Online Casino Atlas - A Quick Look at Europe’s Biggest Punters

The online gambling industry continues to break records, with the in total market size in Europe expected to reach $47.11 billion in 2023. By 2028, analysts predict that the figure will balloon to 79.42 billion (representing a CAGR of approximately 6%). But these mind-boggling numbers just beg the question: Which countries are leading the charge in Europe? Don’t worry, we’re going to give you the full run-down.

The European Union is Casino-Friendly

The countries that are part of the European Union are, on the whole, home to the most punters on the continent. This is primarily due to both consumer demand and friendly conditions for operators. For instance, in countries like the Netherlands, Belgium, Germany, and Spain, online casinos can obtain government licenses to provide iGaming solutions to consumers. While this is not due to EU law as such, it is an in total trend that mirrors in total legislative conditions. In some countries outside the EU, such as Norway, the local market is relatively limited as only Norsk Tipping and Norsk Rikstoto can provide services to the industry. As such, the Top online casinos in Europe tend to be based in the EU.

Netherlands: Few Restrictions

The Dutch are known for their open nature, and this extends to their stance on gambling. Although you’d perhaps be surprised to find out that online gambling was effectively illegal until 2021. But once the Dutch Gambling Act came into effect, the iGaming industry was finally able to take off. This legalization of the industry quickly saw huge user numbers, with over a million citizens now actively gambling on their tablets, smartphones, or home computers.

Swedes Don’t Like Brick and Mortar

What’s perhaps most interesting about Sweden is not the absolute figures, but the percentage of people who place bets Exclusively online. At present, over 80% of gamblers only do so via an iGaming solution, leading Europe in total. The Latvians (75%), Lithuanians (67%), and Romanians (65%) follow closely behind. Conversely, in big gambling countries like Spain and Italy, less than 25% of the total gambling population does so on the Internet. What this shows is that there is still plenty of room for growth For iGaming. Mediterranean countries do tend to move a little more slowly For tech adoption; once smartphone gambling becomes the norm, what kind of figures will we see?

The ‘Outsider’? UK as a Leading Gambling Brand

Of course, there is one country outside of the European Union that is home to one of the largest online gambling markets on the planet. But since Brexit happened back in 2016, the UK stands as a unique industry leader in Europe. The in total market is worth almost $8 billion, with the growth rate expected to match the rest of Europe’s CAGR of almost 6%. The number of active gamblers in the country is staggering, with 24.7 million active gamblers out of a total population of 67.33 million. The popularity of online gambling in the UK is not surprising, considering the cultural gravitas of the activity. Punters have long placed bets on all sorts of activities, whether table games like blackjack or roulette, or putting a cheeky bet on the weekend’s football match. Heading to the local bookie almost seems like a rite of passage for the average Brit.

What Can We Expect in 2024?

This one is easy: Growth. The figures all point towards market expansion, even in the face of a potential global downturn. Despite the strong figures, the industry is very much in its infancy, which means there are plenty of opportunities for companies to invest and reap the benefits. Expect the next few years to be even better for consumers, with improved gameplay, a wider selection of titles, and the integration of emerging technologies like AI and virtual reality (VR). And if countries like Norway expand beyond their Limited state-owned solutions, there will be even more options for expansion. With most countries relaxing their legislation around iGaming, the future looks bright indeed.