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Europe’s unregulated online gambling market was worth an estimated €12 billion in net revenue in 2025, according to research commissioned by EUROMAT, the European trade body for land-based gaming operators, and conducted by Helios and Regulus Partners. The figure is three times the study’s estimate for 2019 and represents around 25% of the online gambling …
Europe's Unregulated Gambling Market Tripled Since 2019, Study Says

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