Revenue generated from gambling in 2023 exceeded €1 billion [$1.1 billion], marking a 79 per cent jump compared to 2020 the National Betting Authority said on Tuesday.

Presenting an overview of the industry between 2020 and 2023, the authority underlined that as part of its efforts to regulate and oversee the sector, there have been developments and a broader modernisation of the industry.

“This development highlighted the sector as a stable pillar of the economy, creating new prospects and challenges for all involved parties, as well as the conditions to attract foreign investments.”

The four-year period was characterised by significant growth in the betting market, with revenues showing a 79 per cent increase over the period, and accounting for 3.72 per cent of GDP in 2023.

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