Gamlinked – Everything that has happened in March 2025
March has been anything but quiet in the iGaming world. If you work in the industry or just like keeping tabs on the latest, you’ll want to hear this.
At Gamlinked, we track industry trends, policy shifts, and corporate moves to keep you informed. This month, the Netherlands is cracking down on unlicensed operators, Spain’s gambling market is hitting new highs, and Austria might introduce major tax changes. Meanwhile, Sweden and Ontario are dealing with their own regulatory battles.
Want to stay ahead of the game? Let’s explore the top online casino news for March 2025.
Dutch Gambling regulator investigates illegal gambling
The Dutch gambling regulator, Kansspelautoriteit (KSA), is tightening its grip on illegal gambling ads, and this time, it’s not just online platforms under scrutiny. Traditional print media (yes, magazines and newspapers) have found themselves in hot water for running promotions linked to unlicensed gambling operators. It’s a bold move, but hardly surprising.
The Netherlands has some of the strictest gambling regulations in Europe, and licensed operators, including minimum deposit casinos, are expected to follow every rule to the letter; ad restrictions, responsible gaming measures, the works. Meanwhile, offshore casinos have been bypassing these restrictions by sneaking their ads into Dutch publications. The result is players being lured into platforms that aren’t regulated, don’t offer consumer protections, and, in some cases, refuse to pay out winnings fairly.
One case making waves at the moment involves Lalabet, an unlicensed gambling platform that’s now facing legal action from the Dutch Lottery. According to reports, Lalabet has been running unauthorized gambling services in the Netherlands, pulling in players without the proper licensing.
However, the implications of this case go beyond just one operator. If the Dutch Lottery succeeds, this could pave the way for even stricter enforcement. The KSA has already hinted at increasing financial penalties, and there’s growing pressure to introduce harsher casino regulation measures, possibly including ISP blocks on unlicensed sites.
Spanish Gambling hits record high in 2024
It’s official. Spain’s online gambling industry just had its best year ever. The numbers for 2024 are in, and they tell a story of rapid growth, massive spending, and more players than ever getting involved. The €1.45 billion in Gross Gaming Revenue (GGR) marks a 17.6% increase from the previous year. Here’s a quick breakdown:
Casino games
Casino games lead the pack, pulling in €730.7 million in revenue with slots accounting for €472.2 million (up 22.8%). Meanwhile, live roulette contributed €208.8 million, showing that more players are looking for fast, interactive experiences.
Sports betting
The sports betting segment saw a 23.8% jump in revenue, bringing in €608.9 million. The competition between live betting (€285.1 million) and pre-match betting (€284.7 million) is tight, which suggests that real-time, in-play betting is just as appealing as pre-game wagers.
Deposits and withdrawals
With so much action in the gambling space, it’s no surprise that financial transactions have hit new highs. Deposits reached €4.58 billion, up 19.6%, while withdrawals grew 19.7% to €3.15 billion.
Operators spending big to attract players
It wasn’t just players making moves. Operators, too, went all-in on advertising and promotions. €526.3 million was spent on marketing in 2024, marking a 30.4% increase. A huge chunk of that, €261.5 million, was spent on bonuses alone. This aggressive spending came after a regulatory change in April 2024, which loosened some of the restrictions on gambling advertisements.
More players entering the market
The result of all that marketing is that more people are gambling online than ever before. The number of active players rose 21.7%, while total active accounts hit 3.8 million. On average, 151,898 new accounts were registered per month, a 34.7% increase compared to the previous year.
Not everything was a win, though
Online poker took a hit, with revenue dropping 4.99% to €100.1 million. Cash poker saw an 8.97% decline, and even tournament poker, usually the stronger segment, fell 3.48%.
What’s next?
With record-breaking revenues, a growing player base, and operators pushing hard to attract new customers, Spain’s online gambling industry is in a prime position to keep thriving. The question now is whether the market can sustain this momentum or if we’ll start seeing some growing pains. Either way, 2024 set a new standard, and it’ll be interesting to see how the industry evolves from here.
New Zealand’s Casino license Auction update
For decades, New Zealand’s gambling industry has been tightly regulated, with limited operators and strict rules on who can offer services. Now, with the government putting 15 online casino licenses up for auction, the industry is on the brink of a major transformation. The goal is to bring online gambling under regulatory control, but there are already concerns that this move could end up benefiting offshore corporations more than New Zealand itself.
Who stands to gain the most?
On paper, these regulatory changes regarding opening up the market sound like a smart move. The industry has been growing, whether the government likes it or not, with Kiwis already spending millions on offshore platforms. By issuing licenses, the government can at least ensure these operators follow some local rules. But the big question is: who will actually win these licenses?
SkyCity and the TAB, two of the biggest domestic operators, have been raising alarms about how this process is unfolding. They’re worried that most of these licenses will go to foreign companies with no real ties to New Zealand.
SkyCity even suggested limiting the number of licenses to five and making sure they go to companies that actually operate in New Zealand. The reasoning behind it is that without those restrictions, profits from online gambling will likely flow straight out of New Zealand, leaving little behind for local businesses and community funding.
The TAB is especially concerned because it currently contributes a significant portion of its earnings to local sports and racing events. Under the new system, there’s no requirement for online license holders to do the same. That means less money for local teams, horse racing, and community programs that rely on gambling revenue.
The power of big corporations
Money talks, and in the gambling industry, it shouts. International giants have the financial muscle to dominate this new market from the start. Companies like The Lottery Corporation from Australia have already shown interest, and if they get involved, they’ll likely outspend local operators in both licensing bids and marketing campaigns. That’s a huge problem for smaller, homegrown brands that simply don’t have the budget to compete.
So, what happens next?
New Zealand’s Minister Brooke van Velden and the Department of Internal Affairs insist that regulations will be in place to prevent exploitation. They claim that any operator failing to follow the rules will have their license revoked. But enforcement is easier said than done, especially when dealing with massive global companies that know how to work around regulations.
There’s also concern about how this will affect traditional gambling institutions. Currently, Lotto and land-based casinos contribute part of their revenue to community programs. But these new online casinos won’t have the same obligations, meaning community funding could take a hit while offshore companies pocket more profits.
The next few months are going to be crucial. The decisions made now will determine whether New Zealand creates a fair and balanced online gambling market, or just hands it over to the highest bidder.
Swedish State of Gambling
Sweden’s gambling industry is in a tight spot. On one hand, online gambling is bringing in record profits. On the other hand, the government is cracking down with tougher rules, land-based casinos are circling the drain, and illegal gambling is creeping into the picture. There’s a lot happening, so let’s unpack it.
Online gambling keeps winning
It’s no secret; Swedes love online gambling. The numbers back it up: total industry revenue hit SEK27.8 billion in 2024, a 3% rise from the previous year. Most of that growth came from online gaming, which brought in SEK4.6 billion in Q4 alone, up 6% from 2023. Sports betting, poker, and online slots continue to dominate, and honestly, it’s hard to see this slowing down anytime soon.
Casino Cosmopol is in freefall
While online platforms are thriving, Sweden’s only land-based casino chain, Casino Cosmopol, is tanking. Revenue fell from SEK92 million in late 2023 to just SEK31 million in Q4 2024. That’s a brutal decline, and it raises the question: Does Sweden even need physical casinos anymore?
With online platforms offering better bonuses, convenience, and way more game variety, the days of brick-and-mortar gambling in Sweden might be numbered.
More regulations are coming
Sweden’s government isn’t thrilled with how things are going. Lawmakers have been reviewing the Gambling Act, and stricter regulations are on the horizon. The idea is to clamp down on problem gambling and keep the industry in check. It’s a noble goal, but let’s be honest, every time regulations get tighter, unlicensed operators get a little more appealing to frustrated players. And that’s exactly what’s happening.
Right now, unlicensed online gambling is on the rise. More Swedes are bypassing local regulations and playing on offshore sites that don’t follow Swedish laws. That means no self-exclusion options, no spending limits, and, in some cases, no real consumer protections. The government can crack down all it wants, but unless it makes the legal market more attractive, people will just find ways around the rules.
Svenska Spel has a new CFO
Meanwhile, over at Svenska Spel, there’s a leadership shake-up. The country’s state-owned gambling giant, Svenska Spel, has brought in a new CFO, Amni Radwan, to help steer the ship, but the company is facing increasing pressure. It needs to compete with private operators who offer better deals, more games, and fewer restrictions. That’s not an easy fight to win, and it’ll be interesting to see how Svenska Spel adapts.
Decline in the Ontario iGaming Market
When Ontario first launched its regulated iGaming market, the expectation was that it would be a model for the rest of Canada. And in some ways, it has been.
But February 2025 sent up some warning signals that even the most well-structured markets can hit a rough patch. A 15% revenue drop is quite noteworthy, and while it’s not the end of the world, it’s a sign that Ontario’s iGaming operators aren’t coasting as smoothly as they hoped.
According to EGR Global, February’s total iGaming revenue clocked in at CA$280.1 million, down from CA$328 million in January. That’s a CA$48 million dip in a single month. But what’s really eyebrow-raising is the breakdown:
Sports betting got hammered the worst
Revenue dropped by a staggering 33%, falling from CA$91.9 million in January to CA$61.5 million in February. And this was despite the Super Bowl, an event that should have been a goldmine for sportsbooks. If a global event like that can’t boost numbers, it means people are either getting pickier about where they bet or are simply losing interest.
Online casino revenue took a hit, too, but not as bad
Down 7% from CA$230 million in January to CA$214 million in February. This segment still accounted for 76% of total market revenue, proving that casino games remain the backbone of Ontario’s iGaming sector.
So, what’s going on? First, this isn’t just a random cold streak. There are a few clear factors that likely played into this downturn:
Too many operators, not enough players
Ontario’s market is crowded. Over 50 licensed operators running a combined 80+ sites are fighting for the same pool of gamblers. This kind of oversaturation forces aggressive promotions and bonus schemes that aren’t sustainable. Eventually, the margins shrink, and even the bigger players start feeling the squeeze.
Regulation squeeze
Ontario has some of the strictest advertising regulations in North America. Operators can’t just throw out flashy ads and insane bonuses like they do in other parts of the world. The government’s tighter grip is great for responsible gaming, but it’s also making it harder for companies to attract and retain users.
Betting fatigue?
It’s possible we’re seeing a natural cooling-off period. The initial hype of Ontario’s regulated iGaming market might be wearing off. People might be gambling less, or shifting to alternatives like crypto casinos or offshore sites that aren’t under Ontario’s jurisdiction.
What’s next?
We’ll be keeping a close eye on this industry. Meanwhile, if this downward trend continues, Ontario regulators and operators will have to rethink their approach. Whether that means relaxing some restrictions, allowing bigger promotions, or adjusting tax structures remains to be seen.
Tax increases on the Horizon for Austria
Austria’s gambling industry is stuck in a loop. Every few years, there’s talk of higher taxes, casino closures, and the ever-present issue of market control. Now, with a new set of tax hikes on the horizon, it’s clear that the industry is heading for another round of disruption. Let’s take a look at what’s happening:
Higher taxes, fewer casinos, more problems
The Austrian government has its sights set on tax increases, and if everything goes as planned, betting taxes will jump from 2% to 5% in 2025. And that’s not the end of it. There’s an additional 10% tax hike in the works, which is projected to rake in around €129 million by 2026. Sounds great if you’re looking at the government’s budget, but for smaller casinos, it’s a death sentence.
Erwin van Lambaart, CEO of Casinos Austria, has already warned that as many as five locations, mostly outside Vienna, might have to shut down. Places like Seefeld and Zell am See could be on the chopping block, and with them, hundreds of jobs.
It’s really a classic case of short-term thinking. Raising taxes might bring in more revenue initially, but if it wipes out a chunk of the industry in the process, what’s the long game?
The monopoly no one wants to talk about
While the tax hikes are stealing the headlines, there’s a bigger conversation Austria isn’t having: why does Casinos Austria still have a stranglehold on the market? Unlike other European countries that have opened up their gambling industries to multiple operators, Austria has kept things locked down under a monopoly system.
The European Gaming and Betting Association (EGBA) has been calling for reform, arguing that a multi-license system would be better for both consumers and the government. And they have a point. More competition means better oversight, better options for players, and potentially up to €1 billion in extra tax revenue by 2030.
Right now, Austrian players looking for alternatives are turning to offshore casinos. That means money is leaving the country instead of going into the economy. If Austria keeps this up, it won’t just be small casinos disappearing; it’ll be the entire legal gambling sector struggling to keep up.
Austria now has two choices:
Keep raising taxes while protecting the monopoly. This will keep Casinos Austria happy in the short term, but it’ll crush small operators and push players toward unlicensed sites.
Open up the market. Introduce competition, regulate online gambling properly, and let the industry breathe. The government still gets its tax revenue, and the market actually grows instead of shrinking.
It’s not a tough call. If Austria wants a thriving gambling industry, it needs to rethink its outdated approach before it’s too late.
Closing Remark
March 2025 was another reminder that gambling is a constantly moving industry. Some markets are expanding, like Spain’s record-breaking online sector, while others, like Ontario, are seeing unexpected dips. Meanwhile, regulators are flexing their authority; Sweden is struggling with unlicensed sites, the Dutch are cracking down on illegal gambling ads, and Austria’s looming tax increases could throw a wrench into the country’s casino landscape.
This is what makes the industry so unpredictable. One month, a market is booming; the next, it’s dealing with new restrictions, economic shifts, or corporate power plays. The smartest operators will be the ones who adapt quickly, because standing still in this business isn’t an option. As we head into April, the only guarantee is that more shake-ups are coming. Stay tuned.
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