According to a report released by the European Gaming and Betting Association (EGBA) and H2 Gambling Capital, total gambling market revenue in the EU and UK for 2021 will drop by 13% in comparison to 2019’s figures.
The research reveals that total market revenue in 2021 grew by 7.5% to €87.2 billion in 2021 compared to 2020, an increase that has for the most part been driven by 19% growth in the online market across both the EU and the UK combined.
The drop in overall gambling revenue since 2019 has been attributed to the extensive lockdown measures that took place throughout 2020 and into 2021. The report also notes that while the retail gambling industry has mostly reopened, the majority of venues have been operating under strict entry and capacity guidelines that have resulted in a significant drop in revenues.
According to the released data, gross gambling revenue (GGR) for the online market will hit €36.4 billion for 2021, and increase of 19% year-on-year. Meanwhile, land-based gambling revenue is expected to increase by 0.4% to €50.8 billion. However, when compared to pre-pandemic figures for 2019, this will represent a drop of 32% in GGR.
GGR from the online market is expected to grow by approximately 9% every year. As a result, by 2026, online gambling revenue is predicted to account for 41% of Europe’s total gambling revenue. This will mark a 26% increase on online gambling’s market share for 2019.
2021 has also seen a significant increase in the use of mobile devices with 50.5% of all bets online being made through a tablet or smartphone. This is the first time in history that bets through a mobile device have accounted for the majority of online bets and this share is expected to increase to 61.5% by 2026.
Speaking following the release of the report, Maarten Haijer, Secretary General, EGBA, said:
“The growth trend of Europe’s online gambling market continues but there remains significant room for online development in markets, such as France, Germany, Italy, and Spain, where the online share of the total gambling market is still relatively low despite the online markets in these countries being relatively mature. With continued online growth also comes the responsibility to ensure the online market is well-regulated and operators continue to utilize the latest online technologies to promote a stronger culture of safer gambling.”
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.