German study estimates unlicensed platforms take 22.97% of online gambling losses
A study of Germany’s online gambling market estimates that unlicensed platforms accounted for 22.97% of losses and 22.38% of wagers, based on survey data. The authors estimated the unlicensed segment’s gross gaming revenue at about €466m in 2023 and €547m in 2024, while cautioning that these figures are model-based and the survey was non-representative.
The estimates give operators and regulators measures of the unlicensed market, with substantial methodological limitations.