Market Trends of Europe Online Gambling Industry
This section covers the major market trends shaping the Europe Online Gambling Market according to our research experts:
Improved Internet Connections and Streaming Technology
There has been a rise in the popularity of draw-based and scratch-off instant games, especially across European countries, which may positively impact the growth of the market studied. The popularity of online gambling has increased globally, driven by innovation, deregulation in important nations, and the pandemic.
In Europe, attitudes about gambling have stiffened. However, in Europe, internet gambling is considered a regulated industry. While there are still many limits on internet gaming in France, which may account for the 13% of people who think the laws are too strict, fewer people in Great Britain and Italy would agree with that conception. However, according to the International Gambling Report 2021, 63% of gamblers worldwide now prefer online gambling over offline gambling. This preference is mostly driven by lottery and sports betting among those who have engaged in online gambling in the last 12 months (17% of respondents globally).
Countries like Great Britain and Italy, where there appears to be a higher acceptance of online gambling as a leisure pastime, are driving the market.
United Kingdom Leading the Market
Sports bettings in the United Kingdom are provided by the private sector and are conducted within a competitive market. Online gambling is legal and regulated in the country by the Gambling Commission, formed by the Gambling Act of 2005. Online poker, sports betting, casino games, bingo, and lottery-style games all are under the purview of the Gambling Commission. According to the data published by Ofcom in 2021 (The Office of Communications, United Kingdom), 6% of the users aged between 25-34 and 45-54 year engaged in online gambling at least once every three months. The second highest age group was between 16 and 24 years, which accounted for 4%. Rizk Casino, 888 Holdings, Casumo Casino, bet365, and LeoVegas are some prominent players operating in the UK online gambling market.