Irish Gambling Revenue Grows Despite Regulatory Uncertainty
While the global gambling industry has seen significant changes in the last 12 months, few regions have seen similar shakeups to that of the Republic of Ireland. A new regulatory body is in force, which has asked for operators to signal their licensing interest.
The Gambling Regulation Authority of Ireland (GRAI) will also look into changes in the law, along with some significant moves in regards to the promotion of responsible play. It’s an uncertain time, but against that fluid backdrop, the Irish gambling sector continues to perform well.
End of Year Results
Figures released at the end of 2024 revealed that many Irish casino operators saw their revenue grow across the twelve months. Overall, gross income generated by the industry rose last year, and the increase since 2020 stands at around 0.2 billion Euros.
The figures also show a clear shift in the way in which customers place their bets and play their casino games. While the offline gambling sector dropped by around 0.2 billion Euros in the four years from 2020, online wagering increased by 0.4 billion Euros.
Projections for 2025 onwards are largely positive, but the industry faces a significant number of challenges in the immediate future.
Regulatory Changes
In 2024, the Gambling Regulation Authority was established as the new organisation overseeing the industry in the Irish Republic. As part of its sweeping set of changes, the GRAI imposed restrictions on maximum stakes, while operators can no longer show TV adverts between certain time parameters.
The authority has also embarked on a lengthy licensing process. Firms initially expressed an interest in providing services to Irish customers before the GRAI could consider each application. It was hoped that the process would be complete before the end of 2025, but recent reports suggest that this may now be pushed back to next year.
The uncertainty over the timeframe could have an effect on gambling revenue. For now, those projections suggest annual growth of 2% between 2026 and 2029, so it remains to be seen whether any delays will have a negative impact.
Knock On Effects
While there will always be mixed views on the benefits of the gambling industry, there’s no doubt that it’s become an important contributor to Ireland’s national economy. While those revenue figures have been consistently strong, the sector also helps to boost employment figures around the country.
Statistics show that over 6,000 people are employed in the gambling industry around Ireland. There is much scope among operators, meaning that there are diverse roles available in areas such as customer support, tech, games development, trading and much more.
Moving into the second half of 2025 and beyond, the Irish gambling industry faces a number of challenges. New legislation was necessary in order to promote responsible play, but the delay in licensing could potentially lead to a slowdown in revenue. It is hoped that the rollout will be complete before the end of the year in order to keep any impact to a minimum.
Once the GRAI has everything in place and customers can access fully licensed operators, the future for the gambling sector will once again look bright.