While EU Market Takes its Lumps for 2020, iGaming Stands TallPublished December 25, 2020 by Lee R
Mobile betting will drive continuing growth in major European markets as well as emerging ones.
The European Gaming and Betting Association EGBA indicates betting revenues in Europe dropped 23% drop for 2020.
Total GGR Drop
Data totals published in collaboration with H2 Gambling Capital indicate that Europe’s total gambling revenue will drop from €98.6 billion gross gaming revenue in 2019 to €75.9 billion in 2020.
EGBA Leader Stays Positive
EGBA Secretary General Maarten Haijer put a brave face on all efforts with an evidence-based message of hope:
“We commend our members’ efforts in support of safer gambling and their significant investments in European sports. Like many other sectors, Europe’s gambling sector has taken a hit from COVID-19 this year but the growth trend of online continues to be strong.”
Room for Growth Remains
Despite the 2020 fade, Haijer reminds of the tremendous room for growth still extant to the industry, including in major EU markets France, Germany, Italy, and Spain, “where the online penetration of the total gambling market is still relatively low compared to other European countries.”
Robust iGaming Figures
Despite the challenges, iGaming maintained some robustness. The revenue figures representing totals for the EU-27 countries and the UK indicate that online gambling revenues in the EU increased from €24.5 billion GGR in 2019 to €26.3 billion in 2020 – marking a rise of 7%.
Overall Market Stung
Unfortunately, the land-based sector took such heavy hits that it tilted the entire EU take adversely. The EGBA predicts a revenue drop of 33% in 2020 for the land-based sector, from €74.1 billion GGR in 2019 to €49.6 billion.
As for the overall state of the EU industry, the EGBA predicts continued steady growth of Europe’s online gambling market, projecting online GGR to maintain the 7% yearly growth to become 33.6% of Europe’s total gambling revenue by 2025.
Mobile betting will be the key driver of iGaming growth, which EGBA predicts to account for
45.6% of Europe’s online gambling revenue in 2020 and 50.8% by 2022, with mobile betting projected to reach 58.2% in 2025.
The added capabilities of iGaming such as playing by remote and access via mobile phone keep the overall EU gaming industry afloat in 2020, with the prevailing benefits of online play still factors in rapid future growth.