Belgium’s gambling market contracted in 2024, experiencing its first annual decline since the COVID-19 pandemic began in 2020. On Tuesday, the Belgian Gambling Commission reported that gross gaming revenue (GGR) from licensed operators fell by 4.86% year-on-year, totaling €1.61 billion. This decrease was largely driven by a decline in physical gambling activities, while online gambling, although still the largest segment, saw only a minor reduction. The contraction is significant as it reflects how regulatory adjustments have impacted the market’s dynamics.
In 2024, the total GGR comprised €919.10 million from online gambling, representing 57.1% of the total and marking a 2.7% year-on-year decrease. Meanwhile, land-based gambling generated €690.41 million, accounting for 42.9% of the total, with a more pronounced decline of 7.59%. The regulated sector is divided into four categories: casinos, arcade licenses, low-stakes gaming, and sports betting operators.
A detailed breakdown shows that casino GGR increased by 7.32% to €638.45 million, with online casinos contributing to three-quarters of this revenue. Conversely, arcade licenses experienced a substantial 11.95% decline to €384.75 million, with online activities dropping by 23.8%, while offline revenues slightly rose by 4.24%. Low-stakes gaming saw a significant 21.71% drop to €222 million, accompanied by a 24.7% decrease in bingo within cafés. Sports betting GGR fell by 6.59% to €364.3 million, with a 13.58% decline in offline betting and a modest 2.11% decrease in online betting.
The online gambling sector has remained dominant, generating over half of the total GGR, a trend that has accelerated since the pandemic. The casino segment showed resilience with growth in both offline and online revenues, at 3.7% and 8.7% respectively. However, offline betting was severely impacted, with a 17.9% year-on-year decline in GGR from betting shops and outlets, partly due to a reduction in the number of betting shop licenses, which fell from 535 to 408 over two years. Retail outlets also reported slight sales decreases, although the online betting landscape remained relatively stable.
Further, sports betting GGR saw a 4% increase, while horse racing and other bets significantly declined by 32.8% and 44.7%, respectively. These market shifts occur amidst regulatory changes introduced in 2023, which the Belgian Gambling Commission cites as influencing the legal market’s performance.
Key regulatory measures include a cumulative-site ban preventing operators from offering products from multiple license categories on a single platform. This particularly impacted arcade license holders, with some operators consolidating offerings at casino or betting sites, thus shifting revenue between license categories. Additionally, the minimum gambling age was raised from 18 to 21 years, and a ban on bonuses alongside stricter advertising rules and enforced ID checks were implemented. Advertising restrictions have been a focal point, underscored by investigations into promotional activities involving high-profile figures like professional footballer Eden Hazard.
These regulatory adjustments aim to bolster responsible gambling but have inadvertently slowed market growth. The Commission has expressed uncertainty over whether these rules have successfully enhanced player protections. The 2024 market contraction follows a period of robust online GGR growth from 2020 to 2023, with a cumulative increase of approximately 60% and an 18% expansion in 2023 alone.
The Belgian regulator underscores the necessity of conducting urgent research to determine if players have migrated to unregulated channels. It also highlighted delays in the 2024 reporting due to changes in financial reporting processes and staffing shortages in the financial control unit. The figures for the 2025 market are anticipated to be available without delay, offering further insights into the effects of the regulatory landscape on Belgium’s gambling sector.
4.2/5
