Market Snapshot
| Study Period: | 2016 -2027 |
| Base Year: | 2021 |
| CAGR: | 9.2 % |
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Market Overview
The European online gambling market is projected to register a CAGR of 9.20% during the forecast period (2022-2027).
The COVID-19 pandemic had a major impact on the gambling industry on an international level. This led to the closure of casinos, lottery outlets, and gambling venues (gambling lounges, bars, breweries, hotels, bingo halls, and horse racing) and the suspension of sporting events for which betting systems were in place. As a result, the market witnessed migration from offline to online gambling activities. Several operators went digital in response to the closure of many gambling establishments. Many players expanded their online gambling offerings, and bingo operators moved their offerings online, positively impacting the market.
This migration from offline to online gambling was inevitably accompanied by increased revenue associated with online gambling. Growing hardware and software innovations, the rising popularity of casino and sports betting gambling, and enhanced internet penetration are expected to drive the growth of the European online gambling market. The dominating players have focused on mergers over the past few years, primarily to increase their market stake and improve profit margins. For instance, Paddy Power PLC and Bet fair PLC merged to form Paddy Power Betfair PLC. Companies are developing innovative regional offerings to gain a competitive advantage and compete with established players. For instance, one of the UK’s leading casino companies, 888 Holdings, had signed up a new gaming partnership with software maker Microgaming.
Technologies such as Blockchain, IoT, and VR are changing everything in every field, including online gambling. Virtual Reality and VR Headsets have gained much popularity in recent years and are a revolutionary addition to online gambling.
Scope of the Report
The market has been segmented by game type, end-user, and geography. The market studied is segmented by game type into sports betting, casino, lottery, bingo, and other game types. By sports betting, the market studied is segmented into football, horse racing, e-sports, and others. By casino, the market studied is segmented into live casinos, slots, baccarat, blackjack, and others. By the end-user, the market studied is segmented into desktop and mobile. The report covers major countries of Europe, including the United Kingdom, Italy, France, Spain, Germany, Netherlands, Sweden, and the Rest of Europe. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
| By Game Type | ||||||||
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| Lottery | ||||||||
| Bingo |
| By End-use | |
| Desktop | |
| Mobile |
| Geography | |
| Spain | |
| United Kingdom | |
| Germany | |
| France | |
| Italy | |
| Russia | |
| Rest of Europe |
Key Market Trends
Improved Internet Connections and Streaming Technology
Improved internet connections and streaming technology upsurge in the consumer choice for online gambling is being supported by faster internet connectivity, allowing operators to stream live casino events from around the world that consumers can then bet on. Consumers have increased accessibility to the internet, a wide range of online games, and gambling portals, propelling the market's growth. Ever since the first online casinos emerged on the web, consumers have been skeptical about the security of internet gambling sites. Like brick-and-mortar casinos, online establishments are susceptible to various security threads. Technology has helped the casino industry evolve, enabling hackers to use elaborate and complex technologies to hack into a casino.
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United Kingdom Leading the Market
Sports betting in the United Kingdom are provided by the private sector and is conducted within a competitive market. Online gambling is legal and regulated in the country by the Gambling Commission, formed by the Gambling Act of 2005. Online poker, sports betting, casino games, bingo, and lottery-style games all fall under the purview of the Gambling Commission. According to the data published by OfCom (The Office of Communications, United Kingdom), 6% of the users aged between 25-34 and 45-54 years engaged in online gambling at least once every three months. The second highest age group was between 16 and 24 years, which accounted for 4%. Rizk Casino, 888 Holdings, Casumo Casino, bet365, and LeoVegas are some prominent players operating in the United Kingdom online gambling market.
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Competitive Landscape
Some major players in the online gambling market are Bet365, 888 Holdings Plc, GVC Holdings PLC, Kindred Group PLC, William Hill PLC, and Betsson AB, which have a significant presence across Europe. Many online gambling companies rely on third-party providers, such as Playtech, for software solutions. However, some companies choose to backward integrate with technology providers. For instance, 888poker heavily invested in developing its software and online gaming technology, primarily not to rely on suppliers. Similarly, William Hill, a bookmaker in the United Kingdom, focused on backward integration and thus acquired Grand Parade, a software development company.
Recent Developments
- In 2021, Betway launched a new France-facing website in partnership with sportsbook provider Sportnco. Betway.fr and its accompanying mobile apps will allow players in France to access betting options on a wide range of sports events and competitions.
- In 2021, Betsson acquired Gaming Innovation Group's (GiG) business to consumer (BC2) operations. GiG operated the brands Guts, Kaboo, Rizk, and Thrills, which are now acquired by Betsson. GiG is listed on the Oslo and Stockholm Stock Exchanges. The brands operate under licenses held in Malta, the United Kingdom, Sweden, and Germany (Schleswig-Holstein).
- In 2021, Playtech extended its partnership deal with Flutter Entertainment for five more years. Under the new agreement, Playtech will extend its technology to support Flutter brands such as Paddy Power, Betfair, and Sky Casino in London.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Game Type
5.1.1 Sports Betting
5.1.1.1 Football
5.1.1.2 Horse Racing
5.1.1.3 E-Sports
5.1.1.4 Other Sports
5.1.2 Casino
5.1.2.1 Live Casino
5.1.2.2 Baccarat
5.1.2.3 Blackjack
5.1.2.4 Poker
5.1.2.5 Slots
5.1.2.6 Other Casino Games
5.1.3 Lottery
5.1.4 Bingo
5.2 By End-use
5.2.1 Desktop
5.2.2 Mobile
5.3 Geography
5.3.1 Spain
5.3.2 United Kingdom
5.3.3 Germany
5.3.4 France
5.3.5 Italy
5.3.6 Russia
5.3.7 Rest of Europe
6. COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Betsson AB
6.4.2 888 Holdings PLC
6.4.3 The Stars Group Inc.
6.4.4 The Kindered Group
6.4.5 GVC Holdings
6.4.6 William Hill PLC
6.4.7 Bet365 Group Ltd
6.4.8 LeoVegas AB
6.4.9 Flutter Entertainment
6.4.10 Bragg Gaming Group
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Europe Online Gambling Market market is studied from 2016 - 2027.
What is the growth rate of Europe Online Gambling Market?
The Europe Online Gambling Market is growing at a CAGR of 9.2% over the next 5 years.
Who are the key players in Europe Online Gambling Market?
Betsson AB, 888 Holdings PLC, The Stars Group Inc., GVC Holdings, William Hill PLC are the major companies operating in Europe Online Gambling Market.
