Belgian Gambling Market Sees First Downturn Since Pandemic

After a period of strong growth following the Covid-19 pandemic, Belgium’s regulated gambling sector experienced a slowdown in 2024. Latest figures reveal that total Gross Gaming Revenue (GGR) dropped to €1.61 billion, a decrease of 4.86% from the €1.69 billion recorded in 2023. This marks the first full-year decline since 2020, impacting both online and physical gambling channels.

Online Gambling Still Dominates, But Sees a Dip

Online gambling remains the largest segment, bringing in €919.10 million, which accounts for 57.1% of the total GGR. However, this sector also saw a year-on-year decrease of 2.7%.

Physical Casinos Face Bigger Challenges

Land-based gambling experienced a more significant drop, with revenue from physical venues falling by 7.59% to €690.41 million. Betting shops and traditional casinos were particularly affected, with revenue from offline betting down by 13.58% and betting shop income decreasing by nearly 18%. This also corresponds with a notable reduction in the number of licensed betting shops, dropping from 535 to 408 over two years.

Mixed Results Across Different Gambling Types

Interestingly, casino operations themselves saw growth, with GGR increasing by 7.32% to €638.45 million. Online casino platforms made up about three-quarters of this segment, with both online and land-based casino revenue showing increases. However, other areas faced sharper declines. Arcade licences fell by 11.95% to €384.75 million, with online activity in this category dropping by over 23%. Low-stakes gaming revenue decreased by 21.71% to €222 million, and café-based bingo saw a 24.7% reduction. Sports betting also contracted, with total GGR falling 6.59% to €364.3 million, primarily due to a slump in offline channels.

Regulatory Changes Impacting the Market

This revenue decline coincides with new regulations introduced since 2023. These changes include:

A higher minimum gambling age of 21 across all sectors.
Restrictions on bonuses and promotional offers.
Stricter advertising rules.
Operators are now required to separate products by license type.

These adjustments have reshaped the legal market, with some operators shifting their offerings between license categories. Advertising restrictions, including bans on various promotions, have significantly reduced the visibility of licensed operators.

Shift Towards Unregulated Platforms a Growing Concern

While these policies aim to protect players, industry data suggests they may have also contributed to a reduction in overall activity within the regulated system. There are growing concerns that players are moving towards unregulated platforms, particularly after tighter advertising rules were implemented. Reports indicate a rise in online players using illegal sites, with higher deposit levels on these offshore platforms. Unlicensed operators now hold a significant share of traffic on popular gambling websites. This shift poses a challenge for oversight, as these platforms operate outside of national controls and do not enforce local safeguards like age verification or self-exclusion systems. Younger players, especially males aged 18-21, are reported to be particularly exposed to these unregulated sites.

Ongoing Challenges and Future Outlook

Authorities are taking steps to block unauthorised websites, but the long-term impact of these measures is still being assessed. Licensed operators also face additional hurdles, with some financial institutions limiting services to gambling businesses due to compliance and policy considerations. Regulators have noted that the available data for 2024 is still incomplete due to reporting delays. Updated figures for 2025 are expected to provide a clearer picture of whether this current trend continues.