Virtual Betting Business in Europe: Specifics of the Target Market

The EU is one of the most stable and lucrative regions in the world. That is why capital providers from different parts of the world seek to open their businesses here. Find out how to start an online gambling project in Europe and get the maximum profit. Get to know the specifics of the most promising countries.

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The Strengths of the EU Industry

Why do enterprisers want to open betting start-ups in Europe? This region has several significant advantages:

1. High incomes and a decent standard of living. Most EU countries are characterised by high rates of economic growth. Substantial salaries and high quality of life make the gambling market in Europe stable and up-and-coming.
2. Large selection of gaming content. The largest manufacturers of gambling and betting software in Europe trust local entrepreneurs and offer them their leading developments.
3. The demand for sportsbook projects. Europeans are big betting fans. They actively follow sporting events. The favourite direction of most gamblers is football. In addition, EU citizens prefer tennis, basketball, hockey, volleyball, and other athletic disciplines.
4. Advanced payment infrastructure. Enterprisers planning to buy bookmaker businesses in Europe have access to a huge selection of various payment services: banking tools, electronic systems, virtual wallets, cryptocurrencies, and others.
5. Loyal gambling law in Europe. Many EU countries allow gaming activities. The European Commission is doing everything possible to improve conditions in the entertainment markets in different states.
6. Working with offshore licences. The government of most European countries is quite positive about foreign online projects. The purchase of an offshore permit for entering the gambling market in Europe will let you reduce your costs significantly.

The Most Prospective States

Is gambling legal in Europe’s market? Gaming activities are lawful in many countries.

Let us check out the most promising regions.

Germany

This country is one of the largest EU economies. The state ranks sixth in the world in terms of living standards. The minimum wage here is almost €1,600 ($1,860) per month.

According to the consultancy centre Goldmedia, the revenue of the gambling market in Europe, in particular the German industry, will reach over 18 billion euros (21 billion US dollars) by 2024.

It is noteworthy that about €3.5 billion (approximately $4 billion) will fall on the virtual betting business in Europe.

In addition to sportsbook services, German players prefer:

• online slots;
• poker;
• sweepstakes, etc.

This expert forecast was made based on an analysis of trends in the development of the iGaming market after the end of the COVID-19 pandemic. Besides, the planned changes in German gambling legislation were considered. The new laws will allow all German states to issue permits for opening betting projects in Europe.

It is noticeable that about 17% of German entrepreneurs conduct their business under offshore licences. This tendency will continue to grow in the coming years. Such a work format does not contradict gaming legislation.

The most popular offshore territories are:

• Alderney;
• Curacao;
• Cyprus;
• Malta;
• Antigua and Barbuda, etc.

Poland

This prospective country located in Central Europe is viewed by many investors as an incredibly lucrative market.

The population of the state is about 40 million people. The minimum monthly salary is around €630 (about $730). It is permitted to participate in gambling activities from the age of 18.

The market is developing quite rapidly. Polish laws allow the launch of legal online betting start-ups in Europe.

The most demanded sports in this country are as follows:

• football;
• cycling;
• volleyball;
• skiing;
• rugby;
• water sports.

The local legislation does not prohibit the operation of international betting businesses in Europe. The main condition for legal work is the availability of appropriate licences.

The UK

Great Britain is the centre of the betting business in Europe. It is one of the most influential and lucrative regions in the world. Residents of this wealthy state have always shown a high interest in gambling. At the same time, the British government is doing its utmost to improve the working conditions in this gaming market.

The UK Gambling Commission is the governing body for the entertainment industry. It issues licences for opening betting projects in Europe and monitors the activities of gambling companies. Licensees are required to pay taxes to the state treasury — 15% of their income.

To obtain a British permission document, a candidate must provide the gaming committee with such documents:

1. Enterprise registration certificate.
2. Receipt for payment of the application fee.
3. Financial information, including data on the sources of financing, the business plan of a project, and the forecast of the profitability for the next year.
4. An applicant's contact information.

UK operators are allowed to work in the following fields:

• bookmaker services;
• bingo;
• slot machines;
• lotteries;
• card games.

Lots of entrepreneurs start bookmaker businesses in Europe with offshore permits. The presence of international licences allows operators to provide their services to consumers on more loyal terms.

Italy

A heart of Europe geographically, the country is also known to have among the biggest gambling audiences in the region. The latest data about players’ expenditures showed a peak of $120 billion at the end of 2021. The web-based sector has grown substantially in the last few years due to the convenience of participation and external factors.

The GGR measures also seem impressive ($17 billion in 2021), and a steady rise in the post-pandemic period brings the sphere back following the COVID-19 decline. A substantial portion of this amount was generated by the bookmaker’s niche.

The key aspects of sports betting in Italy:

1. Football is the most demanded discipline to wager on in the country.

2. On average, Italians spend $15 billion on this sport annually, which is at least 5 times more than its nearest competitor, tennis.

3. To launch a bookmaker’s project in the country, it is necessary to obtain a local licence from the authority AAMS.

4. Certified software from Microgaming, Playtech, and BetConstruct is the most widely used on recognised platforms.

Top local bookmakers like GBO, Snaitech, and Sisal leverage national love for football, the latest betting trends, and functional mechanics to generate maximum profit.

France

With a population of 68 million people, the country has a huge betting fanbase within different types of sports. 2022 has brought the record GGR of almost $15 billion. 12% of this sum was contributed by online bookmaker’s entertainment. While football bets became the main source of profit, horse racing performed surprisingly well. $350 million is an inspirational sum for operators to pay attention to.

Top disciplines popular in France:

• football;

• basketball;

• hockey;

• track cycling;

• boxing;

• racing.

With the focus on these sports, operators can build an appealing betting environment under the official licence of Autorité Nationale des Jeux. To maximise the efficiency of the bookmaker’s activity, the latest software support from top certified brands will be highly beneficial.

Popular betting system providers in France:

• Betsafe;

• BetVictor;

• Bet365;

• William Hill;

• Betway;

• 888sport;

• Ladbrokes.

The support of these top-rated content creators will shape the necessary foundation for the interactive environment. Combined with the latest betting trends, appealing odds, and relevant payment means, the platform will earn wide recognition quickly.

Norway

As the country with some of the most solvent gamblers in Europe, this jurisdiction is an excellent destination for operators of sportsbook projects. In 2023, the sector has approached a quarter of a billion of market revenue. The annual growth also continues to rise and is estimated at 4.5% until 2027.

Top betting disciplines popular in Norway:

1. Football. The national team and domestic championship attract a huge audience. In combination with European events, punters get a wide variety to wager on.

2. Ice hockey. As a Nordic jurisdiction, Norway has always been performing well in this discipline. International tournaments and in-state championships create an excellent betting playground.

3. Tennis. The successful performances of national athletes like Casper Ruud massively enhance interest in the sport. Fans are inspired by his strong play and gladly wager on him and other participants.

4. Horse racing. Sweepstakes entertainment is also heavily popular in Norway, despite no in-country tracks. Gamblers still wager on international competitions, and the local trotting association promotes harness events.

5. Other disciplines. Locals gladly watch and bet on the Olympics, World Championships, skiing events, and swimming competitions throughout the year. This is where operators can easily capitalise on popular activities with their legal sportsbook platforms.

Spain

The country is among the few that showcase a very close revenue generation competition between online betting and casino entertainment. The distribution of the GGR for 2023 indicated that 48% of all monetary acquisition was brought by slots and tabletops. Meanwhile, sportsbook activities generated around 43% of the gross revenue.

In 2023, the online betting industry witnessed a colossal 120% boost compared to the previous year. While football remains number one in terms of wagering popularity, it is not as dominant as, for example, in Portugal. Horse racing accounts for almost a quarter of all betting GGR, which is an impressive indicator for all of Europe.

The appeal of the bookmaker’s sphere in Spain is also supported by a clear legal ecosystem:

1. The Dirección General de Ordenación del Juego is the main law-enforcing body in the region.

2. Ley del Juego is the primary legal document that supports the sector and carries all requirements for operators.

3. The stability of the working environment motivates new betting brands to enter the Spanish gambling niche with no legal issues.

4. Standard adherence to responsible practices, certified software integration, and matching payment means will grant successful brand development.

Portugal

The popularity of gambling and betting, in particular, did not go past this country as well. Almost a 25% revenue growth compared to the same period in 2022 was an enormous success for the industry. The total of $210 million over the first quarter of 2022 became an appealing sign for many operators not currently working in the region. The expected sports betting annual revenue of $350 million is something entrepreneurs would be delighted to see at the end of the year.

The total volume of wagers is even more impressive. The first quarter of 2023 showed a whopping $476 million in handle. The local gambling authority SRIJ indicated that the vast majority of this money came from a single sport.

Distribution of popular French betting disciplines (percentage of all wagers):

• football (71%);

• tennis (13%);

• basketball (12%);

• others (4%).

The national football championship is the most popular in terms of betting, with 12% of all wagers. European tournaments are also heavily demanded but account for a smaller revenue volume. With the combined popularity of sports in general and the ability to present punters with the freshest betting possibilities, operators can confidently set up profitable online bookmaker ventures in Portugal.

How to Enter the Gambling Market in Europe Successfully?

To start a lucrative business in the EU. A well-thought-out business plan needs to be drawn up.

A good algorithm of actions should include such points:

Why Should You Purchase a Turnkey Betting Site in Europe?

To achieve success and financial stability in the EU market, it is necessary to organise the process of implementing your online project properly. To get the desired result in the shortest possible time, collaborate with professionals. The purchase of a turnkey betting start-up in Europe is the perfect solution for entrepreneurs who value their time and resources.

The acquisition of a ready-to-launch business will bring you:

• licensing in a prestigious jurisdiction;
• the best sportsbook software;
• technical supervision of your project;
• 24-hour informational assistance;
• help in connecting and customising software.

The Main Things about Europe’s Bookmaker Business

The operation in the EU is the dream of many enterprisers. This region is one of the most profitable and stable markets in the world. The purchase of a turnkey betting site in Europe will bring recognition and financial success to an operator.

Europe’s iGaming industry is characterised by the following specifics:

• high standard of living and decent incomes of players;
• the legal status of online segment;
• the possibility to operate with offshore permits.

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Author Elliot Clark