An end-of-year data report by the European Gaming and Betting Association (EGBA), in partnership with H2 Gambling Capital, has stated that Europe’s total gambling revenue is set to increase by 7.5% to €87.2bn ($98.5bn) in 2021.
This includes a 19% growth in the online market. Overall, however, gambling revenue is down by 13% when compared to 2019 as restrictions to land-based gambling remain due to the Covid-19 pandemic.
The report predicts Europe’s online gambling revenue will increase by 19% this year to €36.4bn ($41.1bn) which is in stark contrast to the recent decline in land-based gambling revenue, down by a significant 32% in comparison to 2019.
The growth in online gambling in Europe is expected to experience an acceleration due to the pandemic, with online gross gaming revenue is predicted to grow by 9% each year, reaching a peak of 41% by 2026. Another trend that is expecting a development in popularity is that of mobile usage for online gambling, with the share of bets from mobile devices this year set to account for a majority of Europe’s online bets for the first time ever. It’s expected that the use of mobile devices will reach 61.5% of all online bets by 2026.
“The growth trend of Europe’s online gambling market continues but there remains significant room for online development in markets, such as France, Germany, Italy, and Spain, where the online share of the total gambling market is still relatively low despite the online markets in these countries being relatively mature.
"With continued online growth also comes the responsibility to ensure the online market is well-regulated and operators continue to utilise the latest online technologies to promote a stronger culture of safer gambling,” said Maarten Haijer, Secretary General, EGBA.
sOURCE : www.gamblinginsider.com