Online Gambling in Serbia
Serbia has a long history and an evolving regulatory framework, carving a niche in the European iGaming industry. From introducing casinos in 1964 to recent regulations on online gambling, the Serbian market offers unique opportunities and challenges for operators and investors.
Legal Environment
The current regulatory framework was established in 2020, incorporating general rules for advertising, responsible gambling, and anti-money laundering (AML) policies. The Gambling Control Authority (GCA) has issued a rulebook to manage gambling advertisements, ensuring they do not target minors and include warnings about gambling addiction.
Several government agencies manage Serbia's gambling industry:
Gambling Control Authority (GCA): Handles licensing, regulation enforcement, and AML compliance. It also assesses prizes, monitors live TV lottery draws, and oversees staff training.
Ministry of Finance, Tax Administration: This department ensures compliance with tax laws, audits financial transactions, and supervises timely tax payments.
Ministry of Defence: This department is the only one involved in this work, responsible for inspecting gaming equipment and software in certified laboratories to ensure their integrity.
Companies must be registered within Serbia or the European Economic Area (EEA) to obtain a license. However, Serbia's licensing process is straightforward and investor-friendly, making it an attractive market for operators.
Main licensing requirements include:
Minimum capital of EUR 250,000
EUR 300,000 in bank deposits or guarantees
Daily risk cash deposit of EUR 10,000
Fees:
Land-based casino license: EUR 500,000 per year
Online casino license: EUR 2,500 per month
Notably, the Serbian government allocates 40% of gambling revenues to the Red Cross, highlighting Serbia's commitment to social responsibility.
It is worth mentioning that Serbia also has a Gambling Operators Association (AGOS), dedicated to responsible gambling and combating unfair gambling practices. The association's work ensures that iGaming remains a healthy and socially responsible form of entertainment. Recently, EvenBet Gaming also joined AGOS.
Gaming Preferences of Serbian Players
Serbia's iGaming market is vibrant, reflecting the country's love for sports and growing interest in online gambling. From football betting to poker tournaments, each vertical offers unique opportunities for operators and investors looking to capitalize on this evolving market.
1. Sports Betting in Serbia
Serbian passion for sports has fueled the rise of sports betting. Football, in particular, dominates the betting scene with its deep cultural significance and historical achievements. The 2006 World Cup was a defining moment for Serbian football when the Serbia and Montenegro national team defeated favorites like Spain, solidifying their status in the sports world.
Basketball also has a large following, thanks to the continued success of the Serbian national team. Recent milestones include reaching the semi-finals of the 2024 Paris Olympics and winning multiple FIBA European Basketball Championship medals. These achievements maintain high interest in basketball betting.
About 20 companies operate around 1,300 sports betting shops, making sports betting not just an online phenomenon but a widespread physical activity. This extensive network complements strong online platforms, ensuring bettors can seamlessly access their favorite games.
2. Poker in Serbia
Poker holds a significant place in Serbia, thanks to an active and passionate community. In 2010, Poker Saves Srbije joined the International Poker Federation, marking a turning point that allowed Serbian players to participate in the global poker ecosystem.
Match Poker tournaments are regularly held nationwide, providing opportunities for players to hone their skills and foster camaraderie. Despite its popularity, the Serbian government enforces strict regulations. Players are prohibited from participating in offshore or unlicensed platforms, and the government actively blacklists illegal sites to protect the market's integrity.
3. Casino Games in Serbia
While casino games have a loyal audience in Serbia, they remain a secondary component of the dominant sports betting market. This preference aligns with the country's active sports culture, where people not only engage in various sports activities but also enjoy betting on the events they follow. Football and basketball remain the main focus of these bets.
The casino industry is supported by both online platforms and physical casinos, offering players a variety of options to suit their preferences. However, the industry is still overshadowed by the fervor of sports betting.
4. Horse Racing
Horse racing occupies a niche position in Serbia's iGaming market. However, it is exclusively managed by the state-owned Konjički Savez Srbije.
Current Trends and Challenges
In recent years, Serbia's iGaming market has seen mixed developments. In the first half of 2024, the market size decreased by 9.9% year-on-year, with a 6.6% drop in new players. However, operators' revenue grew by 3.6%, indicating an increase in the monetization capabilities of existing players.
Despite current challenges, Serbia's iGaming industry remains promising. According to Statista, online gambling revenue is expected to reach USD 155 million by 2025 and grow to USD 186 million by 2029. This growth is likely driven by regulatory improvements, enhanced player experiences, and strategic innovations by operators.
