Retail gambling experienced growth in Belgium in 2022
The Gambling Commission of Belgium has recently published a report covering the market’s performance throughout 2022.
One of the first things covered by the regulator’s latest report was the relation between the gross revenue generated by companies operating in the land-based and the online verticals, which showcased that 45% of the sector’s total revenue was generated by the former. This represented a sizable increase for retail gambling venues, as in the preceding year, only 34% of the industry’s total revenue was generated by them.
In terms of the market’s figures, Belgian gambling companies generated a total revenue of 1.46 billion euros in the year, which represented an increase of just under 24% year-over-year. Online gambling operators generated 800 million euros, which represented a growth of just under 2.6%, while retail businesses generated 658 million euros and experienced a year-over-year growth rate of over 65%.
The report highlighted that this increase in the land-based vertical was also reflected in the figures of sports wagering operators, with the niche’s year-over-year revenue growth reaching 15.1% in the year. Online betting companies, on the other hand, experienced an over 2% year-on-year decline in revenue, however, they generated 210 million euros throughout the year, which is quite a bit higher than the retail vertical’s revenue of just under 150 million euros. In total, betting operators in Belgium generated 360 million euros in 2022, recording a 4% revenue increase for the niche.