Casinos are a very lucrative business in Europe. It has enormous potential and becomes a good choice for companies that set their eyes on success. As more and more people cannot stand not enjoying the luxury of gambling in their homes, the European Online Gaming market increases. Its popularity extends as gamers have many options; the developed market also helps the industry grow. This analysis gives you a thorough overview of the industry’s current status concerning all market trends and segments, enabling enterprises to exploit opportunities, assess their prospects, and formulate suitable strategies.
Europe Online Gambling Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022–2027)
As a result of the general approval and involvement of the masses in casinos and slots, a boost in the growth of the European Online Gambling market has been predicted to take place between 2022–2027. It is divided into regions, end-use, and game types. The analysis provides market size and forecast data for each market segment.
Market Overview
The COVID-19 pandemic significantly impacts global gambling sales, which has led to the closure of lotteries, bars, breweries, hotels, bingo halls, and other places where people can bet on sporting events. The virtual gaming market in Europe is predicted to have a boost of about 9.20% CAGR over the coming five years.
Additionally, betting systems for certain sporting events were suspended. As a result, gambling activities moved online from offline, and a list of online casinos in Germany and several operators went digital in response to the closing of numerous gaming facilities. However, the market was favorably affected. This is because many players boosted the variety of online slots they played, and lottery providers relocated their services online.
This shift in gamers’ interest influences gambling revenue. Companies are launching local creative services to gain an advantage over well-established rivals and compete with them. According to the reviews of the best online casinos in Austria at CasinoTop.at, there is a decent number of those competitors, and all of them have a lot to offer. These are the most reputable and secure online casinos with fantastic games selection and interesting bonuses. All of these factors really attract the new client, thus, increasing the revenue.
The game’s rules are changing by several factors, including blockchain, IoT, VR, and online gaming. The revolutionary use of virtual reality and VR headsets in online gambling has recently benefited the sector’s revenues, thanks to their rising popularity.
The following is a breakdown of Europe’s gross online gambling revenues by betting activity as of November 2021.
| Games | Share of market (%) |
| Sports Betting | 40 |
| Casino | 34 |
| Lottery | 17 |
| Poker | 5 |
| Bingo | 3 |
| Other/Skill | 1 |
Key Market Trends
Improved Internet Connections and Streaming Technology
The gamers’ access to live games was expanded due to the advancement of internet connections and streaming technology, which is one of the major contributors to the growth of online gambling. Also, the large collection of online slots and betting sites are all contributors to the market’s growth.
Statistic by Broadband Search
Customers have unwavering doubts about the reliability of online betting sites since they became a ‘thing’ on the Internet. Gaming sites share many of the same security vulnerabilities as physical ones. The application of science has aided in the evolution of the gambling sector. This made it possible for hackers to break in using intricate and sophisticated technologies. This is one of the major fears of gamers, both online and offline.
The United Kingdom Leading the Market
Gambling is a way of getting excited and raising hope of getting out of poverty in the UK for ages. It is not unusual that the nation’s private sector provides online gambling and sports betting, which is regulated and authorized nationwide by the Gambling Commission overseeing bingo, slots, sports betting, and lottery-like activities. The best gaming platforms from all the Commonwealth countries, including New Zealand, are all collected together for those who are looking for online casinos in 2022 to play these games. That way is the easiest to find the most suitable site for your favorite games and the expert reviews on what to look out for when choosing where to play.
Competitive Landscape
Many organizations rely on outside suppliers like Playtech for software solutions. Following the legalization of online casinos in Austria, some businesses, however, decide to regress their technological integration. 888poker is a typical example. It made significant investments in the development of its software and virtual gaming tech to avoid depending on vendors.
Major Players
European Online Gambling is growing with a healthy future forecast. The industry is mainly driven by the rise of virtual and live gaming, with poker, sports betting, and bingo being the most popular kinds of options. Bet365, GVC Holdings PLC, and 888 Holdings PLC are some of the major players in the online gambling market sector.
Recent Developments
In 2021, in order to get across to the French lovers of gaming, Betway launched a new platform for these users in partnering with Sportnco, a betting supplier. French gamers can now enjoy staking on different sporting events and tournaments through Betway.fr and its corresponding mobile apps.
Also, the business-to-consumer (BC2) operations of Gaming Innovation Group (GiG) were acquired by Betsson in 2021. Betsson now owns the brand’s Guts, Kaboo, Rizk, and Thrills, all of which were previously run by GiG. The Oslo and Stockholm Stock Exchanges both list GiG. The brands are authorized in Malta, the UK, Sweden, and Germany. In 2021, Playtech and Flutter Entertainment extended their contract by 5 years; this will bind Playtech to upgrade its software to help Flutter businesses such as Betfair, Paddy Power, and Sky in London.
Summary
The industry of online gambling market is still growing steadily, with more and more gamers switching from their land-based casinos to the ones on the Internet. While it is still a relatively new industry, and there are still many challenges facing it, the industry offers plenty of opportunities for people looking to earn their own cash with a minimized risk. It is so easy to play your favorite games using this medium, and excellent bonuses and high customer service standards are key factors for this shift. In the next couple of years, we hope to see a continuation of this growth; however, continued economic uncertainty could threaten it in the future.
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