German iGaming revenue to surpass €3.3bn in 2024

German iGaming revenue to surpass €3.3bn in 2024

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Category: Blog, Industry News
Posted by: AffPapa
Germany

iGaming revenue in Germany is expected to surpass €3.3 billion in 2024, which will be maintaining the growth that the country has been seeing for a while now.

Goldmedia’s public study revealed that the revenues from online casino in Germany will be surpassing the €2.2 billion that had been seen in 2019. This information was also referenced in a report published by BtoBet.

In 2019, Germany estimated revenues from all forms of gambling to amount to €16.3 billion. Of course, due to the COVID-19 pandemic, there will be a significant decrease in the expected revenue. Currently, that amount is estimated at approximately 12.9%. However, the market is still expected to grow up to €18.2 billion in total by 2024.

As should be expected by now, the report also states that the shutting down of land-based betting shops and casinos has caused an increase in the amount of people turning to iGaming and online gambling. The report also provides details about Germany’s sports betting scene, in which the total turnover amounted to a high of €9.28 billion, and taxes came to €464 million.

This total did not go down much in 2020, as it hit €7.79 billion, even though most of the spots events got cancelled as the COVID-19 pandemic hit.

BtoBet has said:

“This is an indication of the resilient nature of the market and the tendency for German players to engage themselves more broadly on the sports betting portfolio, rather than limiting themselves to live events.”

This is an incredibly important time for the gambling scene in the country as the brand new Interstate Treaty will be coming into effect this July, which will bring along some new improvements when it comes to legal advancements in the online sports betting and online gambling industries.