Belgium’s regulated gambling market contracted in 2024, marking its first full year decline since the pandemic era, with total GGR falling 4.86% year-on-year to €1.61bn from €1.69bn in 2023.
The figures, released by the Belgian regulator, point to a market feeling the effects of tighter rules, particularly across land-based channels.
Online remained the largest segment, generating €919.1m, or 57.1% of total GGR, though that was still down 2.7% year-on-year.
Land-based revenue declined 7.59% to €690.41m. Casino was the only major segment to record growth, rising 7.32% to €638.45m, while arcade licences, low stakes gaming and betting all fell.
The downturn comes after a series of regulatory changes that have materially reshaped the legal market, including the ban on combining multiple licence types on one site, the increase in the minimum gambling age from 18 to 21, bonus restrictions, tighter advertising rules and stricter ID and EPIS checks.
The regulator said it remains unsure whether the tougher regime has improved player protection and warned that further research is needed to determine whether consumers are shifting towards unlicensed operators. This is the awkward question hanging over the Belgian market, whether slower legal growth reflects safer gambling, or simple leakage?
