The Belgian Gaming Commission has published its latest financial report, revealing that in 2024, total industry gross gaming revenue (GGR) amounted to €1.60bn ($1.86bn), a 4.86% year-on-year decline.
Yes, you are reading this correctly, these 2024 figures represent the most recent data released by the regulator.
In previous years, the private gambling sector had grown steadily, except in 2020 due to the impact of the Covid crisis.
Online gambling GGR totalled €919.1m in 2024, down 2.70% year-on-year. This decline is notable given that online gambling had increased by 60% between 2020 and 2023 and by 18% in 2023 alone.
Within the online segment, slot games recorded the steepest decline, with GGR falling 23.83% year-on-year to €191.96m. Online casino games GGR rose by 8.70% to €494.5m, while online betting GGR declined by 2.11% to €232.5m.
Total land-based GGR amounted to €690.4m in 2024, a 7.59% year-on-year decrease. Among land-based operators, the betting sector was most affected. GGR from newspaper agents, betting shops and hippodromes fell by 13.58% to €131.7m.
In contrast, land-based casinos recorded growth of 3.68% to €143.9m, while gaming halls, which operate slot machines and similar games of chance, saw GGR rise by 4.24% to €192.8m.
Another regulator talking about the unlicensed market?
The regulator notes that recent regulatory changes have had a clear impact on the activities of licensed operators. These measures include raising the minimum age for participation in games of chance and betting from 18 to 21. They also include the restrictions on bonuses and stricter advertising.
At the same time, it cannot be ruled out that some players who remain with licensed operators have only slightly adjusted their behaviour, while others may have been drawn towards the illegal market. The unlicensed market is becoming increasingly visible, accessible and appealing to some players but offers no consumer protection.
The regulator stresses that a thorough investigation should be conducted as soon as possible to confirm or rule out these concerns, so that appropriate policy measures can be considered or adjusted.
In the report, the regulator noted that the number of active players and new players in online gambling had stagnated or even declined slightly
