European Gambling Market 2024

Without a doubt, the advancement of technology has led to some great online creations. This also relates to the gambling world. Developments have meant that the online scene has grown steadily over the years. Europe's gambling market has grown at a quicker pace. A large number of nations within the continent have emerged as key gambling markets. They include the United Kingdom, Germany, Italy and Switzerland, to name a few. 

Expectations are high for a series of brand-new online casinos in 2022 and onwards. These will cater to countries across Europe, ensuring the online scene excels. The European Betting & Gaming Association (EBGA) recently released a few statements. They include the fact that the internet gambling sector in Europe is growing by 10% each year. In 2018, the online gaming sector generated €22 billion in gross gaming yield (GGY). Experts predict that the market value will reach €29.3 billion by the end of 2022.

Stringent Licensing Promotes Growth

Research suggests that the rapid growth in Europe is down to stringent licensing. The best online European casino sites hold licences from top-quality agencies. These include the regulatory bodies in Malta, Italy and Belgium, amongst others. 

The UK, while not a part of mainland Europe, also provides a respected regulatory body in the Gambling Commission. These bodies work in a transparent way to provide licences to reputable operators. Through these licensed platforms, players have the confidence that they are gambling in a legal way. Not only that, but they are accessing fair and legitimate games. 

Another reason for the excellent growth comes thanks to the mobile gambling scene. Many European platforms have a mobile-first setup, ensuring gamblers can play anywhere. In 2018, 43% of wagers placed at casinos occurred via mobile devices. You only need to look at the top casino sites in Finland for confirmation. In 2018, they experienced a 10% increase in mobile gaming income. This is something that occurred across the European continent in varying percentages. 

Gamers do prefer playing online or via mobiles than going into physical casinos. That is a trend expected to continue throughout 2022 and onwards. What else has the year seen, and what can we expect from the future in Europe? 

What Has Been and What to Look Forward to in the Future

It is without a doubt that more online casinos are going to open up. There have been many in 2022 already, and the likelihood is that 2023 will be the same. This will provide gamers with more locations to access their favourite releases. In turn, this pushes developers to create pixel-perfect games in high definition. 

The trend for such excellent quality games has accelerated in recent years. Because of such efforts, players can experience high-quality games via casino apps. It has also helped to pave the way for mobile live casino gameplay. This remains another very popular type of casino game to enjoy. 

The United Kingdom still stands out as a leading factor in the gambling scene. Private companies dominate the UK scene. It's a very competitive market, thanks to the Gambling Act 2005. Many casino sites in the UK are also licensed in mainland Europe, too. This ensures that they cater to players in various countries. Brands such as 888, Bet365, LeoVegas and more have sites that are accessible in Europe. 

One sector that is continuing to improve is augmented reality. While it remains quite a new technology, it is an innovation many companies are experimenting with. Through it, digital items become superimposed on top of the physical world. This all takes place through your game screens. It's a technology that has grown in popularity in 2022. Expectations are that this will continue into 2023 and beyond. It's only a matter of time before casino games are accessible in this way. If it's possible with Pokémon Go, it's possible with anything, right? 

Projections between 2022 and 2027 suggest the European gambling market will register a 9.20% CAGR. The after-effects of the worldwide pandemic are still rippling in some locations. Thus, the closure of casinos and other venues had a significant impact. Ever resilient, the gambling world relied on the online sector more than ever before. This has remained the case across Europe. More people are gambling online or via mobile today than ever before. Without this, there is no telling where the European gambling market would be right now.