A leading iGaming platform provider, BtoBet, has published a study forecasting significant expansion for the German gambling sector, anticipating it to hit £18.2 billion by 2024. This revenue surge is primarily credited to the recently enacted Interstate Gambling Treaty, which legalizes online slots and poker throughout Germany.
This updated regulatory framework is predicted to propel Germany to a dominant position within the European iGaming market, effectively tackling and minimizing unregulated market activities. BtoBet’s study anticipates a substantial rise in online casino revenue, climbing from €2.2 billion in 2019 to €3.3 billion by 2024. Factoring in the influence of the COVID-19 pandemic, which has sped up the transition towards digital platforms, the study further projects the total market value to reach a remarkable €18.2 billion by 2024.
These forecasts stem from a comprehensive examination of current data and patterns observed in preceding years. Germany, home to 83 million people, boasts the largest population within the European Union, with an estimated 20% of Germans participating in some type of gambling. The nation also possesses a strong digital infrastructure, with a mobile connection rate of 134.7% and 78.81 million internet subscribers.
The study emphasizes the increasing prevalence of sports wagering within Germany, as demonstrated by figures from the German Betting Association (DSWV). This upward trend, combined with the new regulatory environment and the country’s robust digital backbone, positions the German gambling market for strong and sustained expansion in the coming years.
The realm of wagering on athletic contests within this nation has surged since 2014, amassing a staggering €45.2 billion in that year alone. Reaching 2019, it was experiencing a period of remarkable prosperity, accumulating €92.8 billion. Despite the global health crisis causing disruptions in 2020, it still achieved an impressive €77.9 billion.