Online casinos in Slovakia are growing twice as fast as the land-based segment
Online casinos in Slovakia are showing incredible growth rates, outpacing traditional land-based establishments. In 2024, the gambling market in Slovakia saw records and significant changes, attracting attention from both regulatory authorities and players. According to the ÚRHH (Office for the Regulation of Gambling), online casinos are the main driver of industry growth.
Records and Statistics of 2024
The Slovak gambling market in 2024 grew by 14%, reaching a total betting volume of €24.2 billion. This is significantly higher than the 2023 figures, where the betting volume was €21.4 billion. However, the most attention-grabbing statistic was the share of online casinos, which reached €12.8 billion, a massive figure for this sector.
Key Figures for 2024:
- Total betting volume: €24.2 billion (a 14% increase compared to 2023)
- Share of online casinos: €12.8 billion
- Net losses of players in online casinos: €480 million
- Revenue from online casinos: €476 million (a 29.9% increase)
- Tax contributions from online casinos: €126 million (a 35.1% increase)
- Betting volume on sports events: €2.73 billion, with tax contributions of €86.91 million (an 8% increase)
Online Casinos vs. Land-Based Establishments
The online casino market continues to outpace traditional gaming establishments in Slovakia. Betting in online casinos amounted to €12.8 billion, more than double the betting volume in land-based casinos and gaming halls. In contrast to online casinos, land-based establishments showed mixed results, highlighting the difference in consumer preferences and new market trends.
| Type of Establishment | Betting Volume | Losses |
|---|---|---|
| Land-based Gaming Halls | €6.14 billion | €340 million |
| Land-based Casinos | €2.78 billion | €140 million |
There has been particularly noticeable growth in the revenue from online casinos, which increased by 29.9% over the year, and tax contributions amounted to €126 million, a 35.1% increase compared to the previous year.
Impact of Innovations and Technologies
One of the reasons for the rapid growth of online casinos is the innovations in digital services and changing consumer behavior. Online platforms offer players convenience and accessibility, significantly increasing their popularity. Additionally, successful government regulation and the introduction of new technologies enable operators to compete effectively in the market.
Important Points:
- Online casinos are the main driver of sector growth.
- New technologies and digital platforms are attracting more players.
- Competition among licensed operators is expanding the market.
Challenges and Issues
Despite the rapid growth, Slovakia faces a number of challenges in regulating and controlling gambling. The increasing popularity of online casinos has also led to a rise in illegal platforms. In 2024, the ÚRHH blocked 89 illegal websites, bringing the total number of blocked sites to 820. This highlights the need for increased control and the development of new mechanisms to combat illegal gambling content.
Moreover, regulators are warning of the potential for “hyper-differentiation” in the market, where online casinos will continue to outpace land-based establishments, which will require additional efforts from the authorities to maintain balance.
Main Challenges:
- Fighting illegal platforms.
- Strengthening player self-exclusion controls.
- Improving mechanisms for protecting vulnerable players.
Outlook and Future
In the near future, online casinos are expected to continue dominating the Slovak gambling market. The sector is projected to grow even faster, driven by further digitalization and intensified competition among operators. However, to maintain a balance between growth and player protection, regulators will need to continue improving control measures and safeguards against the harmful consequences of gambling.
Slovakia is showing unique growth rates in the online casino and gambling sector in Central Europe, and it is likely to remain one of the leaders in this field in the coming years.