How much will Europe's online operators earn in 2029?
In 2024, the European gambling market reached new heights, generating gross gaming revenue (GGR) of €123.4bn and exhibiting an annual growth rate of 5%. Its revenue is forecast to grow to €149.2bn by 2029, but what percentage will online operators account for? The team at Atlaslive, a developer of iGaming platforms, has compiled statistics from the region and produced a comprehensive report that answers the posed question, with the highlights presented in this article.
The land-based sector dominates the most lucrative markets
The largest markets in the European region offer interesting opportunities for iGaming infrastructure development. According to the Atlaslive report, the markets of Italy, France, Germany, and the UK are the most profitable, primarily due to their land-based operations. In turn, the markets of Sweden, Finland, and Denmark appear to be mature online gambling ecosystems.
Italy, for example, had a market revenue of €12bn last year, with online operators’ profit share of only 21.7% in Europe’s largest market. Germany follows with a total revenue of €14.4bn, where the online operators’ rate remained at 22.6%. In France, operators earned €14bn in the same period, of which 27% was online. The GGR share for UK online operators was 56% of €19.8bn.
Online operators in Sweden generated a record 68.3% of revenues, while Finland and Denmark had 68.1%.
Lotteries still generate the most revenue in Europe
If we look at the 바카라 games segment, which accounts for 45% of all online gambling revenues, in isolation, we can see the opposite situation. With a total revenue of €30bn, online platforms earned €21.5bn, while land-based venues earned €8.5bn. The segment is projected to grow at an annual rate of 7.5%, and its GGR is expected to reach €30.8bn by 2029. Casino games are most favoured in countries such as Malta, Estonia, and Latvia.
Sports and event betting also exhibits a high level of online penetration, accounting for €13.7 billion out of a total of €20.1 billion, or 68%. Online bookmakers are promised a 6.9% annual growth rate and a GGR of €19.2bn. Based on the 2024 results, people in Cyprus and Slovakia spend the most on betting.
The largest single product category in Europe with a turnover of €38bn remains lotteries, predominantly in retail format. Revenues from land-based lotteries totalled €30.9bn last year, led by markets in Germany and Denmark. At the same time, the projected growth rate for online lotteries is one of the highest in the industry, at 7.7% annually, and is expected to reach €10.4 billion by 2029. The digitalisation of key players in the lottery market essentially drives this figure.
What will happen to the market in 2029
While land-based gambling dominates, posting revenues of €75.5bn, online gambling revenues are growing steadily and are expected to reach €47.9bn and account for 45% of the total market by 2029. The forecasts are bolstered by the fact that online gambling’s market share in Europe has grown by 2% over the past year. In percentage terms, online operators now make the most profit in Sweden, Finland, Denmark, and the UK.
Europe’s most profitable online gambling category remains land-based lotteries, but online 바카라 games have the potential to take their place. The same goes for betting on sports and other events. But, with the online lottery sector projected to grow at 7.7% annually, 바카라 game operators and bookmakers should make an effort to create healthy competition.
This article was first published in Russian on 13 June 2025.
