(AsiaGameHub) –   Belgium’s regulated gambling market saw its first year-on-year downturn in 2024 since the onset of the COVID-19 pandemic. Official figures for total Gross Gaming Revenue (GGR) show a 4.86% drop compared to the previous year, with overall revenue declining from €1.69 billion in 2023 to €1.61 billion in 2024.

This significant contraction was largely driven by a poor performance in the land-based sector, coupled with a modest decline in the online segment; both sectors continue to represent the bulk of the market. Online GGR fell by 2.7% year-over-year, from €946.7 million (56.7%) to €919.1 million (57.1%), while land-based revenue saw a more pronounced decrease of 7.59%.

All gambling verticals witnessed fluctuations this year relative to the last. The casino sector was a standout performer, posting a 7.32% increase to reach total revenue of €638.45 million—with online channels accounting for roughly 75% of that figure. Conversely, revenue from arcade licensing fell from €437.2 million (8.94%) to €384.75 million (11.95%), mainly due to a sharp 23.8% plunge in online income, despite a minor uptick in offline revenue.

Low-stakes gaming revenue fell by another €222 million, a decrease of 21.71%, and café bingo revenue dropped by 24.7%. Sports betting GGR has been in a consistent year-on-year decline since 2020, falling from €389.94 million (10.4%) to €364.3 million (6.59%). For instance, offline sports betting revenue decreased by 13.58% compared to the previous year, while the online segment saw a much smaller decline of 2.11%.

The retail betting sector continues to face challenges, with the number of licensed shops dropping by over 18% since 2008—from 535 licensed by the Belgian Gaming Commission to 408 this year. This has contributed to an overall decline of nearly 18% in land-based sports betting revenue.

While gambling still constitutes the majority of total revenues, this trend intensified during the pandemic. However, regulators have voiced concerns about a potential shift to illicit or illegal gambling platforms and advocate for more research into illegal gambling activities.