According to the latest financial data provided by the European Gaming and Betting Association, the COVID-19 pandemic has damaged the European gambling market much in terms of revenue. However, it didn’t prevent several sectors from gaining popularity and, as a result, increasing their revenue.
EGBA’s financial news informs that the gambling market in Europe is predicted to incur losses in 2020. The report shows that its annual revenue is expected to decrease by twenty-three percent, in comparison to 2019. This year’s GGR in twenty-seven European states and Great Britain will be €75.9 billion. At the same time, online gambling has a positive tendency as its financial condition is improving. Experts forecast that the vertical, vice versa, will grow by seven percent (to the GGR of €26.3 billion). Moreover, the chances are that online gambling will continue to gain momentum and will generate €37.3 billion in the nearest future.
EGBA’s review of main 2020 trends
In addition to the stable growth of the online gambling vertical, the association has also noticed other tendencies that accompany 2020 in the industry. One of them is the increased popularity of online betting in Europe-based countries. This sector has a 41-percent share of the overall online gross gaming revenue, which is almost half of the market. In 2019, online betting has generated €10 billion, and it isn’t the limit.
The casino vertical has second place in this ranking with thirty-one percent of GGR. The lottery sector is included in the top three verticals as well because it has fifteen percent. Poker, bingo, and other gambling products aren’t so popular among European players.
EGBA’s report confirms the fact that gambling, especially the bookmaking sector, is steadily going mobile, leaving PC entertainment behind. For example, almost 45% of bets were made on a smartphone in 2019. It is expected that mobile betting will reach 58.2% by 2025.
The provided data have also revealed which country has the largest gambling market. The UK is leading the list with a little bit more than thirty percent. Germany and France come second and third with 11.4% and 9.2% respectively.
Other interesting facts include information about customers. For instance, the number of European online players is sixteen million, and they win 94.3% of their bets, which is €105 billion in winnings.
Read more: Legal regime for online gambling in Europe