The EU‑27’s online gambling market is largely unregulated, with €91.6 billion of revenue falling outside national oversight
Executive summary: CFG published an analysis indicating that 72 % of online gambling gross gaming revenue in the EU‑27 is outside local regulatory frameworks, valuing the unregulated market at approximately €91.6 billion. The finding reveals a major regulatory gap that could result in lost tax income, uneven competition between licensed and unlicensed operators, and heightened consumer‑protection risks.
Who is involved: CFG (research provider), EU‑27 regulators and legislators, online gambling operators, and consumers.
Likely next: EU institutions may review the gambling directive or launch coordinated enforcement actions; operators could face higher compliance costs if the gap is closed.
A CFG analysis released on 23 September 2026 shows that 72 % of online gambling gross gaming revenue in the EU‑27 operates beyond the reach of national regulatory regimes, amounting to roughly €91.6 billion. The figure underscores a substantial enforcement gap that could affect tax revenues, consumer protection, and competitive fairness among operators. While the study does not prescribe policy, it highlights a concrete metric that regulators may use to assess the scale of the unregulated segment.
What's next — scenarios
Fragmented Regulatory Tightening (50%)
Increased compliance costs and margin compression for operators in high-regulation jurisdictions.
- New national licensing requirements in key EU markets
- Increased tax rates for regulated operators to close budget gaps
EU-Wide Standardization Initiative (30%)
Significant market entry barrier shifts favoring large-scale multinational operators over smaller niche players.
- European Commission formal proposal for cross-border gambling standards
- Unified EU player protection directive
Status Quo / Enforcement Stagnation (20%)
Continued growth of the grey market, creating an unlevel playing field and persistent tax leakage.
- Lack of legislative response to the CFG report
- Failure of member states to coordinate enforcement actions
What to watch
- EU Commission policy statements regarding digital services taxation (Q4 2026)
- National gambling regulator announcements in Germany or France (next 60 days)
- Quarterly earnings reports from major EU-focused gambling operators for compliance expense guidance (Q4 2026)
Timeline
- — CFG: La economía del juego no regulado en Europa, valorada en 91.600 millones de euros (PR Newswire)
Analysis — what this means
Sectors affected
- online gambling
Key entities
Sources
- CFG: La economía del juego no regulado en Europa, valorada en 91.600 millones de euros — PR Newswire
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