5 crazy facts about the European gambling industry
The world of gambling in regards to both land-based and online casinos is on the rise. With changes in regulations in favor of online gambling across the world, the number of online casinos opening up is increasing.
For the growth of the online casino industry, a huge part of the credit goes to security technology companies that have stepped up their game in making online gambling a safe experience. Also, with the progress in visual experience technologies like Virtual Reality (VR) software, there are many online casinos providing their users with unique experiences.
Europeans have always been fond of gambling. It is a form of social activity that has been a part of their culture for centuries. In most European nations, gambling is looked at in a casual manner and not judged as a negative trait, unless it is an extreme case.
As mentioned earlier, European gamblers are playing in land-based and online casinos. Due to the growth in online gambling, a lot of gamblers from Europe hugely contribute to online casinos that are hosting from other countries.
The European gambling industry is thriving and is set to grow exponentially for years to come. To better understand the impact of gambling in Europe, below is a list of five crazy facts about the European gambling industry.
- Europe Leads the World of Online Gambling
You might think Europeans are old-school and probably gamble a lot in local, and land-based casinos, which is true. It is also true that Europe leads the online gambling industry by far.
To put things in perspective regarding Europe’s impact on the world of online gambling, it is important to note that Europe has a staggering 49% share of the online gambling market globally.
This is not only due to online casinos, but also sports betting websites and apps that are extremely popular in Europe. Activity in all forms of digital entertainment and gambling is led by this vast continent.
- Casino Cruises are a Trend in Europe
We often talk about land-based and online casinos, but have you ever thought about trying a sea-based casino?
All of us know about holiday cruises having a casino, but for most of us, the idea of taking a cruise specifically for gambling may not be a common one. In Europe, there is a section of people that do get involved in casino cruises for entertainment.
Of course, casino cruises are a luxury and not many can afford them. Since people in Europe are particularly fond of cruising the seas to holiday destinations, most cruise operators incorporate amazing casino setups.
These cruise casinos have all the games a land-based casino would, along with excellent customer service to bring in a rich crowd that has high budgets for gambling.
According to this article by Gamblers Daily Digest, casino cruises are super common in Europe and a few cruises fit the bill to be termed as the ‘best casino cruises in the world’, depending on their offerings, service, and reviews.
- The UK Gambling Industry is Booming
The UK permits all kinds of online gambling, and this may be one of the top reasons why it is so prominent there. They passed a law in 2005 for online gambling and sports betting to be completely legalized, and since then, the industry has not turned back.
According to Gambling News Magazine, Europeans gamble online a lot and in fact, the UK is the gambling capital of the world. The UK gambling industry has generated over $17 Billion in the last decade and $6 Billion alone has come from the online gambling industry.
With the immense popularity of online gambling in the UK, the government has taken security measures by introducing new age verification methods in 2019. They have also increased their fines by ten folds for gambling operators that do not abide by all the legal requirements.
The United Kingdom definitely has a huge impact on the world of gambling as a whole.
- Germany’s Contribution to Gambling in Europe is Growing
Germany does not have a permanent gambling treaty barring one state. In spite of this, the gambling industry in Germany is continuously growing.
It is expected that the regulations regarding online gambling will move towards more leniency in the year 2020 and that more licenses will be issued the government to new gambling operators.
According to Weekly Slots News, Germany is huge on gambling, and gambling operators in Germany are spending over $10 million per year on marketing and advertising.
The workforce in the gambling industry in Germany accounts for over 200,000 people, which further proves that gambling of all forms is there to stay in the country.
Apart from land-based casinos and online casinos, Germans are also heavily into sports betting and lotteries. Germany is the perfect example of a country where gambling is a part of the culture. The modern era and its technological advances are encouraging Germans to participate in all forms of gambling activities.
- Europe has the Most Active Online Gambling Players
Lucian Marinescu, a partner at OnlineCasinoGems, states that – “Across the board if you look at multiple countries in Europe, the number of active users in terms of online gambling has majorly increased in the last decade.”
Since 2011, the number of active user accounts in terms of gambling has doubled in France. In the last 7-8 years, the number of active users for online gambling has grown by 75% in the United Kingdom. The Netherlands too has seen a huge growth in online gambling activity.
Remote gambling activities are on the rise in countries like Spain, and they speak for the massive impact online gambling has had on this industry.
Studies are being conducted to understand why European gamblers are more active than the ones in other countries. The truth is the reasons are mixed. Europe culture has to play a part in it, but so does the interaction of Millennials with technology and gaming industries.
According to a Statista report, Italy has the highest gross gambling revenue (GGR) in comparison with the rest of the European countries. The overall GGR in Europe is expected to reach 24.7 billion Euros by 2020.
Related Articles
