How to see if the business is growing? Finance is the answer! Only money knows how successful an industry is. Gambling is definitely one of the fast-growing sectors that demonstrated financial increases even during the global pandemic. GBC Time has listed the latest gambling financial reports in the article to understand how fast the industry has been growing.
Online gambling became a driver of the industry’s growth when COVID-19 unexpectedly hit up. Customers got involved to the conditions of no option to get outside. They needed to find a way to entertain themselves. Eventually, online gambling started to replace land-based activity in the main role.
Currently, the online gambling markets have distributed leadership positions in the earnings list. Here is the top rating list of the most successful online gambling markets worldwide in 2024:
- United States of America
- Macau
- France
- Italy
- Spain
- Canada
- United Kingdom
- Poland
- Japan
To see a full picture of the financial state of the industry, let us review the latest reports from various gambling authorities.
Portuguese online gambling increases
Portuguese regulator Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ) reported the online gambling revenue growth of 23.6% in the first quarter of 2024.
Online gambling in Portugal seemed to be quite popular in the first quarter of 2024. The total revenue was €158.6 million. The tourist and citizens got more interested in gambling, compared to the previous year. The 2023 revenue was €128.3 million.
Considering the particular sector’s contribution to the total income, the regulator has reported online casino profit for the same period as well. Online operators earned €80.9 million, which is 37.6% higher than in Q1 of 2023 when the revenue was €58.8 million. Portuguese bettors also demonstrated more interest in sports betting as well. The income increased to €77.7 million (11.8% growth).
How much did the gamblers spend?
Players around Portugal did not spare money on online casino websites in the first quarter. The total sum of spending was calculated to be €2.21 billion. Compared to the same period of the previous year, the difference of 37.3% is significant. However, sports betting spending decreased 12.8% to €369.4 billion.
What are the most popular games in Portugal?
- Online casino
- Sports betting
How many new gambling accounts were opened in Q1 ’24?
The regulatory establishment reports the number of newly registered accounts as 215 600. This number is 34.6% lower, compared to the previous year. Considering the self-exclusion cases, the total number was 118 900 in all active gambling forms.
Land-based gambling revenue
Offline gambling brought not as much profit to the total budget as online. The income decrease was 7.2% (€53.9 million). Of this total, €43.9 million was earned in slot machines, €9.4 million – in table games, and €663 950 – in bingo.
Gambling revenue in Denmark slightly drops
Denmark is one of the leading gambling countries. Moreover, this market is also so transparent to the world. The regulatory establishment monthly reports a detailed review of the market’s revenue, ups, and downs. So let us review the gambling report for the first quarter of 2024 in Denmark.
There are 4 main sectors included in the report document:
- Betting;
- Online casino;
- Slot machines;
- Land-based casino.
Sports betting revenue
In May, the total income in the betting sector was DKK186 million. Compared to the previous month, the difference is quite significant, DKK222 million was earned in the sports betting market. Compared to the same period of 2023, the percentage difference is a 7.6% decrease. The total income of the first quarter of 2024 was DKK975 million.
Online casino
Online casino websites brought DKK1.190 million during the first quarter of 2024. The difference from the same period of the previous year was a 2.7% decrease. In the first quarter of 2023, this market earned DKK1.223 million.
Considering the results in each particular month in 2024, in May, online casinos earned DKK246 million. Generally, the income was almost on the same level during the whole quarter. In April – DKK242 million, in March – DKK226 million.
Slot machines
This sector demonstrated the expressing increase, compared to 2023. In the first quarter of 2024, the slot machines earned DKK459 million, when in the same period of 2023, the total income was DKK62 million. Considering this difference in percentage data, it is calculated to be 641.4%.
In May, the revenue was DKK108 million, which was a bit lower than in April, when the earnings were DKK110 million.
Land-based casino
Offline casinos became another fast-growing sector of Denmark. In the first quarter of 2024 income, they were increased to DKK132 million. In the same period of 2023, the total revenue was DKK11 million. In percentage data, the difference is 1117.2%.
In May, land-based casinos brought DKK32 million, and in April – DKK35 million.
Swedish gambling market report shows consistent growth
Sweden is another unstoppable gambling market, which has reportedly been demonstrating expressing results. In the first quarter of 2024, the gambling companies in the Swedish market earned SEK6.5 billion. It is 6% higher compared to the same quarter of 2023.
Considering the cases of the banned customers, the regulatory establishment banned 73 000 people from gambling through Spelpaus.se. This data is also 6% higher than in the previous quarter.
| Gambling sector | The first quarter ‘24 | The fourth quarter ‘23 |
| Online casino and betting | 4 202 | 4 188 |
| National lottery and slot machines | 1 293 | 1 689 |
| National casino games | 103 | 144 |
| Socially useful games, national lotteries | 863 | 889 |
| Games for public purposes, indoor bingo | 38 | 43 |
| Land-based commercial games | 39 | 62 |
| Total number of players with a Swedish license | 6 539 | 7 015 |
The gambling market of Latvia shows slight revenue growth
Lottery and Gambling Supervision Inspectorate of the Republic of Latvia reported the gambling market revenue in the first quarter of 2024. The gambling income was fixed at €44 776 million – 70% for interactive gambling.
Looking at each sector individually, €13 384 million was for land-based gambling and €31 283 million or 70% for interactive gambling.
Signe Birne, Head of the Lotteries and Gambling Supervision Inspectorate said, “Comparing the revenue of interactive gambling with the results of the first quarter of 2023, the growth is 25.2%, but compared to the previous quarter, the changes are insignificant. The largest share of the 83% of the interactive gambling offering comes from casinos or slot machine games, with total betting gaming revenue down slightly to 15.6% this quarter.”
Conclusion
The gambling industry is obviously unpredictable and ambiguous. Even an insignificant at first sight bill can upside down the whole market. But still, gambling will be always growing and earning. People will be always interested in such a unique and appealing type of entertainment.
Even when the global pandemic hit up and affected the whole world, the gambling industry found a way to get up and start earning again.
Read more: Best Gambling Payment Providers
