News Business Online Gaming Forecast to Grow in Europe

Online Gaming Forecast to Grow in Europe

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Online gaming is booming in the European sector and is set to continue its impressive growth over the next two years, according to new figures.

The figures have been released by the European Gaming and Betting Association (EGBA). They show that revenue from online gaming in the European Union (EU) during 2018 hit €22.2 billion. They also forecast that this figure could rise to nearly €30 billion by 2022.

Internet gaming led the way with 23.2% out of gambling revenue across the 28 EU Member States in the year 2018, with a more than 49% share of the international online gaming market. Land-based operators reported revenue of €73.5 billion in the EU.

Sports betting continued to be the most prevalent type of online gaming, having a 42.5% share of the online market, with casino gaming, which includes slots, produced 32.4%. Lottery came next with 12.6% of the online market, and poker (5%), bingo (4.3%) and a variety of skill games (3.2%) made up the remaining of the sector.

A total of 31.6bn bets were placed by 16.5m players in 2018, while 320m online payments, both deposits and withdrawals from player accounts, were processed during the 12-month period.

Punters in the EU were more likely to use desktop computers for online gaming in 2018, with 57% of online wagers placed on desktop compared to 43% via mobile. However, the EGBA expects mobile to overtake desktop as the primary igaming platform by 2021.

The EGBA estimates that total online revenue in the EU will rise to hit €24.5 billion in the current year. They also forecast that it will hit €25.7 billion in 2020, rise to €27.4 billion the year after and then reach €29.3 billion in 2022.

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