According to the European Gaming and Betting Association (EGBA), the total gross gaming revenue (GGR) in Europe reached €123.4 billion ($133.2 billion) in 2024. That’s a 5% year-on-year increase from 2023 (EGBA).

And it’s not only Europe. The global market is consistently expanding, with reports predicting a market size of $186.58 billion by 2029. But, by far, the European market consistently leads. As of 2025, it makes up 41.2% of the global online gambling market (Grand View Research).

After such a phenomenal FY24, do the current data and forecasts predict a stronger 2025? Read on to find out.

Europe’s Gross Gambling Revenue Hit €123.4 Billion in 2024

Lottery and online casino revenue contributed heavily to the €123.4 billion total. Online gambling accounted for €47.9 billion, up from 37% in 2023 and reaching 39% of the revenue share. Land-based casinos generated more revenue (€75.5 billion), but their revenue increase wasn’t as substantial.

The lottery was the second largest overall, valued at €38 billion. Land-lottery games generated €30.9 billion, and the online revenue was €7.1 billion. Sports and events betting also had a strong year, generating €20.1 billion, with online activity accounting for €13.7 billion and gaming machines at €24.9 billion.

Not surprisingly, mobile gaming, including smartphones and tablets, dominated the online sector, producing 58% of online revenue, an increase of 56% from 2023.

Of all the EU-27 countries, Italy has the largest share of the market, generating €21.0 billion total GGR in 2023, followed by the UK with €19.8 billion, Germany at €14.4 billion, and France at €14.0 billion. The EGBA hasn’t released country-by-country data for 2024 yet, but we’ll be surprised if that order changes.

Interestingly, Nordic markets have the highest online penetration. The primary markets are Sweden, Denmark, and Finland, accounting for 68% of the online share, whereas countries like Spain have a 14% online share.

From all the figures, online gambling is showing the most promising trajectory, with the EGBA highlighting how growth in online markets reflects “increased digital adoption and changing consumer preferences.“

Do Current Data and Forecasts Predict a Bigger 2025?

Without a doubt. Demand Sage, the data reporting and analytics platform, has already released an article predicting the final 2025 market data and trends (in dollars). 

According to Demand Sage, 1 in 5 adults (over 882 million people) have gambled online. They’re predicting that those gamers will lead the industry to grow to $186.58 billion by 2029, which is a CAGR of 12.3% from $117.5 billion in 2025. And between 2024 and 2025 so far, the online gambling market saw an $11.28 billion increase, up from $106.22 billion.

Looking at European numbers, leading industry forecasts indicate continued growth in 2025. EGBA and H2 Gambling Capital project Europe’s total gambling GGR to increase by 3.5%, reaching €127.7 billion in 2025. Online gambling shouldn’t increase as dramatically; it is only predicted to be worth €51.1 billion, marking a 40% market share.

Europe’s economy is slightly stabilizing, and wages are improving, causing the more modest increase we’ve seen in the fiscal year 2024. But, by far, mobile gaming is leading the growth of the market. According to the EGBA, mobile gambling will control 2/3 of the revenue by 2029.

Why Europe’s Gambling Market Is Thriving

One of the leading reasons why Europe’s market is so successful is the mature legal framework that protects gamblers and online platforms. EGBA emphasizes that Europe’s “well-regulated online gambling market” with stringent consumer-protection standards is a key foundation of growth.

High internet and smartphone penetration across Europe has also made gambling widely accessible, leading most of the revenue to come from bets placed on mobile devices, according to the EGBA. With that, revenue from desktop betting is predicted to decline from 42% to 33% between 2024 and 2029, and mobiles should account for 67% of online gambling revenue by 2029.

The continued innovation within the European gambling industry to meet player demand and expectations will also help the market continue to thrive. Live dealer formats and skill-based games are dominating trends, with advances in live betting, in-play sports wagering, gaming that doesn’t require a deposit, and eSports integration keeping the market vibrant.

The data is showing 2025 will be bigger and better. And, clearly, every year after that. European marketing continues to be a leader of innovation, regulation, and massive revenue generation. It’ll be interesting to see what the final 2025 figures are.

How Does Europe Compare to Other Gambling Markets?

The next biggest market after Europe and the UK is the Asia-Pacific. Most people wrongly assume it would be the actually tightly regulated US market. According to Yahoo Finance, market predictions reached $92.34 billion and are predicted to grow to $185.2 billion by 2033, making a CAGR of 8.0%. 

Despite China and India largely banning gambling, Japan and the Philippines generated big revenue in 2024 at $8.1 billion and $7.2 billion, respectively. The benefit for most Southeast Asian countries, if you want to call it that, at least in terms of revenue, is that they have fragmented or grey-market betting scenes, meaning the region generates more than, for example, the heavily regulated US market.

The majority of America might be restricted and regulated, but North America’s regulated online market is thriving. Forecasters at Vizio predict the combined regulated iGaming GGR in the Americas, including the US, North America, and Mexico, will rise from $15.6 billion in 2022 to ~$32.5 billion by 2026, equalling Europe’s level of US$56.3 billion around 2028.  

But, as you can see from the numbers, Europe’s relatively open gambling market puts it as the leader in the industry.