German Online Casino Industry Anticipate €3.3b in sales in 2024

The online casino industry in Germany is forecast to achieve €3.3 billion in sales in 2024, continuing its upward trajectory.

According to a public analysis project conducted by Goldmedia and cited in BtoBet’s “Germany Betting Focus” article, online casino sales in Germany will soon surpass the €2.2 billion reported in 2019.

In 2019, total gambling receipts in Germany is estimated to be €16.3 billion. The coronavirus pandemic is predicted to trigger a 12.9 percent decrease in sales, but the overall demand is expected to rise to €18.2 billion by 2024.

The study suggests that the closing of land-based gambling establishments has resulted in a spike in online gambling, as one would predict.

It also includes a rundown of the country’s sports betting industry, which saw gross revenue surpass €9.28 billion in 2019, with taxes totaling €464 million.

Resilient market nature

Despite the destruction of nearly all sporting competitions due to the coronavirus pandemic, this figure only fell to €7.79 billion in 2020, according to BtoBet, which is a “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.”

The new Interstate Deal, which will introduce major legal advances for online sports betting and online casinos, is expected to enter into force in July 2021, making this a vital moment for gaming in Germany.

Another main finding of the study, which followed a similar in-depth examination of the Poland market, was that 17 percent of players would continue to use operators without a German licence because they impose fewer restrictions.

Meanwhile, BtoBet urged operators to take an omnichannel approach if they wish to have a “seamless betting experience” through digital and physical platforms.

It goes on to state that the current legal structure would allow players to access previously inaccessible content and create a retail convergence that hasn’t occurred in a few years.