The EGBA’s annual report shows how online casino revenue in 2022 surpassed that of sports betting platforms for the first time ever. [Image: Shutterstock.com]

Some interesting findings

The latest annual activity report from the European Gaming and Betting Association (EBGA) focused on 2022 data shows that online casinos in the region generated more revenue than sports betting platforms for the first time ever.

total revenue for EGBA operators in 2022 was €10.7bn

Both segments experienced drops from 2021 figures, with sportsbooks experiencing a fall of 13% to €4.6bn ($5bn) in comparison to a 1% decrease for online casinos to €5.2bn ($5.6bn). Revenue for EGBA operators in 2022 was €10.7bn ($11.5bn), an 8% year-on-year fall. Poker sites accounted for just 6% of the total.

More people gambling online

According to the EGBA report, the number of people with active gambling accounts rose 5% to 31.2 million and operators carved out an average margin of 5.8% during the period, which means the return to player (RTP) on average was 94.2%.

EGBA members operate across 22 European countries and collectively hold 267 online gambling licenses.

The average stake from online customers was down to €1.40 ($1.51) in 2022, which is over half of the typical bet size in 2018. The number of bets people are placing online is constantly rising, hitting 132.5 billion in 2022 compared to just 31.6 billion four years previously.

Explaining the drop

Speaking about the report, EGBA Secretary General Maarten Haijer attributed the overall drop in revenue to various factors, including “the impact of the cost-of-living crisis on customer gambling habits and a streak of customer-friendly sports results.”

a greater level of transparency across the European gambling industry

The EGBA’s aim is to raise industry standards and generate a greater level of transparency across the European gambling industry.

Some of big changes that the EGBA has pushed recently include improving standards in safer gambling and anti-money laundering. It is looking to standardize markers of harm across the continent and is trying to cultivate more collaboration on key matters like cybersecurity.