EGBA: Online growth is reviving Europe’s gross domestic product

EGBA: Online growth is reviving Europe’s gross domestic product

EGBA or European Gaming and Betting Association foresee Europe’s online gambling sector is likely to grow at a faster rate than anticipated because of the ongoing COVID-19 pandemic and increased use of mobile devices.

EGBA predicts sustained uptick for online sector in 2022

The data release, in collaboration with H2 Gambling Capital, covers the EU-27 and UK markets and contains statistics on Europe’s gaming market revenues, regulated market shares, popular online gambling products, and various national gambling markets.

The analysis forecasts that by 2026, online gaming revenue would account for 41% of overall gambling revenue in Europe, up from 26% in 2019. Another trend that is projected to continue is the increased use of mobile devices such as phones and tablets for online gambling, with mobile bets expected to account for 50.5 percent of all online bets in Europe this year, and 61.5 percent by 2026, according to the EGBA.

In addition, the data given contains information about Europe’s total gambling revenue, which is expected to expand by 7.5 percent to €87.2 billion GGR in 2021, fueled by a 19 percent increase in the online industry, which will generate €36.4 billion GGR. Despite this growth, total gambling market revenue is down 13% year on year, as Europe’s land-based gaming sector continues to be impacted by COVID-19 limitations.

Furthermore, as a result of pandemic-related restrictions, while Europe’s land-based gaming income is predicted to climb by 0.4% this year to €50.8 billion GGR, land-based revenue is expected to decline by 32% from 2019 levels.

With EGBA members now accounting for 36% of Europe’s online gambling revenue, the association has also released finalized European market data for 2020 from its member companies – bet365, Betsson Group, Entain, Flutter, Kindred Group, and William Hill – including revenue, products, customers, and licensing in the EU-27 and UK online gambling markets.

Quotes from the Press Release

Maarten Haijer, secretary general of the EGBA, commented on the data report, saying: “While Europe’s online gambling market continues to grow, there is still significant room for online development in markets such as France, Germany, Italy, and Spain, where the online share of the total gambling market remains relatively low despite these countries’ relatively mature online markets.”

“With sustained online expansion comes the obligation to ensure that the online market remains well-regulated and that operators continue to leverage cutting-edge online technologies to foster a greater culture of safer gambling.”

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.