Belgium's licensed gambling operators posted a total gross gaming revenue of €1.61 billion in 2024, a 4.86% drop from the previous year and the sector's first full-year contraction since the Covid-19 pandemic began. New data from the Belgian gambling regulator, released on Tuesday, highlights a sharp fall in land-based activities despite relative stability online. This reversal challenges assumptions about the market's post-pandemic momentum and raises questions about the balance between player protection and economic viability.
Revenue Breakdown Reveals Uneven Pressures
Online gambling, which generated €919.10 million or 57.1% of total revenue, dipped 2.7% year-on-year, maintaining its dominance after accelerating during the pandemic. Land-based operations fared worse at €690.41 million, down 7.59%, underscoring vulnerabilities in physical venues. Casinos bucked the trend with a 7.32% rise to €638.45 million, where online channels contributed three-quarters; offline casino revenue grew 3.7% and online 8.7%.
Arcade licences saw an 11.95% decline to €384.75 million, marked by a 23.8% plunge in online activity offset partially by 4.24% offline growth. Low-stakes gaming tumbled 21.71% to €222 million, with café bingo down 24.7%. Betting revenue fell 6.59% to €364.3 million, as offline outlets dropped 13.58% and online eased 2.11%; licences for betting shops shrank from 535 to 408 over two years, contributing to a 17.9% offline decline.
Regulatory Measures Drive the Downturn
Stricter rules since 2023 explain much of the contraction, including a ban on cumulative sites that prevents operators from combining multiple licence types on one platform. This shift prompted some arcade holders to migrate offerings to casino or betting sites, redistributing revenue across categories. Other changes raised the minimum gambling age from 18 to 21, prohibited bonuses, tightened advertising, and mandated ID and Epis checks.
Advertising scrutiny intensified with probes into promotions linked to public figures, aiming to curb risky behaviour. While intended to promote responsible gambling, these policies have curbed growth without clear evidence of enhanced protections, as the regulator itself notes uncertainty in their effectiveness.
Outlook Amid Uncertainty and Research Needs
Online revenue had surged about 60% cumulatively from 2020 to 2023, with 18% growth in 2023 alone, setting a high bar now breached. The regulator urges prompt studies to detect any migration to unregulated channels, a risk heightened by the legal market's woes. Reporting delays in 2024 stemmed from process changes and staffing shortages, but 2025 figures should arrive faster, offering clues on whether tightening controls stabilise or further erode the sector.
