European gambling revenues dropped 23% in 2020

Content Team 3 years ago
European gambling revenues dropped 23% in 2020

While Europe’s gambling revenues dropped 23% in 2020, the European Gaming and Betting Association finds that online gaming maintained its growth

EGBAThe European Gaming and Betting Association (EGBA) report that Europe’s total gambling revenue for 2020 dropped 23% from €98.6bn Gross Gaming Revenue (GGR) in 2019 to €75.9bn in 2020 as a consequence of COVID-19.

The data used for the study was supplied by H2 Gambling Capital, and covered EU-27 and UK markets.

The report also highlighted that online gambling revenue increased from €24.5bn GGR in 2019 to €26.3bn in 2020 as people sought alternatives to land-based offerings in light of COVID-19.

It is also forecasted that online GGR will grow approximately ‘7% yearly and reach 33.6% of Europe’s total gambling revenue by 2025’, the EGBA reports.

The EGBA state that while growth in online continues and took a higher share of Europe’s gambling market revenue in 2020, it still won’t compensate for the revenue declines for the land-based industry which dropped 33% from €74.1bn GGR to €49.6bn.

COVID-19 has caused the land-based industry to shut down across the world: the UK, Finland, Holland, France, Germany and Italy.

Moreover, the EGBA predict the popularity of mobile device use for online betting to continue to increase, expecting to account for 45.6% of Europe’s online gambling revenue in 2020 and reach 50.7% by 2022. They add ‘This trend is expected to continue, with mobile betting projected to reach a 58.2% share in 2025’.

Maarten Haijer, Secretary General of the EGBA, took a walk down memory lane stating:

Maarten HaijerWe commend our members efforts in support of safer gambling and their significant investments in European sports. Like many other sectors, Europe’s gambling sector has taken a hit from COVID-19 this year but the growth trend of online continues to be strong. There is also still lots of room for growth in markets like France, Germany, Italy, and Spain, where the online penetration of the total gambling market is still relatively low compared to other European countries.

Source: EGBA

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