Revenues for the online casino sector in Germany are expected to reach €3.3 billion in 2024, continuing the trend of sustained growth.
According to a projection made by research provider Goldmedia for the ‘Germany Betting Focus’ report published by platform provider BtoBet, revenues for online casino in the country will soon comfortably exceed the €2.2 billion registered in 2019.
Estimated revenues for all gambling in Germany for 2019 was €16.3 billion. A total drop in earnings of 12.9% is expected as a result of the coronavirus pandemic, but the overall market is expected to grow to €18.2 billion by 2024.
As you might expect, the report indicates that the closure of land-based gambling businesses has led to an increase in online gambling.
It also provides a breakdown of the country’s sports betting market, for which total turnover hit a peak in 2019 when it reached €9.28 billion, with taxes equating to €464 million.
This total only dipped to €7.79 billion for 2020, despite the disruption of almost all sports events due to the coronavirus pandemic, which BtoBet argued is an “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.”
It is a crucial time for gambling in Germany, as the new Interstate Treaty is set to come into force in July 2021, bringing with it significant legal innovations for online sports betting and online casinos.
Another key finding of the report, which followed a similarly in-depth analysis of the Poland market, was data suggesting that 17% of players would still use operators without a German licence, ‘for the reason of them putting up fewer limitations’.
Meanwhile, for operators looking to deliver a ‘seamless betting experience’ across digital and physical channels, BtoBet highlighted that operators must take an omnichannel approach.
It added that the new legal framework will enable players to access content they have not had before, and enable a retail crossover that hasn’t existed for a few years.
To download the report in full, click HERE.