Learn about the Eastern European gambling market in 2024. Understand the latest trends, regulatory changes, and significant challenges affecting the industry.

The Ups and Downs of the Eastern European Gambling Market: A 2024 Overview

The gambling market in Eastern Europe has been through good and bad times over the years. Nevertheless, its growth has made it an essential segment of the global gaming industry. In this 2024 overview, we’ll provide a detailed analysis of the region’s market landscape, including the progress and pitfalls.

Overview of the Gambling Market 

Online gaming rules and regulations are the main drives behind the gambling situation in Eastern Europe. These laws may tally in different countries, but they often contrast. However, plenty of operators have recorded massive success regardless of the regulations. In countries like Poland, Romania, and the Czech Republic, the market is on an all-time rise as online gambling is gaining a significant grip among residents. Also, the best casinos, like Vulkan Bet, are constantly drawing in players with impressive offers. A good example is the Vulkan Bet 110 zł za rejestrację for new users. However, in other areas like Ukraine and Russia, gambling hit its lowest point in history. Most of this has been due to the persistent war.

Eastern Europe Gambling Market Analysis 

As mentioned, the war in Ukraine undoubtedly impacted the Eastern European gambling market and the gambling behavior of players. Let’s look into more detail about the situation of the gambling market in some countries in the region: 

• Poland. Poland is known to have one of the strictest regulations in Europe when it comes to gambling. State monopoly oversees online gambling, excluding digital betting and promotional raffles. So, the market is tough, but it’s one with good potential. In 2021, Poland’s Ministry of Finance reported that online gambling generated over €600 million. They also stated that total betting turnover exceeded €2 billion, a 46% increase from 2020. In spite of the  COVID-19 crisis, online betting has grown steadily and positively. Poland’s regulatory policies led to sportsbooks earning much more than online casinos. In online gambling, betting had the largest share, with over 50% of the revenue. Online casinos came second with over 23%, followed by the raffle at almost 20%. Bingo and poker together made up 2-3%. However, certified online betting providers still have to pay a 12% turnover tax, which has been heavily criticized. This tax rate was supposed to be corrected by the 2017 amendments but was not. 

• Romania. As one of the quickest-growing markets in Eastern Europe, Romania has recorded massive increases over time. The National Gambling Office regulates the market with its large variety of products. Online gambling revenue grew by 84% in 2017, 50% in 2018, and 39% in 2019. The most considerable growth was during the Covid-19 year, with an outstanding 88% increase. In 2021, the rise was smaller at 9% — less impressive than previous years. Romania is also amongst the top five booming markets in all of Europe. With 56.7%, it’s only topped by the UK with 59.3% and Denmark with 59.4%. Online betting makes up 60% of the gambling market in Romania, double the 30% for online casinos. Poker, lottery, and bingo make up under 10% of the market.

• Czech Republic. The gambling market revenue has increased about ten times in the Czech Republic over the past decade. The Czech Ministry of Finance reported that from 2017 to 2021, gambling revenue grew from nearly €330 million to €800 million. Between 2010 and 2017, revenue grew by over 20% each year. Growth slowed to 3.1% in 2018 but dropped above 20% in 2019. Most revenue growth came from online gaming, boosted by COVID-19 limitations and the suspension of significant sporting events. However, in 2020, it fell by 1.7% due to the disrupted sports calendar.

Pitfalls of the Eastern European Gambling Market 

Outside the growth and revenue generated by the Eastern European gambling market, it faces several challenges. High taxation, especially in Poland and Romania, is the main drawback. The 12% turnover tax in Poland is very oppressive, while Romania’s high tax rates similarly strain financial outcomes. These taxes reduce profit and limit growth, making it challenging for operators in these countries to thrive. 

The war in Ukraine also adds to the list of upsets that the gambling market has faced and is facing. It disrupted the gambling market through economic instability and crises. The war led to reduced consumer spending, diverting potential investors’ attention. Furthermore, the conflict has strained regional supply chains and regulatory environments, further complicating the market landscape.

Lastly, strict regulations on gambling in some parts of Eastern Europe are another troubling factor. Although in some countries, the gambling market is overseen by specific bodies and authorities, some parts still face unfriendly policies.

A Thriving Market Despite Challenges   

The Eastern European gambling market Is arguably one of the most successful in recent times. It has marked significant growth and establishment in the 21st century. Without debate, strict regulations and high taxes discourage international operators from entering the market.  Nonetheless, existing operators in these regions are coping with the pitfalls and making profits.