The gambling industry is undergoing a quiet yet massive transformation. Just a few years ago, the bulk of revenue came from land-based casinos, lottery kiosks, and betting shops. Today, an increasing amount of money flows through smartphone screens, while regulators across the continent are rewriting the rules of the game. Mikhail Zborovskiy, an iGaming strategic development expert, believes that the combination of mobile technology and mature regulation will determine which companies remain in the market five years from now.
We examine the latest data and the trends that anyone following the industry should keep in mind.
The market is growing, but its structure is shifting
According to the European Gaming and Betting Association (EGBA) and the analytics firm H2 Gambling Capital, the European market’s gross gaming revenue reached €123.4 billion in 2024, a 5% increase year-on-year. Of this total, the online segment accounted for €47.9 billion, representing 39% of the entire market.
While the figures themselves are impressive, the underlying trend is what matters most. The EGBA forecasts that the online share will exceed 40% in 2025. This indicates that the boundary between the industry’s digital future and its traditional present has effectively blurred.
In Mikhail Zborovskiy’s view, this milestone is significant not merely as a statistic, but as a strategic signal. As the online sector crosses the 40% mark, companies that continue to view it merely as an auxiliary channel risk falling behind those that build their business around a digital product.
The mobile phone has become the primary point of entry
The most notable trend in recent years is the shift of players from desktop computers to smartphones. Estimates based on EGBA data indicate that mobile devices accounted for approximately 58% of online revenue in Europe in 2024, a share projected to rise to 67% by 2029.
For the industry, this entails several practical shifts:
- Products are designed with a mobile-first approach;
- Sessions are becoming shorter and more frequent;
- Control tools are playing an increasingly important role.
Mikhail Zborovskiy highlights that the mobile format raises the bar for operator responsibility. When entertainment is always at one’s fingertips, control tools cease to be mere formalities and become an integral part of product quality.
Why markets evolve differently
Europe is not a monolith. In 13 European countries, the online segment already generates more than half of total industry revenue. Scandinavia and Finland lead the way; in Sweden, Denmark, and Finland, online channels account for approximately 68% of revenue. The UK is also among the most digitized markets, with an online share of 56.1%.
Conversely, the picture is different in the largest markets of continental Europe. The online share stands at 22.6% in Germany and 21.7% in Italy. Land-based formats, primarily lotteries, continue to dominate in these regions.
These disparities stem not only from technology but also from regulation, cultural habits, and market history. Northern countries have long-established digital infrastructures and high levels of trust in online services. In Southern and Central Europe, traditional formats remain part of everyday culture.
From a strategic development perspective, Mikhail Zborovskiy believes this means there is no “one-size-fits-all” formula for Europe.
A company operating successfully in Sweden cannot simply transplant the same model to Italy or Germany; it must take into account both regulatory requirements and audience behavior.
Multi-licensing has become the norm
Another key trend is the shift away from state monopolies toward a system where multiple private operators can obtain licenses. In 2025, Finland became the last EU country to transition from a monopoly to a multi-licensing model. Now, all European Union states employ some form of this model.
For the market, this means increased competition but also greater responsibility. Regulators issue licenses subject to specific conditions: player protection, age and identity verification, anti-money laundering measures, and transparency regarding ownership structures.
The growth in the number of licenses held by major players is telling. In 2025, EGBA members held 401 online licenses across 22 European jurisdictions, up from 321 the previous year. Their combined online revenue rose by 34% to €18 billion.
Mikhail Zborovskiy believes this growth in licenses reflects a simple logic: in a mature, regulated market, a license becomes a company’s primary asset. It is the key that unlocks access to payment systems, advertising channels, and audience trust.
Revenue-generating products
Europe’s online market rests on two main verticals. According to EGBA data, online casinos account for 45% of online revenue, while lotteries make up 15%. Among EGBA members, casinos generate 48% of revenue and sports betting 46%, with sports betting showing the fastest year-on-year growth.
For the industry, this implies competition not only between companies but also between forms of entertainment. Operators capable of combining various products into a single, user-friendly app gain an advantage in audience retention.
What this means for the industry
When all the trends are combined, the picture looks like this:
- Online gaming has moved beyond the niche stage to become a primary channel in most European countries;
- The mobile format defines the product;
- Regulation is intensifying and becoming standardized, with licensing emerging as a key operational requirement;
- Markets remain diverse, and strategies must account for local specifics.
In the coming years, the winners will not necessarily be the companies that launch new products the fastest, but rather those that can combine technological sophistication with regulatory compliance and transparency, notes Mikhail Zborovskiy. In a regulated environment, trust from both users and regulators becomes a competitive advantage just as significant as a user-friendly app or a wide selection of games.
Frequently Asked Questions
What share of the European gambling market is online?
According to EGBA data, the online segment accounted for 39% of the European market in 2024, with its share projected to exceed 40% in 2025.
Which European countries are the most digitized in this sector?
Sweden, Denmark, and Finland, where online channels generate approximately 68% of revenue, as well as the UK, with an online share of 56.1%.
What is multi-licensing?
It is a regulatory model in which multiple private operators can obtain an operating license, rather than the market being restricted to a state monopoly. Following Finland’s transition in 2025, this model is now in place across all EU countries.
Why is the share of mobile betting growing?
Smartphones have become the primary device for most digital services, and online entertainment is following this same trend. By 2029, mobile devices could account for approximately two-thirds of online revenue in Europe.
