In Europe, sports betting is quite popular. A careful examination of gross sports betting income in European countries reveals that the continent is at the top of the worldwide list. In 2022, the European Betting Association forecasts a 7% growth in gross income. Even when the COVID-19 situation improves and economies reopen, this rise is attributable to the prohibition of land or shop-based betting across the nation. France, the United Kingdom, the Netherlands, Italy, and Finland continue to outperform the rest of the world when it comes to online sports betting.
Non-uniform legal framework
Online sports betting makes up a large share of Europe’s entire online betting income, according to Statistica, a database business located in Germany. However, not all European countries have had the same level of development in online sports betting. Legislation is one of the variables recognized by online sports betting specialists as contributing to the non-uniform growth of online sports betting in Europe. In Europe, there has been a lack of consistency in the regulations that apply to online sports betting.
Although the European Union advocates for uniform laws when it comes to management and administration of different aspects in the continent. One area that has lagged behind is online sports betting. The continent as a unified economic block expected to have the same rules and procedures but when it comes to online sports betting.
There are several aspects that need to be addressed, according to the industry and experts. Every nation has its unique gambling and sports betting legislation, according to Mightytips online sports betting specialists. Despite the fact that each European Union member state is expected to adhere to the treaty’s fundamental freedoms.
With no specific legislation applicable to all member states, online betting in Europe managed differently in each country. There are some countries that have a well-structured regulatory regime while others have lagged behind in this area. Germany and Spain rank as countries that have the most advanced regulatory system in Europe.
The two countries have laws on two levels, state and local regions. The Netherlands has online sports betting regulated under the Dutch Gaming Authority. Ireland and other several European states have no regulatory frameworks. Although this does not translate into poorly managed online sport betting. Let us review the state of sport betting in a given number of European markets.