According to new data published by the European Gaming and Betting Association (EGBA) and H2 Gambling Capital, Europe’s total gross gaming revenue (GGR) will drop 23% this year.
EGBA suggests GGR will drop from €98.6bn ($120.44bn) for 2019 to €75.9bn for 2020.
The data does, however, forecast Europe’s online gambling revenue to increase 7% year-on-year, to €26.3bn.
The increase is predicted despite a significant drop in Q2 online revenue due to the cancellation of major European sporting events amid the ongoing coronavirus pandemic.
But a land-based decline is expected, with the data forecasting a 33% drop to €49.6bn, primarily due to the closure of venues because of COVID-19.
The data also looked ahead to the near future, suggesting that Europe’s online gambling market will reach 33.6% of the continent’s total gambling revenue by 2025.
EGBA added that mobile betting is expected to account for 45.6% of Europe’s online gambling revenue for 2020, increasing to 50.8% in 2022 and 58.2% in 2025.
“We commend our members’ efforts in support of safer gambling and their significant investments in European sports,” said EGBA secretary general Maarten Haijer.
“Like many other sectors, Europe’s gambling sector has taken a hit from COVID-19 this year but the growth trend of online continues to be strong.
“There is also still lots of room for growth in markets like France, Germany, Italy, and Spain, where the online penetration of the total gambling market is still relatively low compared to other European countries.”