The European iGaming sector reached a gross gaming revenue of €123.4 billion across the EU-27 and UK in 2024, reflecting a 5% increase from the prior year. Within this total, online platforms generated €47.9 billion, while land-based venues contributed €75.5 billion. This distribution shows a decade-long expansion, though individual countries exhibit stark differences in market structure.
Online gaming accounted for 39% of total European gambling revenue in 2024, up from 37% in 2023. H2 Gambling Capital projects this share will reach 45% by 2029, driven by a 6.9% compound annual growth rate, compared to 1.8% for land-based venues. By 2029, the total market is expected to reach €149.2 billion, with online contributing €66.8 billion.
Regional disparities remain pronounced. Nordic countries like Sweden already have online shares above two-thirds, while Mediterranean nations sit below the European average. These variations stem from differences in regulatory development, consumer preferences, and the pace of online licensing adoption. The UK, with its point-of-consumption licensing system since 2014, leads with an online share above 50%, whereas Italy’s 21.7% share highlights its reliance on physical venues.
The industry’s broader economic contributions include hundreds of thousands of direct jobs, alongside indirect roles in technology, compliance, and professional services. Tax collections from gambling have also become a dependable revenue stream for many mature markets.
Malta’s dominance as Europe’s iGaming hub
Malta’s position as the main European licensing and operational hub shapes the iGaming environment. The Malta Gaming Authority hosts hundreds of operators and suppliers, creating a cluster of technology, compliance, and business-service expertise. Many pan-European companies use Malta as a central hub for operations, even while maintaining separate national licenses. This dual-licensing approach allows them to leverage Malta’s supply chain while complying with local market rules.
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The concentration of expertise, legal infrastructure, and service providers in Malta creates a self-reinforcing cycle. Operators with Maltese bases benefit from reduced compliance costs and easier access to global suppliers, while the island’s regulatory framework continues to attract new entrants. This model proves difficult for emerging jurisdictions to replicate.
The licensing-hub model influences mature national markets. Operators hold both national licenses (in the UK, Italy, Spain, etc.) and Maltese B2B platform licenses, combining local market access with Malta’s operational efficiencies. The UK further distinguishes itself through high adoption of mobile carrier billing—a payment method less prevalent in other European regions, where card transactions and bank transfers dominate.
Regional divides: Where online gambling thrives—or lags
Italy’s €21 billion market remains Europe’s largest by total revenue, though its 21.7% online share reflects slower digital adoption. France’s €14 billion sector follows a similar pattern, with land-based gambling maintaining dominance. Germany, at €14.4 billion, has a 22.6% online share, positioning it between Mediterranean and Nordic markets. Spain, with just 14.2% of revenue from online channels, has the lowest share in the dataset.
Sweden’s 68.3% online share and Denmark’s 68.1% reflect high mobile penetration, robust banking systems, and early adoption of online licensing. Germany’s 2021 Glücksspielstaatsvertrag regime, designed with strict consumer protections, has constrained the growth of its regulated online sector, leaving substantial demand in unregulated channels.
Payment preferences vary significantly across Europe. The UK’s widespread use of mobile carrier billing contrasts with other markets, where card payments and bank transfers prevail. This difference stems from the UK’s early adoption of carrier billing as a primary deposit method, supported by its high mobile usage. In Sweden and Denmark, digital wallets and instant bank transfers are more common, reflecting broader trends in Nordic financial services.
