EGBA Operators Hit €18bn in Online Revenue as Lower Player Returns Lift Margins

Europe’s largest online gambling operators generated €18 billion in combined gross gaming revenue during 2025, a sharp 34% increase from the previous year, even as the amount returned to players continued to fall.

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The figures, published in the European Gaming and Betting Association’s 2026 Annual Activity Report, cover operators representing roughly 30% of Europe’s regulated online gambling market. The association’s membership includes Bet365, Entain, Betsson Group, Evoke, FDJ United, Flutter, LeoVegas, Super Technologies and Tipico.

The report points to a year of rapid expansion. Member companies accepted €275.3 billion in stakes, up 28% year-on-year, while active customer accounts climbed to 43.8 million. That is a 13% increase from 2024 and almost half again as many as were recorded in 2021.

Lower RTP, Higher Margins

One of the more notable shifts appears in player returns.

The average return-to-player rate dropped to 93.4% in 2025, continuing a downward trend that has been in place since 2021. A year earlier, the figure stood at 93.7%.

Even a modest reduction had a visible financial effect. Operators’ collective operating margin increased to 6.6%, compared with 6.3% in 2024.

Across the industry, lower RTP settings have increasingly been used to offset mounting costs linked to higher gambling taxes and tighter regulatory measures such as deposit and stake limits. The approach remains contentious, with some industry observers warning that smaller payouts may discourage long-term customer spending despite improving short-term profitability.

Customer winnings still rose in absolute terms, reaching €257.3 billion during the year, a 27% increase driven by the overall growth in betting activity.

Sports Betting Drives Growth

Sports betting delivered the fastest expansion among EGBA members.

Revenue from sports wagering surged 49% to €8.2 billion, outpacing online casino, which grew 23% to €8.6 billion. Casino games remained the largest single revenue source, accounting for 48% of total GGR, while sports betting contributed 46%. Poker and other products—including bingo, esports, virtual betting and event betting—each represented 3%.

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Within sports betting, pre-match wagers continued to dominate, making up 63% of sports betting revenue. Live betting accounted for the remaining 37%.

The association also expanded its regulatory footprint during the year. Its members collectively held 401 online licences across 22 European jurisdictions, up from 321 licences a year earlier.

Responsible Gambling Remains a Priority

Alongside the financial results, the report highlighted a series of responsible gambling initiatives introduced during 2025.

Working with the European Advertising Standards Alliance, the EGBA introduced a Responsible Influencer Marketing Pledge aimed at tightening age verification, improving transparency around paid promotions and limiting content likely to appeal to minors. The framework also includes independent monitoring and mechanisms for removing content that breaches the standards.

The association’s annual European Safer Gambling Week also continued to grow, bringing together 221 organisations across 24 countries. During the campaign, responsible gambling messages appeared during live televised football matches in Bulgaria, Germany, Greece and Italy for the first time.

Another addition was the launch of the safergambling.eu platform, designed to give consumers country-specific information on support services and self-exclusion options across Europe.

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Sources: igamingbusiness.com