Three Opportunities and Three Challenges for the European iGaming Market

Regulatory reform, increased digital adoption and personalisation are the three biggest growth levers for the European iGaming market over the next decade, while channelisation, fragmented national rules and brand building remain the main obstacles. The European gambling market generated an estimated €123.4 billion in gross gambling revenue (GGR) in 2024, with online gambling accounting for €47.9 billion of that total. These figures cover the EU-27 and the UK and underpin the opportunities and challenges explored ahead of SBC Summit Europe 2027.

Opportunity 1: Regulatory change opening addressable markets

Regulatory reform can expand the licensed market by bringing activity that previously sat outside domestic licensing into reach. Finland provides the clearest near-term example. From 1 July 2027 the country will open betting, online casino, online slots and online bingo to licensed competition, ending Veikkaus’ monopoly across those products. Operators have been able to apply for licences since March 2026, giving international brands time to prepare before the competitive market goes live.

Research cited during Finland’s reform indicates about half of the country’s online gambling expenditure has taken place outside the domestic monopoly system. The Finnish Government has made improving the channelisation rate an explicit objective of the licensing model. When Finland’s market opens, operators will compete for an existing pool of players rather than starting from zero.

Opportunity 2: Move more of Europe’s gambling spend online

Land-based activity still dominates overall European GGR. Online gambling represented 39% of European GGR in 2024, compared with 61% from land-based gambling, and digital share is projected to rise to 45% by 2029. The split varies sharply by market: online accounted for 21.7% of GGR in Italy and 14.2% in Spain in 2023, while it exceeded two-thirds of GGR in Sweden, Finland and Denmark.

Operators aiming to grow across Europe can therefore focus on converting offline players to online customers rather than creating wholly new demand. Flutter’s acquisition of Snai in Italy was framed around that dynamic: Flutter noted online represented only 21% of Italian gambling GGR in 2023, compared with more than 60% in mature digital markets such as the UK, and cited further digital adoption as a growth driver.

Opportunity 3: Personalisation to raise yield from existing customers

Personalised experiences are now expected by a majority of players: research cited by Optimove finds 71% of players expect personalised engagement with casino brands. Recommendation engines and machine learning can surface games and offers tailored to individual tastes, and operators can use CRM to personalise communications and bonus allocation.

Evolution said in its 2025 annual report that it had integrated artificial intelligence into recommendation engines and made its Smart Lobby more localised. Entain’s 2025 annual report describes CRM and machine learning helping to personalise content, improve engagement and support smarter bonus allocation. Personalisation can therefore increase lifetime value in markets where growth depends on existing relationships, but it must operate inside responsible gambling and player-protection requirements.

Challenge 1: Keeping players within the regulated market

Channelisation remains a core regulatory and commercial challenge. A study commissioned by Germany’s regulator, the Glücksspielbehörde für den organisierten Markt (GGL), estimated 77.03% of German online gambling activity was channelled through the regulated market in 2024, leaving 22.97% with unlicensed operators. Germany is testing whether greater flexibility inside the legal online casino market can improve that rate: the standard maximum stake for online slots is €1, but approved operators may allow eligible players stakes up to €3 and, under stricter conditions, up to €5; that arrangement runs until 31 December 2027.

Taxation and regulatory costs also affect channelisation. Remote Gaming Duty in Great Britain increased from 21% to 40% in April 2026, and the general rate of remote betting duty is scheduled to rise to 25% in April 2027. The Betting and Gaming Council has warned higher taxation and other restrictions risk pushing activity towards unlicensed operators. Finland’s reform illustrates the opposite tack: by opening a previously monopolised market to licensed competition from 1 July 2027, Helsinki aims to bring more existing online activity into a supervised market.

Challenge 2: Scaling across Europe is complex

Europe presents many national markets, each with distinct rules on products, advertising, taxation and player protection. Online casino is still prohibited in France, while operators in Denmark can offer slots, roulette and blackjack online. Marketing constraints, licensing conditions and compliance obligations vary and often force operators to adapt product sets, promotional approaches and local teams.

That complexity raises costs and strategic choices. Large international operators can manage multi-market scale; smaller operators and suppliers must be selective about where to enter because there is no single European playbook.

Challenge 3: Building brand recognition in mature markets

Securing a licence does not guarantee market share. New entrants must convince players to switch from established brands. BetMGM launched in Great Britain in 2023 and invested heavily in a Chris Rock-fronted campaign across TV, digital, radio, social, out-of-home and live sport. Challenger operator Midnite raised visibility after securing a credit facility worth up to $100 million in 2025 and a $35 million Series C round in January 2026. Midnite became an official UK betting and casino partner of the 2025 World Snooker Championship, partnered with Championship football clubs and sponsored Channel 5’s coverage of the FIFA Club World Cup.

These examples show marketing and sponsorship can be costly. Operators must also build product propositions that give customers a reason to stay after acquisition.

What comes next

Maturity defines both the largest opportunities and the biggest obstacles. Regulatory openings such as Finland’s move on 1 July 2027, rising digital adoption (from 39% online in 2024 toward 45% by 2029) and personalisation supported by AI are the main growth levers. The market’s obstacles — unlicensed competition, divergent national rules and the expense of brand building — make growth harder to capture.

These themes will be discussed at SBC Summit Europe, taking place 19–21 April 2027 at RAI Amsterdam. The event is positioned as a meeting place for operators, suppliers, regulators and policymakers to debate channelisation, taxation, advertising restrictions, player protection, compliance technology, payments and the impact of AI on iGaming. Learn more about the conference agenda and sessions at SBC Summit Europe and the regulatory topics to be covered at regulation.