How Big is the European Gambling Market?

February 3, 2022 Europe Earnings & Filings

Analyzing the Growth

Over the course of 2021, the online gambling market in itself increased its revenues to 36.4 billion Euros. It’s also worth noting that the total 2021 gambling market revenue in Europe is down by 13% as compared to how the market performed prior to the start of the pandemic. That’s because land-based gambling revenue has only experienced a marginal increase of 0.4%, amounting to approximately 50.8 billion Euros. It’s clear from these numbers alone that the online gambling sector is the one that is steering the ship for the gambling industry as a whole. It’s estimated that around 82.7% of the online gambling activity that takes place in Europe is done through onshore market platforms. That means that 82.7% of the total online gambling revenue is earned through gambling websites or apps that have licenses granted by European countries and are under European regulation. Industry analysts have said that the biggest driver in the increase of Europe’s onshore market channeling in 2021 is only the result of the start of regulations of the online gambling market in The Netherlands.

Out of all the kinds of gambling products in Europe, sports betting (and other similar forms of betting) still remains to be the most popular. Sports betting accounts for a 40% share of the gross gaming revenue of the European online gambling market in 2021. This is followed by online casinos that account for 34% of the revenues. Next up is poker with 5% and bingo with 3% market shares respectively. With regards to sports and other betting, horse racing seems to be performing relatively well, accounting for 4.88 billion Euros in revenue. Betting on sports like football and others are worth approximately 9.67 billion in terms of gross gaming revenue.