EGBA Reports Casino Wagering Surpasses Sportsbook Revenue
LISTEN TO THIS ARTICLE:The European Gaming and Betting Association (EGBA) has published its Annual Activity Report, showcasing the recent trends in online gambling for 2023.
According to data from the report, casino revenue constituted 48% of total revenue in Europe, while sports betting contributed 43%. The figures are highly significant since they mark the first time casino revenue will overtake earnings from sports betting in the overall European gambling market.
Despite this, there was an 8% drop in the combined online gross gaming revenue of EGBA members to €10.7bn, which represented one-third of Europe's total online GGR.
Online Gambling Industry Insights and Challenges
Revenue from live online casinos reached €5.2bn in GGR, showing a 1% annual decline, while sports betting amounted to €4.6bn, a 13% decrease.
Pre-match betting contributed 62% to the total online sports betting GGR. Additionally, the EGBA report highlighted a 19% year-on-year rise in total online stakes to 132 billion, with a 9% decrease in corresponding value to €184bn.
The report indicated that the average value of online stakes for all products was €1.40, a drop of 53% compared to 2018. Customer winnings amounted to €173bn, while active online customer accounts increased by 5% to 31.2 million.
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.
Anti-Money Laundering Efforts
The report data also highlighted the milestones achieved by EGBA throughout the year via its partnership with gambling stakeholders to improve the standards and ensure better transparency in Europe’s regulated gaming markets.
In the aspect of Anti-Money Laundering, the past 12 months saw the organization collaborating with its members to implement new industry guidelines, reinforce due diligence, report on suspicious transactions, and improve record-keeping practices.
The European Commission proposed a legislative package in July 2021 to strengthen the EU's AML and anti-terrorist financing measures, with the final Transfer of Funds Regulation (TFR) expected to be effective from January 2025.
Cyber Security Expert Group
In 2023, EGBA established an expert group to facilitate the exchange of best practices and intelligence among operators concerning cyber threats. The platform enables operators to partner on security practices to address issues like credential stuffing and the implementation of Web Application Firewalls and multi-factor authentication for players.
EGBA members are at the center of industry efforts to promote the highest cyber security standards. In 2021, our members alone thwarted 8500 cyber-threats against their European websites. EGBA’s cyber security expert group supports these efforts by contributing to a more joined-up industry response and setting a benchmark for maintaining high cyber security standards.
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