Prague, Czech Republic – There are always a lot of controversies when a country decides to welcome the gambling industry. And concerns are often justified considering the market could be potentially harmful for some consumers if not done right.
However, a recent GoodLuckMate gambling survey revealed that over 90% of consumers don’t play at unregulated casinos when they have solid licensed operators. This just further supported the need for a developed and regulated gambling market.
Luckily, there are many positive examples where spot-on regulations and careful expansion have led to unlocking the full benefits of a well-developed gambling industry. Central European countries are a good example of how gambling companies can drive revenues for any respective market, with opportunities hailing from different sides, from game developers to affiliate businesses and casino operators.
Gambling businesses boosting the economy
Right off the bat, if you ask someone in the gambling industry to name Central European companies in the industry, you’d probably get lots of game studios. These are providers that typically supply land-based and online casinos with platforms and games.
Some German brands include Merkur Gaming and Blueprint Gaming, which are part of the same group. Then, you have Novomatic, Amatic Industries, and Rabcat in Austria. Endorphina is a huge name in the industry that’s based in the Czech Republic, while Synot is Slovakia’s pride and Kalamba, that is based in both Poland and Malta.
All of these can pay significant taxes, provide employment opportunities, and improve the overall business climate in their respective countries. Moreover, the gambling industry is an ecosystem that goes beyond the game providers we mentioned above. Those games are supplied to online casino operators.
Many of those are based in Central European countries, like Tipsport, the most popular betting agency in the Czech Republic around since 1991. According to some online reports, the company’s net revenue is over €293 million, and it employs over 1,700 people. There’s also Memato group, a Slovenian affiliate program under whose umbrella a few online casino brands operate.
Current state of gambling market in Central European countries
Let’s see how the countries are performing individually when it comes to making the best of the gambling industry.
- Germany – the industry made €16 billion, and the gross gaming revenue was €2.2 billion in 2019. The projections place it by at least one-third higher for 2024.
- Switzerland – the industry made €21 in gross gaming revenue of online casinos only in their first half-year of operations. There are also land-based casinos in the country, all noting equally impressive results.
- Austria – there’s a monopoly that will last by 2027 in the country. Yet, the online sports betting market is open and generates sweet profits. We also mentioned other sectors of the industry where Austrian companies make the big bucks.
- The Czech Republic – sports betting and slots are the county’s two most popular verticals and generate revenues of about €316.6 million and €690 million, respectively. Online betting and gambling are on the rise, as well, and expected to drive the market’s expansion.
Hungary, Slovakia, and Poland are naturally all separate stories with ups and downs. Some have opened their markets and profited largely. Poland is such an example, whose legal market went from €11 million to €1.82 billion once fresh regulation was introduced. Others, like the one in Hungary, remain strict and closed to the idea.