【Willbet Free casino】European Gambling Market Grew to €123.4 Billion in 2024

Europe’s gambling market hit €123.4B in 2024,Willbet Free casino with online gambling nearing 40% market share. Find out what’s driving the shift.

The European gambling market continues to expand, as it reached a whopping €123.4 billionin gross gaming revenue (GGR) in 2024—a 5% rise from the previous year.

A recent report by the European Gaming and Betting Association (EGBA), in collaboration with H2 Gambling Capital, highlights a shift in consumer habits, with online gambling getting closer to a 40% market share.

Online gambling sees steady growth

Online casinos generated €47.9 billionin revenue in 2024, up from €44.9 billionin 2023. This growth increased its market share to 39%, compared to 37% the year before.

While land-based gambling still dominates, accounting for €75.5 billionin revenue, its share fell slightly to 61%, reflecting evolving player preferences. Mobile gambling played a significant role, contributing 58% of online gambling revenue, compared to 56% in 2023.

The product landscape: Online vs land-based

The report revealed interesting differences between the popularity of gambling products in online and offline settings:

Lotteriestake up the biggest segment, generating €38 billion, with a strong focus on land-based venues (€30.9 billion) compared to online (€7.1 billion).
Casino games are the main attraction for the online sector, with €21.5 billionof the total €30 billion revenue coming from digital platforms.
Gaming machinesare almost exclusively land-based, contributing €24.9 billion.
Sports bettingleans heavily towards online platforms, with €13.7 billionout of a total €20.1 billion in revenue.

National market differences

Online gambling availability varies widely across Europe. Swedenleads the way, with b of its total gambling revenue coming from online sources, closely followed by Finland (68.1%)and Denmark (68.1%). At the other end of the spectrum, Spainlags behind with just 14.2%.

The UKremains Europe’s largest gambling market, generating €30.8 billionin 2023, with Italy (€25.5 billion), France (€17.8 billion), and Germany (€17.7 billion)following behind.

What’s next for the gambling market?

As we look to the future, the European gambling market is expected to grow to a massive €127.7 billionin 2025, a 3.5% increase from 2024. Once again, online gambling is projected to blow past the 40% market share threshold, reaching at least €51.1 billionin revenue. Meanwhile, land-based gambling is set to see only modest growth, reaching approximately €76.6 billion.

Long-term projections indicate that by 2029, the market could hit €149.2 billion, with online gambling growing at an annual rate of 6.9% to €66.8 billion, while land-based gambling sees a slower growth of 1.8% annually, reaching €82.4 billion.

Maarten Haijer, Secretary General of EGBA, added:

“Europe’s gambling market showed steady growth in 2024. While land-based gambling remains dominant and continues to grow in absolute terms, online channels are showing stronger momentum, driven by changing consumer preferences and technological advancement.”

With online gambling set to reach new highs in the coming years, the entire industry is poised for even bigger transformations. These changes are being shaped by changing consumer behaviours and advancements in digital gaming technologies.

All in all, land-based and online casinos are commonly compared in bonuses, offerings, and overall experience. The online sector has indeed swooped in and taken the world by storm. However, this doesn't mean that land-based gaming doesn't have a place under the sun.

The good news for players is that they have an abundance of options—online and offline. Plus, given the current growth and developments, we can obviously expect even bigger and better things from the gambling market!