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iGaming will represent more than 40% of all European gambling revenue in 2025,fogo777 cassino according to a new report from the European Gaming & Betting Association (EGBA).
The international trade body, in partnership with H2 Gambling Capital, yesterday (24 March) issued a report noting Europe saw €123.4bn in GGR during 2024, up 4% from the previous year.
Of the total, €48.9bn was from online gambling platforms, representing 39% of the market, while the remaining €75.5bn came from land-based sources.
The figures compare to the $71.9bn (€66.5bn) revenue reported in the US market last year, representing a 7.2% rise, according to figures released by the American Gaming Association (AGA).
EGBA secretary general Maarten Haijer said: “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.”
EGBA highlighted the continued growth of online gambling’s market share on the continent, which increased from 37% in 2023.
This, it said, resulted from evolving consumer preferences including via increased mobile phone usage.
EGBA highlights remaining differences
The report also pointed to substantial differences between European gambling markets.
For example, online gambling penetration varies from as high as 68.3% of total gambling revenue in Sweden, to as low as 14.2% in Spain.
Meanwhile, the UK remains Europe’s largest gambling market with total revenue of €30.8bn in 2023.
This compares to Italy’s €25.5bn, the €17.8bn reported in France and €17.7bn in Germany, with local regulatory frameworks and player preferences influencing the different product usage.
Looking ahead, EGBA projects Europe’s gambling market to grow to €127.7bn in 2025, up 3.5% from 2024 and comprising €51.1bn in online revenue compared to €76.6bn in land-based.
Longer-term, the overall market is expected to reach €149.2bn revenue by 2029, driven by 6.9% annual iGaming growth and a more modest 1.8% per year land-based increase.