The iGaming industry has experienced dramatic growth in the past few years and continues to expand rapidly. This has provided prospects for technological producers, business investors, and iGaming customers – visit megareel.com.
But why is it that Europe is in the lead? Read on to find out more about iGaming growth across Europe.
Biggest iGaming Markets in Europe
The gambling market in Europe is enormous; it accounts for 49% of the global market, and its popularity is mainly among players. The gambling demographic in Europe is relatively high, and the market share of European online casinos stands at 23%. These statistics are expected to increase in the coming years, mainly due legalization of some forms of gambling, either land-based or online, in all states.
Malta is considered the iGaming capital of the world. This is associated with its large number of operators spread across the country and the vast employment opportunity they create. The Malta Gaming Authority is one of the leading licensing authorities in Europe. Major iGaming companies have their headquarters in Malta, which makes it an international gaming hub.
Accelerated Growth of Europe’s iGaming Industry
Europe has registered increased rates of iGaming involvement in recent years. Denmark, Sweden, and Norway ranked top. Sweden comes first in player participation, with its online gambling activities accounting for 59% of the nation’s gambling revenue.
In 2019, Denmark recorded the second-highest participation rate, with iGaming accounting for 53.1% of the revenue. Mobile gaming was high and accounted for 32.3% of the country’s income.
Norway came in third. If you are keen, you will note all three states are Scandinavian. This shows the significant impact of iGaming in this region of Europe. The UK came in fourth, with online platforms contributing 45% of its revenue.
It is safe to say that the availability of a wide range of online gambling sites and different sportsbook options may be the reason for the high turnaround in these nations. With more options on the iGaming platforms, betting companies have reached a more extensive and more diverse audience base.
What Contributes to Europe’s Advance in iGaming?
Globally, no region is compared to Europe in terms of the size of the iGaming market. Statistics in 2018 showed that online gambling revenue generated by European operators was € 22.2 billion. In short, the European iGaming sector accounts for nearly half of the global gambling market.
Today, most Europeans access online gaming through several methods. Popular methods include mobile apps on their desktops, smartphones, iPads, or tablets.
Moreover, the long-established legal gambling market and the high number of European consumers have led to many companies having their headquarters in Europe. This has led to an increase in the growth of iGaming technology. Most leading iGaming developers are based in Europe, particularly Scandinavian countries.
The growth of iGaming in Europe is significantly high, and there is no turning back. With many iGaming companies based here, there is no way that the trend will slow down. We can only expect an upward trend with innovations.