IGaming Market in Europe in 2024

In the era of digitalisation, the iGaming Market in Europe has had a quite interesting and long rise. Well, if you are an operator intending to penetrate in this highly active business line, you are in the right place.

 In this guide, you will be provided with all the information that you need as far as the iGaming market in Europe is concerned together with the aspects of the right iGaming software solution. 

 Do you know that the European market in iGaming is expected to touch US $46.774bn in 2024. 

To better illustrate that let’s look at some of the key markets in Europe. 

U.K. 

The online betting turnover of the U. K. reached £5.4 billion ($6. 9 billion); of these, £3 billion are generated through the operations of online casinos. A report from the divided sides indicated that online casinos were estimated at £ 2 billion (US$4. 9 billion (US$2. 41 billion). 

Still with new measures such as the compulsory £5 fee on operators to fund the problem gambling treatment, the online gambling market in the United Kingdom is expected to increase by 6% on average each year. 7%. 

 Germany 

 By 2024, the German internet gambling market is expected to be at US$5. to total $ 65 billion by 2003, which will be rising at a pace of 5 percent per annum. 35%. The revenue is at the moment divided between online casinos, lotteries and newer markets in the form of sports betting. 

 France 

 By 2024, the Internet gambling revenue is estimated to be US $ 4. 12 billion, increasing with a standard of 4 % per year. 7%. Even though the French gambling market is one of the best regulated in Europe, the French Gambling Act of 2010 allowed online poker, sports betting and horserace betting, but did not permit online casinos, including roulette. 

 Italy 

By 2024, Italy will probably generate online gambling revenues of USD 3. 21 billion with a growth of 5 % per year. 85%. A vast majority of online players take part in sports betting and online casinos topping the list of betting products in the country, which is attributed to over fifty per cent contribution to the country’s online gaming revenue. 

 So, what makes Europe the hotspot for iGaming?

1. Regulatory Framework 

Europe boasts some of the most mature and well-defined regulatory frameworks. Countries like the UK, Malta, and Sweden have robust systems in place that ensure fair play and player protection.

2. High Internet Penetration

Europe’s high internet penetration rate is another key factor. As of now, about 90% of Europeans have access to the internet, making it a fertile ground for online gaming.

3. Diverse Market

Europe is a melting pot of cultures and preferences. From football betting in the UK to online casinos in Malta, the iGaming business in Europe is incredibly diverse.

Choosing the Right iGaming Software Solution

Now let’s move to the main course: how to select a proper iGaming software solution? Why on earth is this so important, you may wonder? 

Well, let me tell you that having a reputable iGaming software solution is the supporting framework of any European iGaming company. Here’s what you should look for:Here’s what you should look for: 

1. Scalability

Is it possible for your software to be able to support possibly a massive number of players that might log in at the same time? Scalability is essential. An ideal software for iGaming platform should always have a scalability feature so that it could adapt to your growing business. 

2. Security

In an environment that processes millions of transactions on a daily basis, security cannot be a point of compromise. Emphasise on finding a software product that is secured with SSL encryption and it must be equipped with an ability to detect frauds. 

3. User Experience

It is bad news when your interface is clunky; players can hit the virtual door faster than the sound of jackpot. Make sure the flow of the software is intuitive and easy to use by a user. 

4. Multi-language Support

Therefore, concerning the language Europe is linguistically diverse. Your software should incorporate multilingually which will help it to appeal to a large number of people. 

5. Compliance

Make sure the iGaming software solution you are selecting meets all the requirements of the country of operation. 

The present position of the iGaming market in the European region and part played by the technology. 

Technology—that which sets on fire the European market of iGaming. Advancements such as AI and Blockchain are forcing operators to change the ways they conduct their operations. 

1. AI and Machine Learning: These technologies can assist in recommendations and suggestions of games that can be appealing to the users or even identify user’s behaviour within the game. AI can also improve security by identifying frauds. 

2. Blockchain: This technology makes gaming to be transparent and everyone to be at par with the rest. Blockchain can also hasten and secure the transactions as well, and that benefits the operators as well as the players. 

3. Virtual Reality (VR) and Augmented Reality (AR): These are the types of technologies that are going to revolutionise the future progression of iGaming. Think about the possibility to play poker in a web based casino or to bet on a football match from your home. 

Closing Words

The online gambling market in Europe has turned out to be a boom market, driven by its huge tech-savvy population and extremely high Internet penetration. 

Key hubs in the UK, Italy, and Germany maintain strong growth prospects for this industry. Gross gaming revenue will definitely surge due to the fact that regulations are liberalising, thus slowly bridging the gap between online and land-based gambling.

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