European online casino gaming market poised to grow to $138 billion by 2028

By:
on May 23, 2024
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  • European online casino market expected to hit $107.3 billion by 2024 and $138.1 billion by 2028.
  • Technological advancements and regulatory changes drive market growth and player engagement.
  • Growing societal acceptance boosts online gambling, with 68% of European gamers preferring mobile devices.

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The European online casino gaming market is expected to reach unprecedented heights, with industry experts forecasting revenues of $107.3 billion by the end of 2024 and $138.1 billion by 2028.

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This anticipated growth underscores the burgeoning popularity of online gambling across the continent, driven by technological advancements, regulatory changes, and shifting societal attitudes toward gambling.

Technological advancements fuel growth

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The role of technology is playing a key role in the growth of the online casino gaming market.

With increasingly advanced platforms such as Kongebonus, better graphics, and easier access via mobile devices, it has become easier and more appealing for people to engage in online gambling activities.

The steady development of virtual reality (VR) and improved user experience has also helped to attract a wider audience to online casinos.

Impact of legislation and regulation

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Changes in legislation and regulatory frameworks have also played a crucial role in expanding the online casino gaming market in Europe.

Many European countries have moved towards regulating or fully legalizing online gambling, thereby removing previous barriers and increasing the number of active players.

This regulatory shift has not only facilitated market growth but has also contributed to higher turnover rates.

Growing acceptance of online gambling

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Societal attitudes towards gambling have evolved significantly, with an increasing number of people viewing it as a legitimate form of entertainment.

This shift in perception has led to a rise in the number of individuals engaging in online casino games.

According to recent data, 68% of gamers in Europe prefer to play on mobile devices, highlighting the convenience and accessibility of online platforms.

Regional market insights

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Europe stands out as one of the largest markets for online gaming, with 25 European countries having competitive gambling markets and four maintaining a monopoly system.

In 2022, Europe’s gross domestic revenue (GDR) for gambling peaked at $117.5 billion, with Italy and the U.K. emerging as prominent gambling destinations.

The U.K. alone reported a gross gambling yield of $17.8 billion in the same year.

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Casino gaming is deeply ingrained in European culture, with many tourists flocking to cities like Prague and Bratislava to experience the vibrant gambling scenes.

Prague, known as Europe’s party capital, boasts the second-largest number of casinos in a European city, offering a blend of thrilling entertainment and lavish gaming experiences.

Where’s the market headed?

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Looking ahead, the European online casino gaming market is set to continue its upward trajectory.

Experts predict that market turnover will reach $138.1 billion by 2028, reflecting ongoing growth in popularity and market influence. However, this growth is not without challenges.

The increasing availability of online gambling raises concerns about gambling addiction and the need for responsible gambling measures.

Governments, operators, and industry organizations must collaborate to implement effective safeguards to protect vulnerable players and ensure a safe gambling environment.

Additionally, operators must invest in continuous innovation and technology to stay ahead in the competitive landscape.

This includes offering new games, improving platform performance, and maintaining high standards of security and privacy.

EUR Gaming