Online Gambling - Europe

Europe

Highlights

Revenue in the Online Gambling market is projected to reach US$46.94bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 4.72%, resulting in a projected market volume of US$56.45bn by 2028.
The Online Casinos market has a projected market volume of US$20.70bn in 2024.
In global comparison, most revenue will be generated United States (US$23.03bn in 2024).
The average revenue per user (ARPU) in the Online Gambling market is projected to amount to US$844.50 in 2024.
In the Online Gambling market, the number of users is expected to amount to 63.6m users by 2028.
User penetration in the Online Gambling market will be at 6.5% in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Online Gambling market in Europe has been experiencing significant growth in recent years, driven by changing customer preferences and favorable market trends.

Customer preferences: Customers in Europe are increasingly turning to online gambling as a convenient and accessible form of entertainment. The rise in smartphone usage and the availability of high-speed internet connections have made it easier for people to access online gambling platforms from anywhere at any time. Additionally, the younger generation is more open to trying new forms of entertainment, including online gambling, which has contributed to the market's growth.

Trends in the market: One of the key trends in the European online gambling market is the increasing popularity of sports betting. Sports betting has become a favorite pastime for many Europeans, with major sporting events such as football matches attracting a significant number of bets. Online gambling platforms have capitalized on this trend by offering a wide range of sports betting options, including live betting and virtual sports. Another trend in the market is the growing demand for online casino games. European customers have shown a preference for a variety of casino games, including slots, poker, and roulette. Online gambling platforms have responded to this demand by offering a diverse range of casino games, often with attractive bonuses and promotions to attract and retain customers.

Local special circumstances: In some European countries, online gambling regulations vary significantly. While some countries have liberalized their online gambling markets and established clear regulatory frameworks, others have imposed strict regulations or even banned online gambling altogether. These varying regulations create a complex landscape for online gambling operators, who must navigate different legal requirements and licensing processes in each country.

Underlying macroeconomic factors: The growth of the online gambling market in Europe is also influenced by underlying macroeconomic factors. Economic stability and disposable income levels play a significant role in determining the demand for online gambling services. In countries with higher disposable incomes, customers are more likely to spend money on leisure activities such as online gambling. Additionally, the overall economic growth of the region can impact consumer confidence and willingness to spend on non-essential activities like online gambling. In conclusion, the Online Gambling market in Europe is experiencing growth due to changing customer preferences, favorable market trends, and underlying macroeconomic factors. The increasing popularity of sports betting and online casino games, coupled with the convenience of online gambling platforms, has contributed to the market's expansion. However, the varying regulations across European countries present challenges for online gambling operators. The overall economic stability and disposable income levels in each country also influence the demand for online gambling services.

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Gambling Revenue (GGR) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies, and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, the urban population, the usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.