The European gambling market is thriving. But a closer look reveals a fractured reality. According to the latest data from the European Gaming and Betting Association (EGBA) and H2 Gambling Capital, Europe’s online gambling scene isn’t slowing down — far from it.
But not everyone’s moving at the same speed. The European Gambling Market – Key Figures 2025 Edition report shows the continent generated €123.4 billion in gross gaming revenue (GGR) in 2024. That marks a five percent rise from the year before.
Online gambling alone accounted for €47.9 billion of this, up from €45.3 billion in 2023. By 2025, experts predict online revenue will climb to €51.1 billion. That would push online gambling to 40 percent of the total market share.
On the surface, it looks like a smooth upward curve. But dig deeper, and you see wide variations across the continent.
The Scandinavian countries are charging ahead. In Sweden, online gambling now makes up 68.3 percent of total revenue. Finland and Denmark are just behind at 68.1 percent each. At the other end of the spectrum, Spain has only reached 14.2 percent.
These are not minor statistical blips. They tell a bigger story of a European market growing but not blossoming together.
Sweden’s online dominance didn’t happen by accident. It has a liberal licensing regime, widespread internet access, and a culture that’s comfortable with digital payments. But even Sweden’s cashless crusade is wobbling — a recent backlash over banking outages and tech failures suggests that when you go all-in on digital, you’d better count on having a solid Plan B or buy a bigger mattress. Regulation has focused on channelisation, not punishment. Operators are licensed, consumers are protected, and the black market is kept in check. Isn’t it?
Sweden’s model has cracks. A 2024 report by Spelinspektionen found that up to 15 percent of gambling takes place with unlicensed operators. Unlicensed gambling is on the rise, particularly in online casinos, where younger men are drawn to looser rules and bigger incentives. Sweden might aim for high channelisation, but holding the line is getting tougher.
Spain, on the other hand, has piled on the red tape in recent years. Harsh advertising bans and stricter controls have left the legal online market boxed in. The goal should be protection, but the result? More players drifting toward the dodgy end of the internet. The data suggests it’s working against channelisation, not for it.
Denmark tells its own story. The country has invested in a strong tech backbone, clear rules, and actual safeguards that try to do the job. Its Spillemyndigheden regulator offers clarity, not chaos. But Denmark is not immune. Spillemyndigheden has flagged a growing threat from illegal gambling, especially online and among younger players. The authorities have blocked dozens of sites, yet offshore operators and shady affiliates keep slipping through. The rules are clear, but enforcement is less so.
In France and Germany, things are more complicated. France still bans online casino games entirely — so players go looking elsewhere and usually find it. Over in Germany, the federal system makes things even messier. Some states play ball with licensing. Others drag their heels. The result? A slow, stuttering rollout and a market that’s anything but consistent. However, Germany’s gambling laws are getting tougher. Operators must work within tighter deposit limits, face stricter financial checks, and step up responsible gaming efforts. Falling short? That could be costly.
How do we solve a problem like the UK that is no longer entirely part of a European conversation? It’s still Europe’s largest gambling market by gross gaming revenue (GGR) despite no longer being part of the EU. According to the latest EGBA and H2 Gambling Capital report, the UK hit €31.3 billion in GGR in 2024 — ahead of Italy (€26.2 billion), France (€18.3 billion), and Germany (€18.1 billion). No one else comes close.
That dominance didn’t happen by chance. The UK legalised online gambling in 2005, years ahead of most of Europe. Winnings are tax-free, advertising has long been relatively liberal, and gambling remains deeply embedded in British culture — from high-street betting shops to a national obsession with football and horse racing. Add in strong digital infrastructure and a wide variety of regulated products, and it’s clear why the UK remains out in front.
But the market’s foundations are shifting. The Gambling Commission’s regulatory approach has taken a tougher line — and the industry’s feeling it. Affordability checks, friction-heavy onboarding, and a tightening white paper roadmap are raising eyebrows across the industry. Operators fear overreach. Players feel patronised. And while the UK still leads in regulatory maturity, there’s growing concern that a one-size-fits-all safety net could push more players into the shadows.
The UK is both a blueprint and a warning. It is a market built on innovation but now weighed down by its own rulebook.
The EGBA report shows clear product preference differences. Lotteries remain king of land-based revenue. Casino games dominate online. Sports betting bridges the two. Yet how these products are treated depends entirely on national laws.
One player in Finland can spin online slots with relative ease. The country still operates under a state monopoly model, but recent political pressure is pushing toward a licensed market, expected to open around 2026. For now, there’s a limited restriction on accessing slots, though options are mostly tied to Veikkaus, the state operator.
In the Netherlands, it’s a different story. The Kansspelautoriteit enforces strict player protection rules, including loss limits, cooling-off periods, and a mandatory self-exclusion register (Cruks). Players are also subject to real-time behavioural monitoring, and operators can face heavy fines for non-compliance.
In Spain, advertising restrictions are some of the harshest in Europe. Since the Royal Decree on Commercial Communications (2021), most online gambling ads are banned outside of a 1 am–5 am window, and bonus promotions are restricted to verified, long-term players. New players won’t even know what they’re missing — by design. Spain is also planning to introduce stricter ID verification requirements for gambling operators to prevent minors from participating in betting activities.
Meanwhile, operators licensed in Malta under the Malta Gaming Authority (MGA) often serve multiple EU markets using cross-border B2B agreements, but national regulations still call the shots. What’s legal in one jurisdiction may be restricted or outright banned in another. The result? Confusion for consumers and compliance headaches for providers. Each country has its own handbook, its own thresholds, and its own definition of “responsible.” It’s hard to claim a single market when every member state runs its own game.
For all the fragmentation, there’s one thing everyone seems to agree on — their phone. In 2024, 58 percent of online gambling happened on mobile. That’s up from 56 percent in 2023. Players are going digital. They’re betting on the go. Whether you’re in Sweden or Spain, your phone is your casino.
But while habits align, rules don’t. An app that’s legal and promoted in one country may be blocked in another. What feels effortless in Denmark may still feel clunky and outdated in France. In one country, ID checks are a tick-box. In another, they want everything but your blood type.
The gambling market doesn’t exist in a vacuum. And let’s not forget the politics. Instability at the top always trickles down, and gambling is no exception.
Spain’s coalition politics have made consistency elusive. With 16 states pulling in different directions, reform in Germany never comes easy. The UK is still wrestling with Brexit’s baggage. As for the EU? They sometimes struggle and can’t even agree on the present.
In some countries, gambling is a health risk. In others, it’s a convenient source of revenue. Some see it as a moral danger; others as digital progress. When no one agrees, the rules keep pulling further apart.
EGBA projects total European gambling revenue will reach €127.7 billion in 2025 and €149.2 billion by 2029. Online gambling will make up nearly half by then.
This growth won’t be linear or even. Markets will expand at different speeds. Some will double down on online innovation. Others will double down on restrictions. The patchwork will persist.
Maarten Haijer, EGBA’s Secretary General, noted: “Online channels are showing stronger momentum, driven by changing consumer preferences and technological advancement.”
True enough. But momentum alone doesn’t guarantee unity.
If Europe aims to build a single digital market, it must reckon with gambling’s fragmentation. The current map is less of a unified field and more of a jigsaw puzzle. And it’s not just businesses feeling the strain. Players are left worse off, too.
Different standards mean different safeguards. Players are not equally protected across borders. Operators face rising compliance burdens, and smaller firms are priced out. If the EU can’t align on gambling — one of the most regulated, high-revenue digital sectors — what does that say about its broader digital ambitions? As Haijer says, online is gaining ground. But Europe isn’t rising together.
The numbers are up. The policy is scattered. The potential is huge. But unless the continent finds a common and workable regulatory rhythm, this will remain less of a single market and more of a 27-player free-for-all.
The European project promised unity. Gambling isn’t there yet — but at least the map’s on the table, and the jigsaw pieces are scattered, but shifting.
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