Gambling in Europe: Differences and Similarities with Other Markets
Gambling has been present in Europe for centuries, and each nation has its own preferences when it comes to this exciting pastime.
As a whole, the European wagering market is pretty vibrant, and this article will tell you all about its specifics, as well as the differences and similarities with other markets in the world.
The Gambling Scene in Europe
The European market includes countries with different attitudes and laws that regulate wagering. Those that are pro-gambling make up the largest portion of the overall market revenue which reached €81.1 billion in 2020. By 2026, the figure is expected to reach €126.3 billion. Thanks to the widespread rise of digitalization, a large number of punters turned to online gambling, and this section of the industry is likely to reach a revenue of €52 billion in 2026. The number of operators is also constantly growing and players can now easily find amazing online casinos in Europe. Virtual gambling sites are gradually stealing the attention of physical establishments, even though there are more than 1200 land-based casinos on the continent, according to Emma Crossick - CasinoTopsOnline European Market Expert & Contributor. Despite the wide selection of brick-and-mortar venues, nothing beats the convenience of playing on the web.
The Attempted Harmonization Across the Borders
Due to the diverse cultural and legal systems present on the continent, trying to unify gambling regulations is a challenge of its own. However, the European Union strives for harmonization, doing whatever it can to bridge the gaps between contrasted national policies. This is largely done through the creation of the European Gaming and Betting Association designed to introduce standardization across state members. The unity also refers to online wagering. However, despite the obvious push for a unified approach, there is also room on the continent for countries that have the need to reshape the recommended regulations to fit their local norms and economic agendas. So for instance, the UK’s Gambling Commission is known for its strict measures, while Sweden nurtures an approach that supports variety and competition by breaking the state monopoly. As a result, Europe offers a diverse gambling ecosystem that is able to quickly adapt and thrive regardless of the differences between the nations.
Gambling in Europe vs. the United States
While the majority of European countries benefit from a pretty flexible approach to gambling laws and regulations, the situation is much different in the United States. Even though gambling is legal under federal law, individual states have the power to decide whether they allow the practice within their territory or not. Not that long ago, wagering was only allowed in certain states, such as New Jersey and Nevada, but this is now rapidly changing as more regions begin to pass less stringent laws.
Even though both parts of the world boast a large number of passionate online punters, gambling on the wide also brings about another difference between the two. Namely, European online gambling companies have had a much stronger influence than American ones. As a result, European countries played a significant role in the internet-based revolution that happened on the global wagering scene. However, the US is gradually catching up by starting to launch innovative game titles.
What About Asia?
Asia shows interesting statistics when it comes to the popularity of online vs. physical venues. While the demand for land-based casinos is declining in Europe, in Asia it is actually growing. This happens because the majority of countries changed their laws and regulations to support the practice. Only a few governments in the area classify gambling as illegal. Thanks to this change, many players simply feel the need to enjoy the genuine atmosphere of brick-and-mortar establishments. Even though this trend is present across the continent, there is no uniform approach in the area, which is another difference between Asia and Europe. As for the similarities, they lie in the overall passion for both traditional casino games and sports betting.
Europe has always been a fertile ground for different types of wagering, so it is no wonder that both land-based and online casinos are thriving within its territory. The region shares a similar passion for gambling with other parts of the world like Asia and the US, but it particularly stands out for its somewhat unified approach to relevant laws and regulations.
