Belgium’s Gambling Market Declines for First Time Since Pandemic Amid Regulatory Tightening

Belgium’s regulated gambling sector recorded its first annual contraction since the onset of the COVID-19 pandemic, as newly released figures for 2024 reveal a notable downturn across the market.

Data published on Tuesday by the national regulator shows that total gross gaming revenue (GGR) fell to €1.61 billion, representing a 4.86% decrease from the €1.69 billion reported in 2023.

The decline was largely attributed to a sharp reduction in land-based gambling activity, even as online gambling—still the dominant segment—experienced only a modest dip. Of the €1.61 billion total, online channels generated €919.10 million, accounting for 57.1% of the market, though this figure marked a 2.7% year-on-year decrease. Meanwhile, land-based gambling contributed €690.41 million, or 42.9% of total GGR, reflecting a steeper drop of 7.59%.

Breaking down the licensed sector, the regulator identified four primary categories: casino operations, arcade licences, low-stakes gaming, and betting operators. The casino segment proved to be a relative bright spot, with GGR rising 7.32% to €638.45 million. Notably, online casinos were responsible for approximately three-quarters of that total.

In contrast, arcade licences experienced a significant contraction, with revenue declining by 11.95% to €384.75 million. This drop was driven in large part by a 23.8% fall in online activity within the segment, even as offline revenues posted a modest increase of 4.24%.

Low-stakes gaming saw one of the sharpest declines, with GGR falling 21.71% to €222 million. Similarly, bingo activities in cafés recorded a substantial decrease of 24.7%, underscoring broader weakness in smaller-scale, land-based offerings.

Sports betting also moved downward, with total GGR slipping 6.59% to €364.3 million. Offline betting was particularly affected, declining by 13.58%, while online betting proved more resilient, registering a comparatively minor decrease of 2.11%.

Despite the overall downturn, online gambling maintained its dominant position, continuing a trend that accelerated during the pandemic years, with digital channels consistently generating more than half of total market revenue. The casino segment, in particular, demonstrated growth across both channels, with offline revenues increasing by 3.7% and online revenues climbing by 8.7%.

However, offline betting operations faced severe challenges. Betting shops and physical outlets reported a 17.9% year-on-year decline in GGR, a drop partly linked to a significant reduction in the number of licensed betting shops—from 535 to 408 over a two-year period.

Retail outlets also reported slight decreases in sales, while online betting remained relatively stable by comparison.

Within the betting category, sports betting itself showed some resilience, with GGR increasing by 4%. In contrast, other betting verticals experienced sharp contractions, as horse racing revenues fell by 32.8% and other forms of betting declined by 44.7%.

Regulatory changes introduced since 2023 were cited by the Belgian gambling authority as a major factor behind the market’s weakened performance. Among the most impactful measures was the implementation of a cumulative-site ban, which prevents operators from offering products tied to multiple licence types on a single platform. This policy disproportionately affected arcade licence holders, prompting some operators to consolidate offerings under casino or betting licences and thereby shifting revenue between categories.

Additional reforms included raising the minimum legal gambling age from 18 to 21, imposing a ban on bonuses, tightening advertising regulations, and enforcing stricter identity verification measures such as ID and EPIS checks. Advertising restrictions, in particular, have come under scrutiny, highlighted by recent investigations involving high-profile promotional campaigns linked to Eden Hazard.

While these regulatory adjustments were introduced to enhance responsible gambling practices, they have also contributed to slowing market growth. The regulator noted that it remains unclear whether the measures have effectively improved player protection outcomes.

The 2024 figures mark the first overall contraction in Belgium’s gambling market since 2020. Between 2020 and 2023, online GGR experienced strong expansion, growing by approximately 60% cumulatively, including an 18% increase in 2023 alone.

Looking ahead, the regulator emphasised the urgent need for further research to determine whether players are migrating toward unregulated gambling channels in response to tighter controls. It also acknowledged that the 2024 report was subject to delays and summarised data, citing changes in financial reporting processes and staffing shortages within the financial control unit as contributing factors.

Authorities indicated that improvements are expected going forward, with the release of the 2025 market figures anticipated to proceed on schedule.

By fLEXI tEAM