Illegal Sites Took 71% of Europe’s Betting, Casino Sales in 2024
Spectators watch track and field competitions during the Paris 2024 Olympic Games.
Photographer: Nathan Laine/BloombergIllegal gambling operators captured 71% of Europe’s online betting and casino market last year, or €80.65 billion ($93.8 billion), as regulators struggled to rein in crypto casinos, prediction markets and unlicensed sportsbooks during a booming year for sports.
That represents a 53% jump in illegal gross gaming revenue, the difference between what bettors gamble and what they win, from 2023, according to data from Yield Sec published on Tuesday. Yield Sec, a data analytics company that monitors online marketplaces, defines illegal platforms as those not licensed in jurisdictions they are targeting or transacting with.