European gambling revenue stabilized 8% above pre-pandemic levels, says new EGBA report

European gambling revenue stabilized 8% above pre-pandemic levels, says new EGBA report

Europe’s gambling revenues have stabilized above pre-pandemic levels in 2022, according to a new report by the European Gaming and Betting Association (EGBA) in partnership with H2 Gambling Capital. The European gambling market’s revenue increased 23% this year, driven by the post-pandemic reopening of casinos and betting shops, with total revenue 8% above 2019 levels.

The end-of-year market data report European Online Gambling – Key Figures 2022 shows Europe’s gambling market revenue increased by 23% to €108.5 billion ($115.3 billion) gross gaming revenue (GGR) in the closing year. The hike was driven by “a significant rebound” in land-based gambling as venues reopen after a widespread shutdown during the pandemic.

EGBA’s prediction for the future of the sector

After declines in Europe’s gambling market revenue in 2020 and 2021, revenue stabilized this year at 8% above 2019’s pre-pandemic revenue levels. The steady growth in online gambling revenue continued in 2022, reaching €38.2 billion ($40.6 billion) GGR, an increase of 8% compared to 2021. Meanwhile, land-based gambling revenue rebounded significantly to €70.3 billion ($74.6 billion) GGR this year, a growth of 34% compared to 2021 levels, although still down 6% compared to 2019.

The annual report, covering the EU-27 and UK gambling markets, also features aggregated data and forecasts for Europe’s gambling market, online gambling products, and information about the different national gambling markets in Europe. It also features latest customer and revenue data from EGBA member companies, including bet365, Betsson Group, Entain, Flutter, Kindred Group, and William Hill.

Europe’s gambling market began to stabilize this year following the unprecedented upheaval and disruption of the pandemic. While the steady upward trend of online gambling continues, land-based gambling is now rebounding from the widespread shutdowns of casinos and betting shops during the past two years,” said Maarten Haijer, Secretary General, EGBA.

Land-based gaming accounted for 65% of total gambling revenue, while iGaming accounted for 35% of Europe’s total GGR. In 2022, casino was Europe’s most popular online gambling product by revenue, reaching €14.9 billion ($15.8 billion) and accounting for 39% of Europe’s iGaming revenue.

Sports and other types of betting were close behind, generating €13.6 billion ($14.4 billion) in GGR and accounting for 35% of Europe’s total online gambling revenue. Haijer further said the World Cup provided an uplift for operators this year, with several unexpected match results being friendly to the bookmakers. In comparison to European general results, EGBA members generate their biggest share (46%) of online revenues from sports betting.

The new EGBA report somewhat mirrors figures published by the UK Gambling Commission (UKGC) last month, which showed that Britain’s retail sector is continuing to recover from COVID, with revenue rising by 110.5% from the 2020-21 financial year, but still representing a 21.5% decline on 2019-20.