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Growth Of Belgian Gambling Revenue

In 2023, Belgium's gambling industry experienced significant growth, as highlighted by the latest report from the Commission des Jeux de Hasard, the country's gambling regulator. The gross gaming revenue for the year reached an impressive €1.7 billion, marking a 16.7% increase from the previous year. This robust growth was evident across both online and offline sectors despite the introduction of more stringent regulations.
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Belgium revenue

Christian McDeen | Caesar of Lands of Betting and Live Casino

Updated: Aug 13, 2024

Growth Of Belgian Gambling Revenue

Belgium Gambling CommissionThe Belgian gambling industry reported substantial growth in 2023, as detailed in the recent report from the Commission des Jeux de Hasard (CJH), Belgium's gambling regulatory authority. Gross gaming revenue (GGR) reached €1.7 billion, reflecting a 16.7% increase from the previous year. This growth, observed across both online and offline sectors, occurred despite introducing more restrictive regulations aimed at curbing excessive gambling. A closer examination of these trends offers insights into the dynamics of the gambling industry in Belgium and the potential implications for the broader online casino market.

Belgium IconThe division between online and offline gambling sectors reveals interesting trends. Online GGR grew by 18%, reaching €944.6 million, suggesting that digital gambling platforms are increasingly becoming the preferred choice for Belgian players. This shift toward online platforms is in line with global trends, where convenience, accessibility, and the variety of games available online are key factors driving growth.

In contrast, while still significant, the offline gambling sector saw a slightly lower growth rate of 15.2%, bringing in €758 million. Despite the rise of online platforms, traditional land-based gambling venues remain relevant, possibly due to the experiential aspect they offer, which online platforms cannot replicate.

The casino segment played a crucial role in the overall increase in GGR. The segment saw an 18.7% rise in revenue, totaling €594.9 million. This growth was primarily driven by online casinos, where GGR increased by 20.2% to €455 million. The rise in online casino revenue is indicative of the broader shift towards digital gambling, influenced by factors such as convenience, technological advancements, and the wider array of options available to players.

Growth IconAlthough contributing less to the overall GGR, land-based casinos also experienced growth. The nine licensed casinos in Belgium generated €139.9 million, marking a 14.3% increase. Casinos Austria International's Grand Casino Brussels led the segment with a GGR of €52.5 million, followed by Circus Casino Resort Namur at €22.5 million. This growth suggests that while online platforms are gaining ground, land-based casinos still attract a significant player base. However, Kindred's Casino Blankenberge was an outlier, recording a decline in revenue, which raises questions about the factors contributing to its underperformance in a generally upward-trending market.

Slot arcades also experienced positive growth, with their GGR increasing by 17.3% to €437 million. This segment is interesting because it straddles both online and offline worlds. Online operations accounted for 57.7% of the segment's revenue, with GGR up 19.4% to €252 million. This indicates a robust appetite for online slot games, which are likely favored for their accessibility and diverse games. Offline slot arcade revenue also rose, albeit at a slower rate of 14.5%, reaching €184.9 million. The continued growth in offline slot arcades suggests a persistent demand for traditional gaming experiences, though it may be waning in comparison to the more dynamic online market.

sports bettingThe sports betting sector presented a different growth pattern. While it grew, the rate was more modest compared to casinos and slot arcades. The sector's GGR increased by 8.4%, reaching €390 million. Online sports betting was a key driver, with GGR up by 12.8% to €237.6 million. Betting shops, however, saw a much slower growth rate of 2.3%, with GGR at €152.4 million. This disparity between online and offline betting reflects the broader trend of digital migration, as more bettors shift to online platforms for their convenience and real-time access to betting markets.

The report also highlighted that ten of the 24 licensed operators dominated offline sports betting, accounting for 96% of all bets, indicating a highly concentrated market. Football remained the most popular sport for betting, constituting 77.1% of all sports betting GGR, which aligns with global betting patterns where football commands a large market share.

moneyThe growth in Belgium's gambling industry in 2023 is particularly noteworthy given the increased regulatory pressures introduced during the year. These included a nationwide ban on gambling advertising implemented in July 2023 and the imposition of a lower weekly loss limit, capped at €200. These measures were intended to reduce gambling-related harm, particularly among vulnerable populations. Despite these restrictions, the overall growth in GGR suggests that the industry has managed to adapt, possibly through more effective targeting of existing customers or an increase in the volume of lower-stakes gambling activity.

However, the impact of these regulations was more pronounced in specific areas. For example, newsagents, which have traditionally been a key channel for betting, saw their GGR fall by 26.3% due to restrictions on betting hours. The number of active newsagent licensees also dropped, from 1,580 to 1,484, as 82 license holders chose not to renew, and 151 ceased operations. This decline could signal a shrinking market for smaller operators, who may be less equipped to cope with the regulatory burden than larger, more diversified gambling businesses.

gambling-ageThe regulatory landscape in Belgium is set to tighten further with the planned increase in the minimum legal gambling age from 18 to 21, effective September 1, 2024. This change could reduce the player base, particularly in the younger demographic, and may lead to a short-term dip in revenues. However, it could also encourage a more mature and perhaps more sustainable gambling market in the long term, as older players are generally more financially stable and may engage in more responsible gambling practices.

The developments in Belgium offer critical insights for the online casino industry at large. Despite tighter regulations, the steady growth in online gambling revenue suggests a resilient market with a strong and loyal customer base. This resilience could be attributed to the adaptability of online platforms, which can quickly implement changes to comply with new regulations while continuing to offer attractive gaming experiences.

Gambling Age LawBelgium's experience highlights the importance of regulatory compliance as a key factor in sustaining growth. As governments worldwide observe and emulate Belgium's approach, online casino operators will need to remain agile, ensuring they can navigate increasingly complex regulatory environments. This might involve investing in compliance technologies, enhancing player protection measures, and developing new marketing strategies that align with regulatory standards while continuing to attract and retain players.

Belgium's gambling industry in 2023 exemplifies the balancing act between growth and regulation. The industry's ability to expand in the face of new restrictions underscores its resilience but also points to the challenges that lie ahead as the regulatory environment continues to evolve. For online casino operators, the Belgian case serves as both a cautionary tale and a source of strategic insights for managing growth in a regulated market.

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