Belgium Sees Decline in Sports Betting Signups

Sports betting in Belgium saw a noticeable decrease in new account signups for Euro 2024, as reported by the country’s gambling regulator, the Kansspelcommissie (KSC). While football continues to be a dominant force in the sports betting market, the number of new player accounts registered for the European Championship fell short of those seen during Qatar 2022 and Euro 2020. This trend suggests that Belgium’s sports betting market may be entering a period of slower growth.

Belgium Sports Betting Signups Drop for Euro 2024 Compared to World Cup

The Kansspelcommissie (KSC), Belgium’s national gambling regulator, recently published insights into sports betting activity around Euro 2024, revealing that new account registrations were lower compared to the last World Cup and Euro 2020. These findings raise questions about the evolving dynamics of Belgium’s betting market and the impact of recent regulatory changes, such as Belgium’s new minimum gambling age of 21, effective from September 1.

Key Points:

• New betting accounts averaged 1,031 per day during Euro 2024, down from 1,487 during the Qatar 2022 World Cup.
• Daily average stakes rose to €8.6 million, with winnings at €7.54 million during Euro 2024.
• The trend shows fewer new players joining, with only 31,481 new signups for Euro 2024, compared to 43,122 during the last World Cup.

Trends in Sports Betting Activity and Demographics

The KSC report shows fluctuations in betting activity based on major events, with 787 new accounts per day leading up to Euro 2024, rising to 1,031 during the tournament itself. Post-tournament, new accounts dropped to 317 per day, only slightly increasing to 368 per day during the Paris 2024 Olympics.

In terms of demographics, 31.4% of new players were aged between 21 and 29, while 25.79% were between 18 and 20. Belgium’s recent regulatory change to raise the minimum gambling age to 21 is expected to impact future account signups from the younger demographic, potentially further lowering new player numbers for upcoming events.

Comparing Euro 2024 with Previous Tournaments

Euro 2024 attracted 31,481 new players, a significant drop from 43,122 new players for the Qatar 2022 World Cup and 36,418 for Euro 2020. The average daily signups for Euro 2024 were also lower than these previous tournaments, with 1,487 per day during the World Cup and 1,175 during Euro 2020.

Despite the decline in new accounts, daily betting stakes and winnings saw substantial increases during Euro 2024, indicating that existing players remained highly engaged. Before Euro 2024, daily stakes averaged €6.5 million, which climbed to €8.6 million during the tournament. Daily winnings increased similarly, from €5.98 million to €7.54 million during the championship, showing that while fewer new players signed up, active bettors were willing to place larger bets.

Future Implications for Belgium’s Sports Betting Market

The declining interest in opening new betting accounts may reflect broader market shifts, including a saturation of active bettors or a shift in bettor preferences. Additionally, Belgium’s new minimum gambling age could limit new signups among younger players, impacting future engagement with the market.

As sports betting in Belgium continues to evolve, particularly with regulatory changes and market maturity, the KSC’s data may signal the need for operators to adapt strategies. Future events, such as the 2024 Olympics and the next major football tournaments, will test whether Belgium’s sports betting market can sustain growth or if further regulatory adaptations are needed to drive new player engagement.

The KSC’s report on Euro 2024 sports betting trends reveals a decrease in new account signups compared to recent major events. While active players continued to drive high betting stakes and winnings, the drop in new users may reflect changes in both market behavior and regulatory impact. As the Belgian market adapts, the sports betting industry will need to explore new ways to attract players and respond to evolving regulations, ensuring long-term growth in a maturing sector.