EGBA Report on European Gaming Puts Online Casinos in Front of Sports Betting

Article by : Erik Gibbs Feb 5, 2024

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While sports betting has continued to dominate in world markets like the US, in Europe, a notable shift has reflected the opposite. Casinos have taken precedence over sports betting, as shown by recent data from the European Gaming and Betting Association (EGBA).

As per insights from the data compiled by members of the trade organization, 2022 witnessed a shift in player behavior within the gambling landscape.

Although the overall value of bets registered a 9% year-over-year decrease, plummeting to €184 billion ($198 billion), the volume of wagers surged by an impressive 19%, reaching a substantial €132 billion (US$141.71 billion).

The online gross gaming revenue (GGR) experienced an 8% dip in 2022, amounting to €10.7 billion ($11.5 billion).

Notably, a pivotal moment emerged as casino revenue surpassed that of sports betting, constituting 48% of the total online revenues for EGBA members, marking an important industry shift.

Maarten Haijer, the Secretary General of the EGBA, underscored the organization’s dedication to elevating industry standards and fostering positive transformations.

Expressing gratitude for the unwavering support of their members, Haijer acknowledged the industry’s commitment to transparency, evident in the sharing of valuable data.

He also noted that the recent decline in revenues could be attributed to a confluence of factors, encompassing the influence of the cost-of-living crisis on gambling habits and a series of sports outcomes favoring the customers.

EGBA has championed anti-money laundering (AML) initiatives, steering Europe’s gambling market toward global leadership. Collaborating with members, the organization spearheaded the implementation of robust industry guidelines, bolstering due diligence, enhancing reporting on suspicious transactions and elevating record-keeping standards.

Aligned with the European Commission’s legislative push, these measures are primed to meet the stringent AML and anti-terrorism financing regulations taking effect across European jurisdictions from January 2025.

EGBA intensified collaborative endeavors among its members, focusing on bolstering cybersecurity measures in 2023. An expert group emerged to facilitate the exchange of best practices and intelligence, particularly in addressing cyber threats.

Operators shared insights on combating credential stuffing, leveraging Web Application Firewalls and implementing multi-factor authentication.

Daniele Perrone, Senior Legal Advisor at EGBA, emphasized the association members’ pivotal role in upholding cybersecurity standards.

In 2021 alone, members thwarted 8,500 cyber-threats against their European websites, with the cybersecurity expert group enhancing industry-wide coordination for a robust response and maintaining elevated standards.