Online Gambling Makes Up 3% of EU GDP

Swiss study says betting services alone generate billions

A recent study by the Swiss Institute of Comparative Law shows that online gambling accounts for 3% of the EU's total GDP, with betting services alone raking in nearly $8.7 billion in 2003.
 
The study examined the legal and economic facets of gambling and games of chance in the European Union. The report also looks at regulations and future development of the industry.
 
Online gambling in particular, the study says, will continue to evolve as offshore gambling is booming.
 
When examining gambling restrictions in EU member states, the report found that monopoly restrictions go against the Treaty of Rome and may be focused on financial gains for public revenue at the expense of the consumer. The study also suggests that there are inconsistencies in gambling taxation in member states that distort the market.
 
Commenting on the report, the European Betting Association (EBA) and the Remote Gambling Association (RGA) said the study shed significant light on the European gambling market and its potential.
 
"The findings of this Study confirm what we have witnessed and suffered in our daily business for years by these restrictions, the European Commission has yet to announce any next steps based on this study," the organizations said in a statement.