Record growth despite deposit limit
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9 Aug 2024 •
Reading time: 2 minutes The Belgian gambling market had an exceptional year in 2023, according to the latest report from the Gaming Commission. Despite the introduction of new regulations aimed at limiting player spending, the sector recorded record growth, exceeding €1.7 billion in gross profits.
Online casinos on growth traject
The figures published by the Commission reveal a significant increase in revenues, both for online and physical games. Online casinos, particularly those linked to Belgian physical establishments, particularly fared well.
The online gaming platforms linked to the nine Class A casinos recognized in Belgium generated almost half of the sector’s total profits. Among them, it was the Napoleon Games online casino, associated with the physical casino in Knokke, which generated the highest revenues. However, it was Betway Casino, linked to the Brussels casino, that experienced the most spectacular growth with a 140% increase in its profits in one year.
Restrictions with little impact
Since the end of 2022, new rules have been introduced to try to regulate the gambling sector. These measures include a ban on advertising and a limit on deposits of €200 per week per gaming site. However, these restrictions seem to have had little impact on player behavior.
“It takes time for advertisements, even if they are no longer in the public space, to disappear from consumers’ minds. We knew that the effects would not be immediate.”
Magali Clavie, president of the Gaming Commission
Online deposit limit
The deposit limit of €200 per week, presented as a brand new measure to protect players, seems to have had little effect on the overall results of the sector. According to Ronny Willemen of Gokhulp, this measure is not surprising because players have the possibility to increase this limit themselves. For Magali Clavie, president of the gaming commission, some of the measures need to be reviewed.
“We have legislation that has absolutely not achieved its effects. In particular, the one concerning the limitation of deposits on online gaming accounts to €200 per week. This measure was very easily circumvented since players only had to open three accounts instead of one, and therefore this limit was of no practical use.”
Magalie Clavie
The results of the report of the Gaming Commission are unequivocal: the gambling sector in Belgium is booming. This situation raises new questions about the effectiveness of the measures put in place to protect players and limit the risks associated with gambling addiction.