Illegal gambling operators captured 71% of Europe's online betting and casino market in 2024, totaling €80.65 billion ($93.8 billion), a 53% surge in illegal gross gaming revenue from 2023. This significant market share highlights the ongoing struggle for regulators to control unlicensed platforms, including crypto casinos and prediction markets, and poses a substantial competitive challenge for licensed gaming companies.
The European online betting and casino market is facing a severe and escalating challenge from the illegal sector, which captured a staggering 71% of the market, or €80.65 billion, in the past year. This represents a 53% year-over-year surge in illegal gross gaming revenue, indicating a significant acceleration of the problem. The growth is attributed to regulatory failures in containing unlicensed platforms, particularly crypto casinos and prediction markets, which are thriving alongside traditional illegal sportsbooks. This environment poses a fundamental threat to the viability and growth prospects of licensed operators, who are losing substantial market share and face an unlevel playing field due to their compliance and tax obligations. The sheer scale of the illicit market suggests that the total addressable market for legitimate companies is far smaller and more contested than previously assumed, creating a significant headwind for the entire regulated European gaming industry.
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