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European Gambling Report Celebrates a Successful 2022
By Shane Addinall Dec 25, 2022 IndustryA 2022 industry report shows that the European market has finally topped its 2019 GGR figures. This is a very positive result for the region’s regulated gambling providers, who have had a challenging few years.With the widespread regulation of online gambling across Europe, the overall gambling sector showed sustained growth until the pandemic. Despite unwarranted concerns over panic gambling and increased problem gambling, only a tiny percentage of land-based players moved to the online space. This moderate revenue shift still resulted in a negative net result as brick-and-mortar venues closed shop to protect their customers' and employees' health and well-being.
As the world recovered and businesses began to open their doors, gambling was not a priority, with the focus on resetting economies and getting supply chain operations back on track. However, the latest report by the European Gaming and Betting Association (EGBA) and H2 Gambling Capital (H2GC) shows that the tide has finally begun to turn.
Key European Gambling Metrics
According to H2GC, European gambling revenues increased by 23% in 2022. This fantastic result means the region saw an 8% gross gaming revenue (GGR) increase over its previous pre-pandemic high.
Maarten Haijer, Secretary General, EGBA, said:
“Europe’s gambling market began to stabilise 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.”
The report showed that online gambling was still a solid contributor to the overall GGR valuation, but the growth came about from the land-based casino and betting space, driven in part by the success of the FIFA World Cup.
The Numbers Speak for Themselves
Looking at a chart which breaks down Europe’s €108.5 GGR for 2022, the positive industry impact of the FIFA World Cup and the reopening of casino and betting venues is undeniable.
The projections are also of great interest as while land-based gambling is a solid vertical, the real growth opportunities lie in the online casino space. The H2GC table predicts that in-person gambling will only exceed its 2019 peak by another €5 billion by 2027. On the other hand, the online sector is projected to double its 2019 peak by achieving €55 billion GGR!
These predictions are supported by the fact that casino games have surpassed sports and other forms of betting in Europe as the region’s preferred gambling pastime. According to the data supplied by the EGBA, 39% of Europeans enjoy casino entertainment, while 35% prefer betting.
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