How is Europe reacting to the growth of the online gambling market?

As the European gambling market continues to grow, both sports betting and lotteries are expected to show the strongest online growth through 2029.

Transcript

00:00How is the EU reacting to the growth of the online gambling market?

00:09The COVID-19 pandemic led to the closure of physical casinos,

00:13leading to a significant surge in digital revenues.

00:17While the gambling activities industry in Europe is expected to grow until 2029,

00:22the regulated European gambling market is expected to reach 137 billion euros

00:29in gross gaming revenue in 2024,

00:32with online gambling accounting for 40% of this total.

00:36In 2024, lotteries generated 38 billion euros,

00:41while betting reached 33 billion euros.

00:44This is followed by casinos at 30 billion euros

00:47and gaming machines at 26 billion euros.

00:51Sports betting has become a favorite pastime for many Europeans,

00:55with major sporting events like the European Football Championship

00:59and the World Cup driving up online sports betting activity.

01:04Both sports betting and lotteries are expected to show the strongest online growth through 2029,

01:10with compound annual growth rates of 8.6% and 8.4% respectively.

01:17However, the industry faces several challenges,

01:20including competition from black market websites

01:23and apps operating outside the EU,

01:26as well as ethical concerns regarding gambling addiction.