Gambling Above Pre-Pandemic Levels according to Trade Group
The European Gaming and Betting Association (EGBA) have teamed up with H2 Gambling Capital to predict the gaming activity expected across Europe. After a discouraging decline due to the pandemic, the industry is flourishing once again – soaring 8% higher than before.
Despite the current gaming industry being rocked by COVID-19, there are bright spots on the horizon. In comparison to 2019 metrics, some sectors have experienced drastic falls over recent years; however, with determined effort and resilience these regions are expected to bounce back. Although certain places may have travel restrictions put into effect, it appears that industry-wide closure won’t be necessary again.
European Gaming Industry on the rise
In its European Online Gambling Key Figures 2022 Edition, the EGBA reported that Europe’s gaming industry saw a remarkable 23% increase in gross gaming revenue (GGR) from 2021 to an astounding €108.5 billion ($115.68 billion). Even more impressive was their 8% growth since 2019 – indicative of steady progress within the sector!
The surge in land-based gambling and sports betting across Europe has been a major factor behind the continent’s continuous growth since 2021, even despite small areas still struggling to eradicate the COVID-19 pandemic.
2022 was booming for the gaming industry. The land-based segment saw particularly rapid growth of 34%, bringing in a massive €70.3 billion (US$74.95 billion). Meanwhile, online gaming also enjoyed an impressive surge with its own substantial GGR gains over 2021’s total revenue. Nevertheless, the land-based segment experienced a 6% decrease when compared to 2019, 2022 has been kinder as it seems poised for success despite their setbacks.
The online segment experienced a remarkable 8% increase in value to reach €38.2 billion (US$40.72 billion) last year. That’s up from its previous worth of €23.44 billion (US$25 million) in 2019! This highlights how digitalization has become integral for retailers and businesses across Europe during these turbulent times of uncertainty and change!
The World Cup was a huge boon for sports betting, providing massive profits. However, 2023 may be unable to reach those same heights with its reduced selection of major sporting events.
EGBA’s Research
The EGBA is a powerhouse organization in the European gaming industry, advocating on behalf of its members’ interests. It boasts 21 member countries and 225 licensed operators, including titans like Flutter, Betsson Group and Kindred Group spread across Europe’s vibrant landscape.
European regulated markets made an impressive showing in terms of online gambling last year. Driven by a group of prominent members, the total online GGR exceeded €11.6 billion (US$10.88 billion), representing 33% of all related activity within the region; 39% was attributed to casino play and sports betting amounted to 35%.
Lottery dominated the gaming scene with 18%, while poker and bingo were far behind at 4% and 3%. The remainder of genres in the market managed to take a slice as well.
In the European online gaming space, an incredible 29.8 million users placed 111.6 billion wagers last year with EGBA members alone – yielding €191.3 billion (US$179.42 billion) in winnings from a total of €202.9 billion (US$190.3 billion) they spent.
Online gaming has seen significant growth over the last few years, with a shift to mobile devices becoming increasingly dominant. Smartphones and tablets have already overtaken desktop computers in terms of usage for online games. This trend is set to continue as analysts project that 53% of all online games will be played on these platforms.
Category: Gambling industry