Europe’s gambling industry is booming, but rankings depend on how you measure success. Some countries dominate in total revenue, others in online market share, and still others in average spend per adult. From Italy’s land-based dominance to the Nordic countries’ digital lead, here’s a breakdown of who’s winning—and why.
Italy leads in revenue, but not per capita
Italy is currently the largest gambling market in Europe, generating €21 billion in gross gaming revenue (GGR) in 2023. The United Kingdom follows closely with €19.8 billion. Next come Germany and France.
When it comes to the online gambling sector, however, the UK takes the lead with €11.1 billion in 2023—far ahead of Italy’s €4.6 billion and France’s €3.8 billion.
However, the picture changes when comparing revenue to population size or average spend per adult. Italy, the continent’s gaming giant, only ranks fourth with an average of €437 spent per adult. The UK ranks sixth with €377 per adult. Smaller countries with strong gambling cultures—such as Cyprus (€543), Iceland (€504), and Ireland (€473)—lead the continent in per capita gambling spend.
Nordic countries leading the digital shift
Players’ preferences for online gambling vary greatly by country. Nordic countries such as Sweden, Finland, and Denmark present the highest online gambling market shares, with Sweden’s online market accounting for over 76% of total GGR in 2024.
By contrast, in countries like Spain and Italy, players remain more attached to land-based gambling, which still represents around 78–79% of total market revenue, according to EGBA, the European Gaming and Betting Association. Nonetheless, the shift to online gambling is expected to continue, with the overall European gambling market projected to grow to €149.2 billion by the end of the decade.
Channelisation rates: a mixed picture
Channelisation—the proportion of gambling that occurs through legal, licensed operators—is a key indicator of how well national regulatory frameworks are working. These rates vary widely across Europe, reflecting different levels of enforcement, player awareness, and market maturity.
Italy, the Czech Republic, and Great Britain currently rank among the best performers, according to , the Danish Gambling Authority.
However, these figures can paint an incomplete picture. They are often calculated based on the number of players using licensed platforms, rather than the total volume of money wagered.
For instance, data from the Dutch Gambling Authority (Kansspelautoriteit, or KSA) shows that while 91% of online gamblers in the Netherlands use legal platforms, 50% of the total amount wagered goes through illegal ones. A gap that was potentially widened by the introduction of a new deposit limit in October 2024, capping player deposits at €700 per month.
The Swedish take
To avoid those calculation biases, the Swedish Gambling Authority (Spelinspektionen) updated its methodology for calculating channelisation rates.
“It is also relevant to examine the channelisation rate in monetary terms in addition to the rate for the proportion of players, in order to get a complete picture of gambling outside the licensed system,” explained the regulator.
In Sweden, these rates are particularly affected by players’ inability to differentiate between legal and illegal platforms. A recent survey by Spelinspektionen revealed that 72% of Swedish gamblers cannot tell the difference between licensed and unlicensed gambling products.
A steady growth outlook
According to EGBA, the European gambling market is expected to continue growing steadily:
“Looking ahead, Europe’s gambling market is projected to maintain steady growth, reaching €149.2 billion by 2029,” reports the trade association. A growth that is expected to be driven by “continued digital adoption and recovery in the land-based sector”.
