Irish Gambling Market 2024

At the start of 2022, Ireland was expecting significant changes in its gambling scene. This has gone through a vast amount of growth over recent years already. That continued despite the issues that COVID-19 brought to the fore. Even 2020 and 2021 were successful enough years for Ireland's market. That is particularly the case as far as online casinos go. It may seem right to say that the pandemic bolstered the need for online gambling. In any event, it proved that it has a place in today's society.

For 2022, many believed Irish bookmakers would expand their business. Uncertainty surrounded companies like Flutter Entertainment and BoyleSports. The former experienced a price drop in its stock 2021. Many people blamed this on Flutter reducing its full-year earnings guidance. Yet in December of 2021, it showed signs of recovery in this area. BoyleSports made more than expected in 2020, reporting a €1.4 billion turnover. This included through its online casino in Ireland and land-based betting shops.

Gambling laws were also expected to get an overhaul in 2022. After passing the Interim Gaming and Lotteries Act in 2021, people awaited change. It was also expected that Ireland's general gambling scene would continue to grow, too.

What Actually Happened in 2022?

So, did any of Ireland’s expectations come true? Well, one of the latest pieces of news from the country regards its gambling laws. A new Gambling Regulation Bill came to light towards the end of the year. This includes broad language surrounding gambling promotions. In many instances, this could see such promos outlawed altogether.

Online gaming in Ireland does not have local regulations in place for the moment. Yet many Irish gamblers place bets at offshore sites. As of the moment, there is no official law regulating online gambling. The new legislation would create the space for this to become a legal activity. Of course, the sector would be subject to taxes and licensing.

Yet under article 148 of the new bill, operators will not be able to offer free bets. Usually, these are on hand as a way of enticing new customers to sign up and deposit. Yet the broad language within the bill could effectively ban all types of promotions.

Despite this, the industry reacted in a positive way to the introduction of the bill. It's been a long process to get it through the official channels. The finalisation of the bill will likely occur in 2023. It will likely feature higher levels of customer protection and responsible gambling measures.

Ireland is a country throughout history that enjoys gambling on the whole. Because of this, gambling operators have exploited loopholes in the current legislation. This has allowed them to provide gambling services via members' clubs. Both sports betting and some of the best casino games are available this way in the country.

Around 14 clubs currently operate in Ireland in this way. They exist within Cork, Dublin and County Limerick. Even though they are quite small-scale, they do provide various popular casino games. Thus, you can find blackjack tables, roulette, baccarat, poker and even the best slot games. Of course, these have to adhere to the laws of the country's gambling scene. This means that they should own an official licence from the Irish Revenue Commissioners.

For the time being, Irish gamblers will need to wait and see what comes of the new laws. There is, of course, the chance for online gambling to become operational in full.

Sports Betting Online Remains Legal

Earlier on, the prevalence of BoyleSports and Flutter Entertainment was highlighted. Companies that offer sports betting can provide their services within Ireland. They can operate both online and offline as long as they hold official licences. Online gambling of this nature has been legal since 2015 within.

Ireland is, of course, a member of the European Union (EU). Official EU laws state that online gambling companies licensed elsewhere should be available. Those companies should also have a way to get local gambling licences through such laws. Yet this isn't the case when it comes to Ireland. Similar laws that Germany had utilised to block such online gambling apply. Only online sports betting licences are available in Ireland. The laws surrounding online casino gaming and such are not yet complete. Thus, Ireland is unable to pursue unlicensed casinos from other EU locations.

That conflict with the EU's laws has led to an unusual situation. There can be no restrictions on Irish citizens playing at offshore popular online casinos. Any player gambling at a foreign-based platform from within Ireland is not prosecuted.