Europe Online Gambling Market size surpassed USD 25 billion in 2019 and is projected to witness over 14% CAGR from 2020 to 2026.

The market growth will be driven by incorporation of innovative and dynamic technologies. This has led to an increased demand for necessary licenses or authorization for companies launching gambling platforms or apps. Possession of an online gaming license enables businesses to conduct several activities such as e-sports, sports betting, online lottery, online bingo, online casino, online poker, live betting, and fantasy games.
 

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The ubiquitous internet in North America has revolutionized the betting industry, propelling the demand for online betting. The ongoing pandemic has encouraged betting enthusiasts to use online betting platforms to avoid crowding at physical betting sites and ensure social distancing. Several bettors still prefer playing at land-based casinos as they provide opportunities to socialize. Gambling at an online casino offers minimal social experience compared to offline betting as live games enable players to physically interact with bettors & dealers.

Cloud providers offer unlimited computing and storage capabilities to online gambling companies. The benefits associated with potential cost-savings in maintaining, managing, and hosting infrastructure are encouraging sports betting providers to migrate to cloud services. For example, Bet365 Group Ltd. has implemented a private cloud that enables the market player to provide an in-play betting system, allowing punters to place bets during a match on real-time information. It also enables the company to store and process customer data with reduced latency.

COVID-19 Impact Analysis

The Europe online gambling market experienced a significant hit during the COVID-19 pandemic. The ongoing pandemic has caused many sports leagues to shut down. A study by the UK Gambling Commission on the impact of the COVID-19 crisis on British gambling during the confinement and closure of establishments in April 2020 showed that participation of players had decreased. In March 2020, it was observed that only 0.2% of all the adults interviewed started to play compared to 2% of adults who stopped playing.

Gambling operators indicated a 5% decrease between March and April 2020 driven by the cancellation of real sporting events. In June 2020, GVC Holdings PLC reported a 50% decline in the UK retail net gambling revenue due to government-imposed lockdown on brick-and-mortar stores between March and June 2020. According to H2 Gambling Capital, a betting and gaming consultancy, COVID-19 can lead to a decline of up to 8% in the global gambling sector.

Online gambling collects massive information and data that helps bookmakers to provide better products, enhancing legal betting. AI and machine learning enable the predicting of sports pattern by following a particular set of rules. In online gambling, AI technology uses player statistics and team information for predicting the possible outcome. Data including the number of rebounds, blocks & turnovers, 3-pointers, and game scores from the past performance are used by these algorithms for predictive analysis. With advanced analytical tools, AI is revolutionizing the European online gambling industry. For instance, in September 2020, FanDuel, Inc. signed a one-year partnership agreement with Simplebet, an AI company, for allowing customers to predict and to wager on quick odds during the 2020 NFL season. The technology uses machine learning to generate fast betting opportunities throughout a sporting event.

European Market, By Type

Online bookmakers are focused on diversifying boxing betting by offering more interesting boxing bets. For instance, William Hill PLC offers specific round betting and group round betting, allowing users to bet on the winner of rounds 1 to 3, 4 to 6, or 7 to 9 and a group of rounds to predict which fighter will win. The popularity of UFC has exploded with innovative & successful marketing strategies. In March 2019, ESPN+, an over-the-top video streaming subscription service provider, partnered with UFC to host exclusive UFC PPV events.

European Market, By Device Type

The desktop segment has gained high traction over recent years due to the convenience of use and compact size. Online gambling on desktops is popular amongst several bettors. As desktops offer a larger screen view compared to mobile phones, bettors get an enhanced audio-visual experience. The dashboard of the gambling websites provides all necessary details of different games the user is interested in. It eliminates the need to visit different pages to check the status of different games. Several companies operating in the market are focusing on enhancing the user interface and developing a user-friendly website, simplifying the overall betting experience.

Competitive Market Share

Some of the key players operating in the Europe online gambling market include Flutter Entertainment, GVC Holdings PLC, International Games Technology, Kindred Group PLC, MGM Resorts International (MGM), and MyBookie.