Last year, in 2024, Europe’s online gambling market hit a record-breaking €47.9 billion. This figure positions online gambling as an industry that can no longer be ignored in macroeconomic terms, and it’s clear that both changing habits and regulatory changes, as seen in Germany, have seismic impacts.
Unstoppable revenue growth
The revenue growth of last year was 11.6%, up from the €42.9 billion recorded in 2023. Online gambling, which is everything done over phones and computers, made up around 39% of this revenue, which was a slight uplift from 37%. The market outlook remains very much bullish, despite economic headwinds in Europe. Projections indicate a revenue size of €66.8 billion by 2029, and by then, almost half of the glamping market will be online.
Catalysts fuelling the online gambling surge
One driver is the ongoing shift in consumer behaviour. Europeans are beginning to favour digital platforms, and these platforms are inherently more accessible, making it easier to participate at all hours of the day. Digital platforms also have more room for innovation, which keeps users intrigued due to the constant release of new games, features and markets. Furthermore, within the EU, digitalisation has meant that users are open to using overseas gambling platforms, meaning there is a greater product choice.
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SubscribeA look at product preferences
Within digital gambling, online casino games stand out as being the biggest contributors. With €30 billion in total revenue, €21.5 billion of that comes from online. Two products that remain firmly on-site are the lottery (€30.9 billion of its total €38 billion revenue) and gaming machines (€30.9 billion) are solely land-based. So, despite the growth of online casinos, it’s clear that traditional forms of betting remain popular too.
It’s difficult to pin down exactly what drives preferences across nations. But, we know the UK is the largest consumer of online gambling by far in Europe. Italy is the largest gambling market, but it remains firmly land-based, while the UK’s online share has easily exceeded 50%. You may think this could be to do with what nations still play the lottery, but this isn’t an explanation, as the UK favours the lottery more than Italy.
Gambling goes handheld
Perhaps the clearest trend is the transition towards using mobile devices for gambling, with desktop being reduced. Currently, over half of all online activity is with a mobile, but it’s expected to reach two-thirds by 2029. With mobile phones becoming the most common device for games more generally (even outcompeting the PlayStation 5), it’s clear that this major market in Europe’s economy is being driven by handheld activity. With VPNs becoming more widespread, and EU-wide data plans, mobile phones represent frictionless gambling across the continent.
The future of European gambling is digital
Europe’s online gambling market isn’t only going handheld, the market as a whole is growing. This might be surprising to some, who see many of these activities as being traditional, while Gen-Z enjoys video games. But, what this doesn’t account for is that gambling markets are adapting, soccer is more popular than ever (and thus so is wagering on it), while some casino games capture these cultural zeitgeist moments with their themes and mechanics.
