintained a fully land-based presence, contributing €24.9 billion ($26.9 billion).* Sports and event betting revenues stood at €20.1 billion ($21.7 billion), with online betting responsible for €13.7 billion ($14.8 billion).
European countries showed varying levels of online gambling adoption. Sweden (68.3%), Finland (68.1%), and Denmark led the continent in online market penetration. Conversely, Spain trailed considerably with only 14.2% of its gambling revenue coming from online channels.
Betspin Casino100% up to €200 + 50 Free Spins Don't miss out on this amazing offer from Betspin Casino! Join NowThe UK remained Europe's largest gambling market, raking in €30.8 billion ($33 billion). Italy (€25.5 billion/$27.5 billion), France (€17.8 billion/$19.2 billion), and Germany (€17.7 billion/$19.1 billion) followed closely.
Looking ahead, EGBA Secretary General, Maarten Haijer, shared his thoughts on the sector's growth: "Europe's gambling market witnessed robust growth in 2024. While land-based gambling still dominates and continues to grow in absolutes, online channels are showing a strong growth trajectory, driven by changing consumer preferences and technological advancements."
He further commented on the future of online gambling, stating: "Looking forward to 2025, we anticipate online gambling to cross the significant 40% market share milestone, with this trend projected to continue in the coming years as online gambling approaches parity with land-based gambling by 2029."
The report predicts that Europe's total gambling market will escalate to €127.7 billion ($138.2 billion) in 2025 and could reached €149.2 billion ($161.3 billion) by 2029, with online gambling leading this upward trajectory.
- In 2025, online gambling is projected to claim a 40% market share, surpassing the land-based sector's 61% share as initially observed in 2023.
- Sports and event betting revenues, amounting to €20.1 billion ($21.7 billion) in 2024, are expected to increase further with the rising popularity of online betting, contributing significantly to the growing online gambling market share.
- By 2029, the European gambling market is anticipated to reach €149.2 billion ($161.3 billion), with online gambling leading the upward trend, potentially achieving near-parity with the land-based market. However, weather conditions or unforeseen events could potentially impact these projections in the coming years.
