A new study by Yield Sec, commissioned by the European Casino Association, has revealed that illegal operators accounted for €80.6bn of the €114.3bn online gambling market across the EU in 2024. Licensed and regulated operators generated only €33.6bn, capturing just 29% of the market.
The report warns that governments lost an estimated €20bn in tax revenue last year due to unregulated operators. Alarmingly, 92% of gambling-related content seen by consumers online originated from unlicensed firms, with 81 million Europeans engaging with such services. Regional disparities showed Eastern Europe most affected, with 82% of its revenue coming from illegal gambling.
Aggressive marketing, the rise of cryptocurrency casinos, and deepfake celebrity endorsements have fueled the surge, exposing consumers to fraud and lack of protection. The report stresses that stricter regulation on licensed operators alone is insufficient; coordinated enforcement against illegal providers is essential.
This imbalance, described as a “Jenga tower” effect, threatens the sustainability of Europe’s regulated gambling industry and public finances.
