Belgium iGaming GGR Hits €965m Despite 43% Crash in New Player Registrations

The Belgian gambling landscape in 2025 presents a stark contrast between financial growth and declining user engagement. While the official figures for online revenue continue to climb, regulators and industry experts are sounding the alarm over a significant shift in player demographics and recruitment. The Kansspelcommissie (KSC), Belgium's gambling authority, released its 2025 Annual Report showing that online activities now account for 59 percent of the regulated market, cementing its position as the dominant channel for consumers.

However, beneath the surface of this 965 million Euro success story lies a statistical downturn that could threaten the long-term viability of the legal sector. The recruitment of new players has slowed significantly, reigniting the debate over the effectiveness of current channelization strategies. When legal operators become invisible due to advertising bans or unattractive due to bureaucratic hurdles, consumers often gravitate toward unauthorized alternatives. This trend is being closely monitored across Europe as a cautionary tale of over-regulation.

Numbers and facts

In 2025, online Gross Gaming Revenue (GGR) reached 965 million Euro, marking a 5.4 percent year-on-year increase. In contrast, land-based gambling revenue fell by 7 percent to 656.09 million Euro. The most dramatic figure in the report concerns newcomers. Only 110,032 individuals registered for online gambling for the first time in 2025, a massive 43.1 percent drop from the 193,342 new players recorded in 2024. Despite this decline in recruitment, the average number of daily active online players saw a modest increase of 3 percent, reaching 160,144.

Player protection data also showed significant movement. Voluntary exclusions through the Excluded Persons Information System (EPIS) rose to 66,998 by the end of 2025, up from 56,458 a year prior. The KSC reported that its systems blocked over 715,000 attempted physical and online visits during the year due to exclusion records. While this demonstrates that technical controls are working, it also highlights the increasing friction for participants entering the regulated market.

Background

The decline in new players is primarily attributed to a series of regulatory tightenings. On September 1, 2024, Belgium standardized the minimum gambling age to 21 for all sectors, including sports betting and arcades. Previously, 18-year-olds could legally place bets. While those aged 21-29 remain the largest group of new players, the removal of the 18-20 demographic has left a permanent void in the growth statistics. Furthermore, strict KYC procedures and a comprehensive ban on gambling advertisements have made it difficult for licensed brands to reach their audience.

BAGO, the association of Belgian gambling operators, has expressed deep concern over these findings. They argue that legal operators are being made invisible while illegal sites continue aggressive marketing efforts.

"The fact that 28% of respondents aged 18 to 30 state they have already played on an illegal gambling site is an alarm signal that cannot be ignored." - BAGO Statement

The association emphasizes that players on illegal sites lack the guarantees of the Belgian framework, such as EPIS checks and mandatory deposit limits. KSC Chair Magali Clavie is now under pressure to develop a strategy that protects licensees from black market encroachment without compromising social responsibility.

Why it matters for German players

The situation in Belgium mirrors the challenges faced by the German market under the 2021 Interstate Treaty on Gambling (GlüStV 2021). German players at GGL-licensed casinos are subject to similar restrictions, including the 1,000 Euro monthly deposit limit and the 1 Euro stake limit per spin on slots. The Belgian experience serves as a warning that excessive regulation might drive players toward unlicensed MGA or Curacao providers.

Just like the LUGAS system in Germany, Belgium's EPIS ensures high safety standards but adds layers of friction that unauthorized sites lack. For German consumers, the takeaway is clear: while regulated sites offer legal recourse and protection, the ongoing debate about market attractiveness is vital to ensure that players do not seek out risky offshore alternatives. The Belgian data suggests that maintaining a visible legal market is just as important as implementing strict player protection tools.

What it means for GGL-licensed casinos

For operators holding a German license, the Belgian report is a case study in market dynamics. If regulations become too restrictive or if the legal offering is hidden from the public, new player acquisition will inevitably stall. German operators must focus on providing a superior, safe user experience to compete with the illegal market. As marketing remains heavily restricted, transparency and trust become the primary tools for retention. The Belgian figures prove that while existing players may adapt, the next generation is increasingly at risk of being captured by the unregulated circuit if the legal barriers are perceived as too high.