As the European gambling market continues to grow, both sports betting and lotteries are expected to show the strongest online growth through 2029.
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00:00How is the EU reacting to the growth of the online gambling market?
00:09The COVID-19 pandemic led to the closure of physical casinos,
00:13leading to a significant surge in digital revenues.
00:17While the gambling activities industry in Europe is expected to grow until 2029,
00:22the regulated European gambling market is expected to reach 137 billion euros
00:29in gross gaming revenue in 2024,
00:32with online gambling accounting for 40% of this total.
00:36In 2024, lotteries generated 38 billion euros,
00:41while betting reached 33 billion euros.
00:44This is followed by casinos at 30 billion euros
00:47and gaming machines at 26 billion euros.
00:51Sports betting has become a favorite pastime for many Europeans,
00:55with major sporting events like the European Football Championship
00:59and the World Cup driving up online sports betting activity.
01:04Both sports betting and lotteries are expected to show the strongest online growth through 2029,
01:10with compound annual growth rates of 8.6% and 8.4% respectively.
01:17However, the industry faces several challenges,
01:20including competition from black market websites
01:23and apps operating outside the EU,
01:26as well as ethical concerns regarding gambling addiction.