- Germany's online market produced about €3.5 billion of gross gaming revenue, of a €14.4 billion legal market, according to its regulator's annual report as reported by trade press.
- France reported €2.62 billion online, from sports betting, horse betting and poker only; online casino is not licensed there.
- Sweden's commercial online gaming and betting brought in SEK 18.4 billion; Denmark's online casino DKK 4.3 billion, a figure the regulator states at 2026 price level rather than in nominal 2025 kroner.
- The Netherlands fell to about €1.2 billion online, down 18.5%, as its gambling tax rose.
Online gambling revenue in Europe's regulated markets ranged from under €1 billion in Belgium to around €3.5 billion in Germany in 2025, on the figures national regulators have published. Those figures are gross gaming revenue, broadly what players staked minus what they won, but each regulator defines and scopes it slightly differently, and some publish in kronor rather than euros. We have not converted currencies, so that each number matches its source.
Several regulator websites could not be opened for this edition. Where a figure comes from trade press quoting the regulator's report, the table says so, and we will replace it with the regulator's own document when we can read it.
Online GGR by market
| Market | Regulator | 2025 online GGR | What it includes | Source grade |
|---|---|---|---|---|
| Germany | GGL | €3.5bn | Online share of €14.4bn legal market; virtual slots €543m, poker €69m | Regulator via trade press |
| France | ANJ | €2,617m | Sports betting €1,766m, horse betting €326m, poker €525m | Regulator |
| Spain | DGOJ | €1,700.55m | Casino 52.5%, betting 41.1% of the total | Regulator via trade press |
| Portugal | SRIJ | €1,206m | Casino €759m, sports betting €447m | Operators' association; consistent with quarterly figures attributed to the regulator |
| Netherlands | Kansspelautoriteit | about €1.2bn | H1 about €600m plus H2 €602m (our sum) | Regulator |
| Greece | Hellenic Gaming Commission | about €1.19bn | 38.79% online share of €3.073bn total (our calculation) | Regulator via trade press |
| Belgium | Kansspelcommissie | €964m | About 60% of the sector | Regulator via trade press |
| Sweden | Spelinspektionen | SEK 18,414m | Commercial online gaming and betting combined | Regulator |
| Denmark | Spillemyndigheden | DKK 4,309m | Online casino only, adjusted by the regulator to 2026 level using GDP (no nominal figure published); betting DKK 2,130m across all channels on the same basis | Regulator |
| Italy | ADM | not verified | Trade figures conflict; regulator report not found | Not listed |
| Ireland | GRAI | not published | Remote betting licences from 1 July 2026 | Regulator (status) |
| Finland | National Police Board | not applicable | State monopoly until licensed market opens 1 July 2027 | Parliament |
Licensees and regimes
The number of licensed operators says something about how open each market is. France had 17 online operators holding 29 licences at 31 January 2026, in sports betting, horse betting and poker. The Netherlands had 31 licensees at the end of 2025, 27 of them active, after opening its market on 1 October 2021. Sweden had 76 commercial online and betting licensees holding 130 licences under the system it introduced on 1 January 2019. Denmark had 41 online casino and 27 betting licences in force in 2025, and Portugal had 18 entities holding 32 licences. Germany had 40 licensed virtual slot operators, 37 active across 82 websites, in 2025.
The Dutch decline
The Netherlands is the clearest case of a market shrinking in the data. Online gross gaming revenue fell 18.5% in 2025, after rising 4.9% in 2024, according to the Kansspelautoriteit's annual report factsheet. The gambling tax rose from 30.5% to 34.2% on 1 January 2025 and to 37.8% on 1 January 2026, and first-quarter 2026 online revenue was €321 million. The regulator's monitoring also estimates that the licensed market's share of gross gaming revenue was 53% in the second half of 2025, well below its share of players. The figures are set out in our channelisation table and our European tax rates table.
Scope differences to keep in mind
Sweden publishes one combined line for commercial online gaming and betting, so it cannot be split by product. Denmark reports betting across all channels, with 13% of betting revenue from land-based outlets, so only its online casino figure is purely online. France's total has no casino component at all. Greece's online figure is our calculation from the regulator's published share. Italy reorganised its online licences in late 2025, with 46 operators in full operation in December 2025 according to trade press, but we found no regulator figure for 2025 online revenue, and the reported numbers conflict, so we have left it blank.
A Europe-wide estimate
For a single European number, the most cited source is the European Gaming and Betting Association's yearly key figures, prepared with the data company H2 Gambling Capital. Its latest edition we could find, published in March 2025, put online gross gaming revenue for the EU and UK at €47.9 billion in 2024, 39% of all gambling revenue, with a forecast of €51.1 billion for 2025. These are industry estimates covering regulated and unregulated activity in many markets, not the sum of regulators' figures, and should be quoted as such. EGBA separately reported that its own members generated €18.0 billion of online revenue in 2025.
Questions about European online gambling revenue
Which European country has the largest online gambling market?
Among markets with published 2025 regulator figures, Germany is the largest in the EU at about €3.5 billion. Great Britain, which reports on an April to March year, recorded £8.3 billion online for 2025-26. Italy is likely large but has no verified 2025 figure here.
Is online casino legal in France?
France licenses online sports betting, horse race betting and poker. Online casino games are not licensed, according to the ANJ.
How big is the European online gambling market overall?
The industry body EGBA, with H2 Gambling Capital, estimated €47.9 billion of online gross gaming revenue for the EU and UK in 2024 and forecast €51.1 billion for 2025. That is an industry estimate, not an official total.
Sources
- ANJ: Rapport annuel 2025 (June 2026)
- Kansspelautoriteit: Monitoringsrapportage online kansspelen voorjaar 2026 (17 April 2026); Factsheet jaarverslag 2025
- Spelinspektionen: Spelmarknaden 2025 (revised 25 August 2026); Årsredovisning 2025
- Spillemyndigheden: Spilmarkedet i tal 2025 (June 2026)
- SiGMA: GGL annual report figures for Germany (7 July 2026; secondary)
- Gambling Insider: DGOJ 2025 annual online market report for Spain (March 2026; secondary)
- e-konomista: Portugal 2025 online revenue (APAJO) (19 March 2026; secondary)
- Gambling.com NL: Kansspelcommissie annual report 2025 (secondary)
- iGB: Hellenic Gaming Commission 2025 report (16 July 2026; secondary)
- GRAI: commencement of remote betting licences (30 June 2026)
- Eduskunta: Administration Committee report HaVM 28/2025 vp (Finland's Gambling Act)
- iGB: EGBA and H2 Gambling Capital European key figures, 2025 edition (25 March 2025; industry estimate)
