The government of Slovakia has been warned to pay attention to the rise of online gambling and in particular, the impact of online casinos outpacing land-based venues.
That was the message from Martin Bohos, the Director General of Slovakia’s gambling regulator (URHH), following the publication of a monitoring report on 2024 activity.
Over the year, gambling activity in the landlocked Central European nation grossed €24.2 billion ($26.39b), recording an increase from the €21.4b ($23.34b) figure the previous year.
Gambling winnings paid out amounted to €22.8b ($24.87b), while there was an increase of 9% on losses, which came in at €1.45b ($1.58b).
The state purse received $347 ($378.4) million in taxes, returning a second year of growth after €301m ($328.2m) was recorded in 2023.
The increasing proliferation of online casinos was identified as the key factor for the market growth, significantly outperforming the figures compiled for land-based venues and gaming halls in the country.
“Online casinos continue to hold the largest market share, recording a year-over-year increase in revenue of 29.9% to nearly €476m ($519m), with contributions to the state budget rising by 35.1% to €126m ($137m),” said Bohos.
This significant growth is related to innovations in digital services, changes in consumer behavior, and effective state regulation,” he added.
Secure and fair gambling environment
While the online boom has generated increased returns for state revenues, it also opens up fresh challenges and a need to maintain effective regulation, including controls for at-risk users.
The URHH detailed that it had blacklisted 89 illicit platforms to its growing database of unlicensed and illegal operators.
With over 820 sites now banned and a need for ongoing vigilance, this is a key area of concern for the regulator.
“Combating illegal gambling remains a priority for the regulator,” stressed Bohos.
“We will continue to strengthen oversight and implement stricter measures to ensure a secure and fair gambling environment for players.”
The evolving gambling landscape in Slovakia is one consequence of the liberalization of the market in 2019 with the introduction of the Gambling Act 30/2019, and it is expected that the direction of travel will continue.
With consumer habits changing and more traction for online gambling, physical venues will face further pressures and increasing competition.
Bohos concluded that the regulator’s goal is to strike a balance, to ensure further growth in the market is tempered with sound protections for users and adherence to responsible gambling practices.
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