Belgium’s regulated gambling market experienced a contraction in 2024, marking its first full-year decline since the onset of the Covid-19 pandemic in 2020.
New figures released by the Belgian gambling regulator on Tuesday revealed that total gross gaming revenue (GGR) across licensed operators fell by 4.86% year-on-year to €1.61 billion.
This downturn was driven primarily by a significant drop in physical gambling activities, despite online gambling, still the largest segment, only seeing a slight reduction.
The total GGR for 2024 was €1.61 billion. Online GGR came to €919.10 million (57.1% of total), down 2.7% year-on-year. Meanwhile land-based GGR was reported as €690.41 million (42.9% of total), down 7.59%.
The licensed sector was separated into four sections; casino, arcade licenses, low-stakes gaming and betting operators.
Casino GGR rose by 7.32% to €638.45 million, with online casinos accounting for three-quarters of this revenue.
Meanwhile, arcade licences declined by 11.95% to €384.75 million. Notably there was a 23.8% plunge in online activity, while offline revenue increased by 4.24%.
For low-stakes gaming, GGR dropped sharply by 21.71% to €222 million, whilst bingo in cafés also decreased by 24.7%.
Sports betting GGR fell by 6.59% to €364.3 million; offline betting declined 13.58%, with online betting decreasing slightly by 2.11%.
Industry looking inward
Online gambling remained predominant with online channels generated over half (57%) of total GGR. This was a trend that accelerated throughout the Covid pandemic.
The casino segment showed growth in both offline (+3.7%) and online (+8.7%) revenues.
Offline betting was severely impacted with betting shops and outlets suffering a 17.9% GGR decline year-on-year, partly because the number of betting shop licences fell from 535 to 408 within two years.
Retail outlets also reported modest sales decreases, though online betting remained comparatively stable.
Sport betting GGR increased by 4% while in contrast horse racing and other bets faced steep declines, falling 32.8% and 44.7% respectively.
Regulatory changes impact market performance
The Belgian gambling regulator attributed the decline to several regulatory measures introduced since 2023, which have affected the legal market’s performance.
This included a cumulative-site ban. Operators are prohibited from hosting products from multiple licence types on a single platform. This had a pronounced effect on arcade licence holders. Some operators consolidated offerings at casino or betting sites, resulting in revenue shifting between licence categories.
It also included a minimum gambling age increase from 18 to 21 years, a ban on bonuses and stricter advertising rules and enforced ID/Epis checks.
Advertising restrictions have been a particular focus for Belgian regulators, highlighted by recent investigations into high-profile promotional activity involving professional footballer Eden Hazard.
These regulatory adjustments, while designed to strengthen responsible gambling, have slowed growth.
The regulator also cautioned that it remains uncertain whether these rules have successfully improved player protections.
First overall contraction since 2020
Online GGR in Belgium saw robust growth from 2020 to 2023, with a cumulative increase of approximately 60% over those years and 18% growth in 2023 alone.
The regulator stressed the need for urgent research to assess if players have shifted to unregulated channels.
It also noted delays and summarisation in the 2024 reporting. This was due to changes in financial reporting processes and understaffing in the financial control unit.
The 2025 market figures are expected to be released promptly.
Kathryn Evans
Kathryn covers bitesize breaking news with a primary focus on EMEA and US legislation. A proud North Walian, fluent Welsh speaker and lifelong Wrexham FC fan – long before Hollywood came calling.
Original article: https://igamingbusiness.com/finance/belgium-gambling-market-records-first-decline-since-pandemic-in-2024-stats/
