New Data Confirms the Rise of iGaming in EuropePublished April 24, 2016 by Lee R
Sports betting leads the charge in the impressive growth of online gambling in Europe.
According to data released by Global Betting and Gaming Consultant, online gaming in Europe is booming.
The gross gaming yield of $15.87 for 2015 capped a rise of 328 percent between 2005 and 2015. The five years from 2010 were particularly remarkable, as GGY jumped 198 percent. At that rate of growth, 2020 would yield a $21.88 billion a year market.
Sports betting remains the most popular form of online gambling. The percentage of contribution to iGaming revenues from that sector increased from 45.6 percent in 2005 to 48.5 percent in 2015.
In a continental landscape where popular casinos in Europe include EUCasino, Royal Vegas Casino and EuroGrand Casino, online casinos contributed 29.2 percent, up from 23.1 percent in 2005.
Online bingo remained steady, contributing 8 percent in 2005 and 9% in 2015.
However, online poker is flagging, with a contribution of just 13.4% this year, off almost ten points from 2005´s 13.4 %.
All online figures are issued from a total European iGaming market of an estimated $87 billion USD, the largest real-money online casino market in the world.
The European growth spearheads the robust overall global of iGaming, which is growing at an overall rate of 11 percent for a total gross gaming yield of approximately $37 billion a year. At this point, 85 nations have legalized Internet gambling.
The United States represents the most room for growth, as only three states currently regulate online gaming since its American debut in Nevada in 2013. The states of Delaware and New Jersey have since joined. According to accounting firm Rubin-Brown, New Jersey revenues now represent over 92 percent of the American market, at $148.8 million. Nevada follows with roughly $10 million followed by Delaware´s $1.81 million. India and Russia are two more massive markets still to be won. While the challenges remain, the potential for iGaming growth remains massive.