Europe’s Top 10 iGaming Markets 2025–2026 by the Peak Blask Index

Top 10 European iGaming Markets

The UK leads the list, followed by Italy and Germany. Each metric represents a separate national record, so the comparison combines results from different times throughout the year.

The leading countries recorded the following peak figures:

1. United Kingdom — 54.39 million, December 2025.
2. Italy — 39.99 million, December 2025.
3. Germany — 26.96 million, July 2026.
4. Bulgaria — 26.78 million, December 2025.
5. Ukraine — 20.05 million, September 2025.
6. Romania — 16.75 million, December 2025.
7. Poland — 13.85 million, July 2026.
8. Greece — 10.90 million, December 2025.
9. Serbia — 9.94 million, November 2025.
10. Spain — 9.87 million, September 2025.

Half of these jurisdictions recorded their strongest results in December, consistent with separate Blask research spanning 107 countries across 2024–2025. That analysis identifies an autumn recovery after the summer holidays, followed by Europe’s usual year-end summit.

Festive spending may partly explain this tendency. In a December 2024 survey of online casino players, 61.6% said they gambled to earn money for Christmas presents.

Ukraine: Decline Amid Tighter Oversight

The country recorded its strongest result at the beginning of the reporting window before entering a pronounced downturn. By August 2026, the Index had fallen 77% to 4.70 million. Revenue decreased from $218.2 million to $97.8 million over the same interval. Across the wider region, however, financial returns proved to be more stable than consumer interest.

The Ukrainian market contraction coincided with stricter supervision after PlayCity assumed regulatory responsibilities in summer 2025. In the authority’s 1st year, more than 4,100 illegal websites were blocked at its request. Since Blask includes brands operating without a local licence, these restrictions may partly explain the downward trajectory.

Germany and Poland: Summer Growth

These jurisdictions were the only members of the top 10 to reach their maximum in July 2026. In Germany, the indicator rose from 11.68 million in February to 26.96 million 5 months later. The publication describes this 2.3-fold increase as the strongest expansion among Europe’s largest markets. Although the report does not identify a specific driver, this timing warrants closer examination of domestic circumstances.

Taken together, these findings support using seasonality as a starting point for campaign planning, while adjusting budgets to domestic conditions. An unexpected surge or slump warrants closer examination of regulatory changes, major sporting events, national holidays, brand launches and advertising expenditure before businesses commit resources.