Gambling in Europe remains a popular form of entertainment and a major economic activity, with a strong impact on its growth and employment. Every day, many Europeans across many different countries play games for real money or other rewards. The European gambling industry is currently contributing a lion’s share towards the industry’s total revenue. This leadership comes from the innovative character of European operators, the high internet penetration in Europe, and a lack of regulatory opportunities in the US and Asia to build similar industries.

How online gambling works in the EU

Online gambling in the EU is regulated by different frameworks with some EU countries having monopolistic regimes run by a sole public or a private operator, and others having established licensing systems for more than one operator. Online gambling is a fast developing activity in Europe, both in terms of supply and demand. Online gambling is a relatively newer leisure pursuit as compared to land-based gambling and is one of the growing industries in the European Union and in other parts of the world. This refers to a form of gambling game played through remote devices such as computer or mobile via the internet. Because consumers in Europe search beyond national borders for more competitive online gambling services, they can be exposed to risks such as fraud.

Different customer and product profiles

Revenues generated by traditional land-based operators stem from long-established products, such as those found in casinos, and offerings like scratch cards and lottery tickets. Online gambling offers a wide variety of products, and also offer party casino bonus code, sign up bonus, in-app purchases for more customer engagement. There is also a very low substitution level between the online and traditional land-based sectors because of the different player profiles. Also, in order to have a high chance of winning these games, nowadays, users tend to have access to sites like Thethaobet.com where they can research reputable online sites and narrow down their search to a particular one.

Gambling Hubs

Italy, UK, France, Germany, and Spain are the key gambling markets contributing more than 80% of the total European gambling revenues. European governments are generally more liberalized about gambling, compared to nations such as the US, although some European nations maintain a strict ban on a few popular games. Lately, the gambling market in Europe has been moving to the world wide web. According to a lepetit journal read article and other gambling websites, online gambling has been on the rise for a while now. Given the convenience and ease of access, comparing them and finding the best one is quite easy.

Online Gambling Revenue

The European online gambling sector contribute about 17.5% of the total European gambling market in 2017 and it is expected to steadily rise to 22% in 2020. However, the revenue of the offline market is also predicted to increase from €77.7 billion in 2017 to €84.3 billion in 2020.

Illegal Gambling

Despite strict regulations in the gambling industry, illegal gambling activities have been increasing across the region. Countries such as Belgium and Sweden failed to combat the growing menace caused by illegal operators although Belgium has blacklisted a total number of 107 online websites as these were found to be not owned by or partnered with land-based gaming facilities still it’s not enough. The country has also increased the fine limits.

Conclusion

The online gambling sector is a young and vibrant sector of the digital economy, and one of the few digital fields led by European companies. Additionally, the market leaders have been merging in order to increase their market share through economies of scale.