The online betting market in the European sector appears to be growing quickly, according to figures released by a leading gaming industry body.
The European Gaming and Betting Association (EGBA) has published new figures, which show that the online sector in Europe has grown by 11%. The figures also show that the UK leads the way when it comes to online betting, with a healthy 32.4% slice of the total market.
The data was released through a partnership between the EGBA and H2 Gambling Capital and it shows that revenue for the sector grew from €20 million in 2017 to €22.2 million.
Speaking about the figures, the secretary general at the EGBA, Maarten Haijer, said that it showed that there was a huge demand for online gaming, but also warned of the need for improvement when it came to the uniformity of regulatory standards across Europe:
“But its increased popularity reinforces the need for more consistent and strong consumer protections and industry standards across all EU countries. The current situation of diverging and sometimes conflicting regulations in EU countries is detrimental to consumers, authorities and operators alike.
EGBA speaks on behalf of a number of Europe’s leading betting operators, including Betsson Group, Bet365, GVC Holdings PLC, MRG and the ZEAL Network. In total, the EGBA members hold 121 licences to offer betting services in 20 different EU countries.
The figures also showed that online gambling is a growing factor as a percentage of the total European gambling market. It accounts for 23.2% of the EU betting market. And there has been huge growth in the popularity of mobile betting, with 43% of online wagers made using phones, a rise of 39% on the same figure for 2017.