Online Gambling in Europe is BoomingApril 25, 2016 11:56 am
Europe’s online gambling industry is booming with the continent’s gross gaming yield (GGY) increasing by 328% to $15.87 billion between 2005 and 2015, according to the latest data released by Gambling consultancy firm Global Betting and Gaming Consultant (GBGC).
Particularly impressive was the growth the online industry experienced from 2005 to 2010 when GGY rocketed from $3.71 billion to $11.06 billion, representing a huge 198% uptick in business. That figure, however, drops to a 43% increase when one includes the data up until 2015 when GGY reached $15.87 billion.
Furthermore, the market share held by the different gambling verticals has remained fairly even across the board with the exception of online poker whose market share of 23.2% in 2005 fell to 22% in 2010, and then 13.4% in 2015. Meanwhile, sports betting has improved slightly from its 45.6% share in 2005 to 48.5% in 2015; bingo increased from 8% in 2005 to 9% in 2015; and casino are up from 23.1% in 2005 to 29.2% in 2015. Commenting on the overall figures, GBGC director Lorien Pilling, explained:
“The improvement in internet technology, graphics and gameplay have helped online casino games grow their share.”
Overall iGaming Market Share in 2015
Europe currently represents the world’s biggest online gambling market, and accounts for around $15 billion of the total global revenues generated each year of $37 billion. Europe’s revenues are also increasing at an annual rate of around 15%, which is above a global average of 11% per year.
Of all Europes’s iGambling markets, the UK is its most lucrative with 18 million online gambling accounts registered. Its various separate gambling verticals also increased impressively between 2009 and 2005, including online slots which were up by 328%, table games up 52%, and poker up 26% percent. Poker has been especially successful in the UK as the country does not ring-fence its players, unlike those of other EU jurisdictions such as France, Spain and Italy.