For decades, sports betting was a shadow casino extension. For many years, slot machines and table games were thought to be the only ways to have a true casino experience. However, developments in the gambling industry have altered the status quo. The main driving force behind the flip are, the relatively new, digital betting options. Sports betting is at an all-time high and shows no signs of slowing down in the near future. People’s interest in sports betting is growing all over the world. Legalization in key markets, increased smartphone use, and increased internet affordability all fuel the global appetite for online sports betting.
However, the proclivity varies across populations. European countries rank among the sports betting hotspots, considering their sky-high gross gambling revenue (GGR). Their perspectives differ due to differences in the legislation and frameworks used. Sports betting is currently available in the following European countries:
Italy
In Italy all gambling activities have been criminalized with the exception of lotteries, sports betting, and gaming activities whose outcome is contingent on skill rather than luck. Although restricted, online gambling is much more liberal in comparison. All gambling activities are institutionalized under the criminal code, and sportsbook operators must obtain a state-issued license to operate legally. Italy’s gambling market is strictly regulated. It requires bettors to stay on government-approved platforms. However, as evidenced by the increase in overall online gross gaming revenue (GGR), sports betting is rapidly gaining popularity in the country. Soccer betting is especially popular among Italians.
France
In 2010, France legalized the majority of online gambling. The French government regulates the gambling industry through various bodies. The agency in charge of regulation depends on the type of activity in question. The country’s online sports betting is regulated by the L’Autorite Nationale des Jeux (ARJEL). Responsible gambling is a major concern for the regulator. The body provides awareness training to a variety of vulnerable groups, particularly children aged 10 to 14. The gambling market in France has been steadily expanding, particularly since the COVID-19 pandemic. In 2021, the total value of bets reached around 8 million euros. Football took the lead with nearly five billion euros.
The United Kingdom
In the United Kingdom, no laws prohibit online gambling. The United Kingdom Gambling Commission (UKGC) does oversee and regulate online gambling activities in the UK. The government mandates the executive governmental body to issue gambling licenses to physical and online casinos. The body is also expected to penalize casinos and sportsbooks for noncompliance. Businesses that are found to be in violation of the established framework face sanctions.
The legality of sports betting facilitates its spread among eager gamblers in the United Kingdom. Sports betting in the country is at an all-time high, and it is expected to rise further as the number of online gambling companies grows.
Spain
Sports betting is legal in Spain as long as it is done on licensed platforms. Horse racing, pool betting, fixed-odds sports betting, and sports betting exchanges are all licensed by the Spanish National Gaming Commission. Spain’s online sports betting market is similar to that of the majority of other European countries. The legal online gambling age in the country is still 18 years old, and the market is rapidly expanding. However, some distinguishing characteristics set Spain apart. For example, the government requires all gambling establishments to have a ‘.es’ domain. Furthermore, the country upholds higher safety standards. Operators redirect to their Spanish websites whenever a visitor opens the site, allowing potential punters to learn the legality of operations for each brand.
Germany
Germany, like Spain, has local and state gambling regulatory frameworks. The country’s laws allow for the operation of online sportsbooks and casinos. Germany’s gambling industry, like that of most other countries, has a long history. Its current state is the result of the Interstate Gambling Treaty, which authorized states to issue online betting licenses to 20 sportsbooks. However, following a review by the European Union’s Court of Justice in 2016, the legislation was repealed everywhere except in Schleswig Holstein. Regardless of the changes, Germans continue to enjoy fully legal online sports betting.
Finland
Sports betting is legal in Finland. However, wagering is restricted to the regulations of the authorized government monopolies. The monopolies permitted to regulate sports betting are Veikkaus Oy, Fintoto Oy, and Penningautomatförening (PAF). Despite being required to limit wagering to government-authorized platforms, Finland’s constitution allows Finns to gamble on offshore sites. Ice hockey, football, boxing, and equestrian sports are popular among Finnish online gamblers.
Final Thoughts
In Europe, the Golden Age of online gambling is at its peak. Over the last decade, online sports betting has become more convenient for gamblers while also improving business for betting companies. The future looks bright for the continent’s online sports betting stakeholders.
