7 European Markets that everyone should be watching in 2027

SBC Summit Europe | 19-21 April 2027 | RAI Amsterdam

Europe isn’t just home to historic cities, iconic landmarks and incredible cuisine. It also boasts some of the most established and exciting gambling markets in global gaming. 

And right now, many of those markets are going through a period of significant change.

Previously state-run markets are opening their doors to private operators, established jurisdictions are rethinking their regulatory frameworks, and online gaming continues to record significant growth across the continent.

So naturally, it got us thinking: which are the most exciting European markets in 2027? 

With the inaugural SBC Summit Europe heading to the RAI Amsterdam from 19–21 April 2027, we’ve picked out seven markets that everyone in the industry should have firmly on their radar.

How We Defined “Opportunity”

Before we get into the list, it’s worth noting two things.

First, the biggest and oldest market doesn’t always present the biggest opportunities.

Second, what makes a market attractive will differ from company to company, depending on their goals and objectives.

So for this list, we focused on four key factors:

• Market size and growth
• Regulatory direction
• Accessibility for private operators
• What changes or opportunities are emerging in 2027

That could mean a newly opened market, regulatory reform, changing tax conditions or simply an established market experiencing significant online growth.

Now we are all on the same page. Let’s explore.

Finland: Europe’s Next Major Open Market?

One of the biggest opportunities for the industry in 2027 will undoubtedly be Finland, which will move away from its longstanding state-owned monopoly and open online betting and casino gaming to licensed private operators from 1 July.

• Finland is already a highly digital gambling market, with online gaming expected to account for around 65% of its €2.4bn GGR in 2025.
• There is also significant existing demand outside the monopoly. A 2023 working group from Finland’s Ministry of the Interior estimated gambling expenditure outside the monopoly system at around €500m–€550m annually.
• Competition officially begins on 1 July 2027, when licensed operators will be able to offer betting, online casino games and other specified products alongside Veikkaus.
• Interest is already high, with Finland receiving 75 gambling license applications by September 2026, up from 50 licence applications in June 2026.

Why watch Finland in 2027?

The opportunity is clear: Finland combines a highly digital player base with considerable existing demand outside the monopoly. But challenging an established operator such as Veikkaus won’t be easy, making the battle for market share one of Europe’s most interesting stories to watch in 2027.

Spain: Scale, Growth and Regulatory Change

Spain’s story is slightly different. It is already one of Europe’s major regulated gambling markets, but continued online growth means the opportunity is far from over.

• Spain’s online market continues to grow at pace, generating €454.1m in GGR in Q1 2026, up 13.9% year-on-year.
• Online casino is driving much of that momentum, with GGR reaching €247.7m, up 21.7% during the quarter.
• Player activity also remains substantial, with Spain recording an average of almost 1.9 million active online gaming accounts per month during Q1 2026.
• Major operators still see room for growth, with Betano entering Spain in June 2026 as part of its continued European expansion.

Why is Spain attractive in 2027?

Spain combines something operators rarely find in an established market: significant scale alongside continued online growth.

However, the regulatory landscape is continuing to evolve. Further restrictions around advertising and promotions are under consideration, while a new joint deposit-limit system will apply from 25 March 2027. For operators, the opportunity will be balancing that changing framework against a digital market that continues to expand.

Italy: Great Opportunity, but at a Cost

Size doesn’t always matter. But with Italy, it certainly counts.

Italy will enter 2027 as one of Europe’s largest gambling markets, with its online sector continuing to expand alongside a major restructuring of the licensing regime.

• Italy is one of Europe’s largest gambling markets, generating approximately €21.7bn in GGR in 2025.
• Its online sector is still expanding, with digital GGR growing 11.2% to €5.45bn during the year.
• The recently restructured online market saw 52 concessions being awarded to 46 operators, establishing the competitive landscape for the coming years.

Why is Italy attractive in 2027?

Italy combines something relatively few European markets can offer: huge existing scale and continued double-digit online growth. However, that opportunity comes at a cost. With concessions priced at €7m and online tax rates increasing to 24.5% for sports betting and 25.5% for casino, operators will need to decide whether the potential returns justify the increasingly high cost of doing business.

Germany: Can Regulation Unlock Its Huge Potential?

Germany’s opportunity doesn’t stem from a new market opening or rapid online growth. Instead, it comes from the possibility of an already sizeable market becoming more commercially workable for licensed operators.

• Demand is certainly not the problem. In 2025, €11.56bn was staked online across the cross-state gambling products monitored by the GGL. 
• However, channelisation remains a challenge. A regulator-commissioned study in 2024 estimated that 77% of online gambling activity was channelled towards licensed operators, leaving almost a quarter outside the licensed market.
• There are signs that the framework is becoming more flexible. From July 2026, the standard €1 online slot stake limit was relaxed for qualifying players to allow stakes of up to €3 or €5 under certain conditions.
• And 2027 could bring further change, with Germany evaluating its existing gambling framework and the GGL preparing for a new licensing cycle.

Why watch Germany in 2027?

The opportunity isn’t about creating demand. It’s about whether regulatory changes can make the licensed market more attractive and help operators capture more of the gambling activity that already exists.

Denmark: A Mature Market Still Finding Room to Grow

Denmark may be one of Europe’s more established regulated gambling markets, but recent figures suggest there is still room for continued digital growth.

• Online casino became Denmark’s largest gambling segment for the first time in 2025, generating DKK4.31bn in GGR and overtaking monopoly lotteries.
• Denmark is also becoming increasingly digital, with 73% of gambling taking place online in 2025, up from 70% the previous year.
• That momentum has continued into 2026, with online casino GGR increasing 22% year-on-year in July, alongside a 21.3% increase in betting.
• Unlike the newly opening markets on this list, Denmark already has an established licensing framework for private betting and online casino operators, combining accessibility with continued digital growth.

Why is Denmark attractive in 2027?

Denmark proves that attractive opportunities don’t always require a major regulatory shake-up. It combines an established regulated market with a highly digital player base and continued online growth, making it an interesting proposition for operators looking at mature European markets.

Portugal: An Established Market Continuing to Grow

Portugal is another market where the opportunity comes less from regulatory change and more from continued online growth and an established licensing system open to private operators.

• Portugal has recorded sustained online growth in 2026, with GGR increasing 13.7% year-on-year to €323.7m in Q1, followed by 14.4% growth in Q2.
• Online games of chance are driving much of that activity, accounting for 63.1% of online GGR in Q1 2026, compared with 36.9% from sports betting.
• Portugal already operates an established licensing system open to private online operators, rather than relying on a future market-opening reform.
• And operators are still entering the market, with Retabet and Play Jogo granted licences in July 2026.

Why is Portugal attractive in 2027?

Portugal offers a relatively straightforward proposition: an established regulated market, continued online growth and evidence that new operators are still entering. It may lack the headline regulatory changes taking place in Finland or Austria, but its continued digital expansion makes it one of Europe’s more interesting established markets heading into 2027.

Austria Gambling Market: Is the Monopoly Finally Coming to an End?

Finland may not be the only European monopoly market preparing for major change in 2027.

Austria is considering reforms that could open its online casino market to greater private competition.

• Austria’s proposed reforms could fundamentally change its online market, with the Ministry of Finance proposing an open concession procedure for online gambling.
• The proposed system would allow multiple concession holders to operate online, creating greater opportunities for private operators in a market currently dominated by a single federal online gambling concession.
• The timing makes 2027 particularly significant, with the existing federal online gambling concession running until 30 September 2027.
• The proposed framework would therefore represent a major shift in Austria’s market structure, potentially transforming a restricted online casino market into a more competitive one.

Why is Austria attractive in 2027?

Austria’s appeal is similar to Finland’s: the possibility of gaining access to a market that has historically offered limited opportunities for private online casino operators. Unlike Finland, however, Austria’s reforms are still progressing through the legislative process, so plenty remains to be decided. But if the proposed changes go ahead, 2027 could mark the beginning of a significantly more competitive Austrian online gambling market.

Honourable Mentions

Of course, seven markets barely scratch the surface of what is happening across Europe. A few others worth keeping an eye on include:

• Greece: Greece’s online market continues to gather momentum, with online GGR growing 11.75% in 2025, comfortably outpacing the 3.8% growth recorded across land-based gambling. International operators are taking notice too, with Superbet entering the market in 2026.
• Ireland: After years of anticipation, Ireland is entering a new regulatory era. The Gambling Regulatory Authority of Ireland began accepting applications for new online and retail betting licences in February 2026, with the phased rollout of the new framework making 2027 an important year for the market.
• Lithuania: Remote gambling accounted for around 78% of gambling revenue in H1 2026, while total GGR grew 16.8%, making Lithuania one of Europe’s quieter digital growth stories.
• France: The online player base continues to grow, reaching 4.2 million unique players (+7.7%) and 6.1 million online players (+7.1%), although the continued prohibition of online casino limits the opportunity.

Plenty to Watch in 2027

If there’s one thing this list makes clear, it’s that opportunity looks very different from market to market.

For some, 2027 will bring new licences and greater private competition. For others, the story will be continued online growth, regulatory reform or the challenge of operating in an increasingly competitive environment.

Either way, Europe certainly won’t be short of talking points in 2027. And with SBC Summit Europe bringing the industry together in Amsterdam from 19–21 April, there will be plenty to discuss.

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