The scale of the gambling industry in Belgium

1) Quick snapshot of the market (last available full data)

Total GGR (gross gaming income): ~ €1.7 billion for 2023 - an increase of + 16.7% by 2022. The online segment grew faster than offline and for the first time occupied ≈55% of the market (offline - ≈45%).

Growth drivers: offline recovery after the covid period and continued structural shift online while tightening advertising rules and limits.

2) Infrastructure and license quotas

Casinos (class A/A + online): maximum 9 licences - 4 in Flanders, 4 in Wallonia and 1 in Brussels.

Playrooms (B/B + class online): maximum 180 licenses nationwide.

Stakes (Class F): F1 organisers limited to 30 licences; F2 rate collection points - up to 600 stationary (and up to 60 mobile) are allowed, 444 points were actually active ~ (October 2024).

3) Online vs Offline

Online> offline: according to the regulator's reports for 2023, online accounted for ≈55,5% of GGR, offline - ≈44,5%.

At the same time, offline fully recovered to the dock level, and online remained about twice as much as before covid (structural effect).

4) Verticals and their weight

The casino segment (terrestrial + online casinos) is one of the key beneficiaries of 2023 growth; the regulator noted a double-digit increase in GGR.

Bets grow slower than casinos and more sensitive to advertising restrictions, but retain significant volume through a mixed offline/online model and a network of F2 points.

"Cafe gaming" (license C) is noticeable in the offline structure of GGR; the accounting methodology makes the vertical comparison a thin place, but the growth trend in 2023 is confirmed.

5) Regulatory framework affecting scale

Online deposit limit: €200 per week per player and to the default site (possible increase - only after additional verification of solvency).

Advertising: since 2023, there has been a strict restriction/prohibition of mass advertising with a phased compression of sports sponsorship - a factor that restrains "aggressive" growth and adjusts the channels of attraction.

The model "online follows offline": A +/B +/F1 + are issued only to holders of the corresponding offline rights (A/B/F1), which moderates the number of operators and stabilizes the structure of the proposal. (See regulator license pages.)

6) Geography of supply

9 casinos are distributed between the coast (Ostend, Knokke, Blankenberge, Middelkerke), Ardennes/Wallonia (Spa, Namur, Dinan, Schodfontaine/Liege) and the capital (Brussels). This is a "chamber" model without megaresorts.

Up to 180 gaming halls (B) provide "step-by-step" availability of gaming content outside the capital and major resorts.

Up to 600 F2 points support offline rates (with distance and urban zoning limits).

7) What it means for players

High security: a single EPIS self-exclusion base, a limit of €200/week, strict KYC/AML - all this reduces the risk and does. be sites predictable.

Transparency of assortment: a limited number of licensees make it easier to choose a legal site and access certified games.

8) What it means for operators and providers

High entry threshold and license "quotas" = emphasis on compliance and UX quality instead of marketing overdrive.

Online is the main driver of growth, but within the framework of strict advertising rules and limits, product and retention are more important than "flooding traffic."

Retail chain F2 remains a strategic asset: offline outlets support brand presence and omnichannel.

Key figures for Belgium (summary)

GGR 2023: ~ €1.7 billion (+ 16.7% by 2022). Online ≈ 55%, offline ≈ 45%.

Casino (A): Maximum 9 licenses.

Playrooms (B): 180 licenses maximum.

Rate points (F2): allowed up to 600 (active ~ 444 in 10/2024).

Online deposit limit: €200/week/site (default).

Bottom line: the Belgian industry is an average size, but very disciplined European market: about €1.7 billion GGR, concentration of operators due to "plus licenses," structural superiority of online, "chamber" offline network of 9 casinos and limited quotas for gambling halls and betting points. There is growth, but it is regulated - in favor of stability and player protection.