Online casino revenue overtook sports betting revenue across Europe for the first time in 2022, according to the European Gaming and Betting Association.
The EGBA’s Annual Activity Report revealed that casino revenue accounted for 48 per cent of total revenue across the continent, with sports betting bringing in 43 per cent of revenue.
However, there was an eight per cent decrease in the combined online gross gaming revenue of EGBA members to €10.7bn, which accounted for one-third of Europe’s total online GGR.
Maarten Haijer, secretary general of the EGBA, said: “Over the past year, we have focused our efforts on raising industry standards and driving positive change within the sector. We are grateful for the trust and support of our members, who push progress forward and regularly demonstrate their commitment to being open and transparent, including by sharing their valuable industry data.
“The recent decrease in revenues could be attributed to a combination of factors, including the impact of the cost-of-living crisis on customer gambling habits and a streak of customer-friendly sports results.”
Casino revenue accounted for €5.2bn in online GGR, a one per cent yearly decrease, while sports betting was worth €4.6bn, a drop of 13 per cent.
Pre-match betting accounted for 62 per cent of online sports betting GGR.
The EGBA report also revealed a 19 per cent year-on-year increase in total online stakes to 132 billion, with those stakes worth €184bn, decreasing nine per cent.
The average value of online stakes across all products was €1.40, a 53 per cent decrease from 2018.
The report found €173bn was paid out in customer winnings and there was a five per cent increase in active online customer accounts to 31.2 million.