(AsiaGameHub) – Belated figures indicate that gambling revenue fell in 2024, marking an end to three consecutive years of strong expansion.
Belgium.- According to the Belgian Gambling Commission, the nation’s regulated gambling market contracted in 2024 for the first time since the onset of the Covid-19 pandemic in 2020. The delayed publication of this data, attributed to staff shortages, reveals a reversal following a 60 per cent surge in online gross gambling revenue from 2020 to 2023.
Figures from the regulator indicate that the total gross gaming revenue (GGR) from licensed operators fell by 4.86 per cent year-on-year in 2024 to €1.61bn. This downturn was primarily caused by a softer performance from physical gambling locations, although online gambling also experienced a decrease.
Online gambling accounted for 57.1 per cent of total revenue but declined by 2.7 per cent year-on-year to €919.1m. Revenue from land-based gambling stood at €690.41m, a drop of 7.59 per cent.
Breaking down the sectors, casino revenue increased by 7.32 per cent to €638.4m, with online casinos responsible for roughly three-quarters of this amount. Conversely, revenue from slot machines dropped 11.95 per cent to €384.75m, propelled by a sharp 23.8 per cent fall in online activity, even as physical slot revenue rose 4.24 per cent.
Regarding sports betting, revenue decreased by 6.59 per cent to €364.3m. Offline betting revenue fell 13.58 per cent, a predictable outcome given the reduction in retail betting licences from 535 to 408. Online betting revenue also declined, dipping by 2.11 per cent. Reduced betting on horse racing and niche markets further contributed to the weaker performance.
Low-stakes gaming revenue fell by 21.71 per cent to €222m, with café bingo revenue down 24.7 per cent.
Online gambling maintained its position as the primary revenue source, a trend solidified during the pandemic. It is significant, however, that multiple online segments registered revenue declines.
The Belgian gambling authority suggested these results could stem from a suite of regulatory measures enacted in 2023. The country started forbidding operators from offering games under multiple licence types on one website. This impacted demand for online slots, which were formerly available on sports betting platforms.
In addition, the legal gambling age in Belgium was increased from 18 to 21, and a prohibition on gambling advertisements took effect from July 1, 2023.
This article is provided by a third-party. AsiaGameHub (https://asiagamehub.com/) makes no warranties regarding its content.
AsiaGameHub delivers targeted distribution for iGaming, Casino, and eSports, connecting 3,000+ premium Asian media outlets and 80,000+ specialized influencers across ASEAN.