Belgium Gambling Revenue Falls for the First Time Since 2020

Belgium regulated gambling revenue fell in 2024, ending the growth run seen after the Covid period. New data from the Belgian regulator points to weaker retail activity, softer online results, and pressure from rule changes introduced since 2023.

Good to Know

• Total GGR in Belgium fell 4.86% to €1.61 billion in 2024
• Online gambling still led the market with 57.1% of total GGR
• Land based gambling dropped faster than online across most segments

Belgium Gambling Revenue Falls as Retail Weakens and New Rules Bite

A drop in physical gambling did most of the damage in 2024, even though online also slipped. Total gross gaming revenue across licensed operators came to €1.61 billion, down from €1.69 billion a year earlier. It was the first full year of contraction for the regulated market of Belgium since 2020.

Online gambling still held the biggest share of the market. Licensed online operators generated €919.10 million, or 57.1% of total GGR, but that figure still fell 2.7% year on year. Land based gambling reached €690.41 million, equal to 42.9% of the market, after a sharper 7.59% decline.

Casino activity stood out from the broader slowdown. Casino GGR rose 7.32% to €638.45 million, with online casinos producing about three quarters of that total. Growth also appeared on both sides of the casino market, with offline casino revenue up 3.7% and online casino revenue up 8.7%.

Elsewhere, the numbers were weaker. Arcade licences fell 11.95% to €384.75 million. Online arcade activity dropped 23.8%, while offline revenue in that segment rose 4.24%. Low stakes gaming dropped 21.71% to €222 million. Bingo in cafes also fell, down 24.7%.

Betting Shops Lose Ground

Sports betting GGR came in at €364.3 million, down 6.59%. Online betting held up better, slipping only 2.11%, while offline betting fell 13.58%. Betting shops and outlets took an even harder hit, with a 17.9% year on year GGR drop.

Part of that pressure came from fewer licences. The number of betting shop licences fell from 535 to 408 over two years. Retail outlets also posted milder sales declines, while sports betting as a product rose 4%. At the same time, horse racing and other bets moved the other way, falling 32.8% and 44.7%.

The regulator linked much of the market decline to tighter rules rolled out since 2023. One major change banned cumulative sites, so operators could no longer host products from different licence types on a single platform. Arcade licence holders felt that change more than most. In some cases, operators shifted products onto casino or betting sites, which changed where revenue landed across licence classes.

Other rules also added pressure. Belgium raised the minimum gambling age from 18 to 21. Authorities also banned bonuses, tightened advertising rules, and enforced ID and EPIS checks more strictly. Advertising limits have been a major part of policy in Belgium, but the regulator said it is still unclear whether the changes actually improved player protection.

The longer trend makes the 2024 result stand out more. Online GGR in Belgium rose about 60% from 2020 to 2023, including 18% growth in 2023 alone. Against that backdrop, the latest decline points to a market that is no longer growing in a straight line.

The regulator also flagged another issue. It said urgent research is needed to check whether players have started shifting toward unregulated gambling sites. Reporting for 2024 was also delayed and more summarised than usual because of changes in financial reporting processes and understaffing in the financial control unit. Figures for 2025 are expected on time.

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