Slovakia’s Online Gambling Sector Sees 30% Revenue Surge Amid Industry Growth
Slovakia’s online gambling industry has experienced a significant surge in revenue, climbing 30% year-on-year to nearly €476 million ($516.5 million) in 2024, according to the latest report from the Slovakian Gambling Regulatory Authority (URHH). The nation’s overall gambling revenue across all verticals also saw a substantial increase, reaching €1.45 billion ($1.57 billion), marking a 9.6% rise from the previous year. The total amount wagered by players across Slovakia hit €24.2 billion ($26.26 billion), up 11% from 2023.
Online Gambling Outpaces Land-Based Sector
The annual report, released on March 11, underscores a shifting landscape in Slovakia’s gambling industry, with online gambling continuing to dominate over traditional land-based gaming. In 2024, players wagered €12.18 billion ($13.22 billion) online, with winnings amounting to €11.7 billion ($12.70 billion).
URHH Director General Martin Bohoš credited this growth to evolving consumer behavior, technological advancements, and effective regulatory frameworks. “The largest market share remains with online casinos,” Bohoš stated, emphasizing the role of digital innovation in shaping the industry.
While online gambling flourished, the land-based sector reported revenue of €480 million ($520.84 million). Gambling rooms contributed €340 million ($368.93 million), while casinos generated €140 million ($151.91 million). However, URHH warned that land-based revenue is expected to decline in 2025 due to increasingly stringent regulations imposed by local authorities.
Regulatory Concerns and Market Risks
The report also highlighted potential risks associated with stricter land-based gambling regulations, cautioning that these measures could drive players toward unlicensed operators. To combat this, URHH stressed the need for enhanced supervision and more robust mechanisms to prevent illegal gambling activities.
Player losses in land-based establishments totaled €481 million ($521.93 million), surpassing online gambling losses by €5 million. The Slovakian government also benefitted from increased gambling tax revenue, collecting €347.3 million ($376.85 million) in 2024—a 15% increase from the previous year.
Despite the overall rise in tax revenue, gambling room contributions dropped by 5% to €58.95 million ($63.97 million). In contrast, casino tax revenue grew by 26% to €16.4 million ($17.80 million), while online casino tax contributions soared by 35% to €126.1 million ($136.83 million). Numerical lotteries also posted a 9% rise, bringing in €47.6 million ($51.65 million) in tax revenue.
Strengthening Enforcement Against Illegal Gambling
Slovakia’s regulatory framework for online gambling has been in place since March 1, 2019, allowing international operators to apply for sports betting and casino licenses. As part of its ongoing enforcement measures, URHH added 89 new websites to its blacklist of unauthorized gambling platforms in 2024, bringing the total number of banned sites to 820.
Since the establishment of a dedicated online gaming division in 2022, URHH has intensified efforts to monitor and restrict illegal gambling activities. Looking ahead, the regulator is set to introduce stricter compliance mechanisms aimed at mitigating the risks of unlicensed gambling while ensuring consumer protection in Slovakia’s rapidly evolving gaming landscape.