The European gambling market experienced a remarkable resurgence in 2022, with revenue soaring by 23% to reach €108.5 billion ($115.15 billion). This impressive growth can be attributed to the reopening of land-based gambling venues, such as betting shops and casinos, which had previously faced significant setbacks due to pandemic-related closures. The European Gaming and Betting Association (EGBA) in partnership with H2 Gambling Capital recently released their annual end-of-year market data report, titled “European Online Gambling – Key Figures 2022,” highlighting the substantial recovery and stability witnessed in the industry.
Rebound in Land-Based and Online Gambling:
Following the widespread shutdowns of gambling establishments and subsequent revenue declines in 2020 and 2021, the European gambling market experienced a stabilization phase in 2022, surpassing pre-pandemic revenue levels by 8%. The report revealed that online gambling continued its upward trajectory, with gross gaming revenue (GGR) reaching €38.2 billion, an 8% increase compared to 2021. On the other hand, land-based revenue witnessed a significant rebound, totaling €70.3 billion, marking a remarkable 34% rise from 2021. However, it should be noted that land-based revenue remained 6% below the levels observed in 2019.
Insights from EGBA Secretary General:
Maarten Haijer, Secretary General of the EGBA, expressed his observations on the European gambling market’s progress in the wake of the pandemic. He emphasized the stabilizing nature of the industry in 2022, attributing it to the overcoming of unprecedented challenges and disruptions caused by the global health crisis. Haijer acknowledged the consistent growth of online gambling and highlighted the recovery of land-based gambling from the extended closures endured during the past two years.
Positive Impacts of the 2022 World Cup:
The report also shed light on the unexpected boost that the 2022 World Cup brought to operators in the gambling industry. Haijer mentioned the favorable outcomes resulting from surprising match results, which proved beneficial for bookmakers. The World Cup’s unpredictable nature generated heightened interest and increased activity within the gambling sector, contributing to the market’s positive trajectory.
In summary, the European gambling market witnessed a remarkable recovery in 2022, with revenue surging by 23% to €108.5 billion. The reopening of land-based gambling venues played a crucial role in driving this growth, allowing the industry to stabilize and exceed pre-pandemic revenue levels. Online gambling continued its steady ascent, while land-based gambling experienced a significant rebound. The unexpected results of the 2022 World Cup further contributed to the sector’s positive momentum. As the industry moves forward, it will be essential to maintain a balance between online and land-based gambling, ensuring a resilient and thriving European gambling market.