Swiss Gambling Turnover Drops to CHF3.87bn in 2025

Swiss Gambling Turnover Falls to CHF3.87bn in 2025 – Online Share Rises as Overall Revenue Declines

Key Takeaways

• Total turnover from Swiss cross-state lotteries and sports betting declined 2.4% to CHF3.87 billion in 2025.
• Gross player yield fell 3.7% to CHF1.203 billion, with online channels accounting for 24% of the total.
• Average per capita stakes dropped to CHF424, and theoretical net spend per person decreased to CHF132.
• Gespa maintained enforcement efforts, reviewing 42 criminal rulings and listing 671 blocked domains linked to illegal operators.

Overall Market Performance in 2025

Switzerland’s regulated lottery and sports betting sector recorded a modest contraction in 2025, according to annual statistics published by the Swiss Gambling Supervisory Authority, Gespa. Total operator turnover from cross-state lotteries and sports betting reached CHF3.87 billion, down 2.4% compared to 2024.

Gross player yield, referred to as Bruttospielertrag or BSE, declined by 3.7% year on year to CHF1.203 billion. In 2024, BSE stood at CHF1.25 billion. The decrease affected most product categories within the regulated market.

Based on a resident population of 9,124,300, the average per capita stake on large lotteries and sports betting amounted to CHF424 in 2025, down from CHF438 the previous year. The theoretical net spend per person fell from CHF138 to CHF132.

These figures reflect a broad-based decline in both turnover and consumer spending across the regulated sector.

Online Channel Increases Share Despite Absolute Decline

Online gambling represented 24% of total BSE in 2025, compared to 23% in 2024. While this indicates a growing share for digital channels, the shift was primarily driven by a sharper decline in land-based revenues rather than online expansion.

In absolute terms, online BSE fell by 1.7% nationwide. Land-based BSE dropped more significantly, by 4.3%.

Performance varied between the two main cross-state operators. Swisslos reported a 5.1% decrease in land-based BSE and a 3.2% decline online. Loterie Romande saw land-based BSE fall by 2.9%, while its online BSE increased by 3.4%.

Regionally, Swisslos continued to rely heavily on lotto products and scratchcards, which accounted for 78% of its BSE. Loterie Romande displayed a more diversified structure, with loterie electronique contributing around 12% of its BSE.

Product-Level Results Show Declines Across Segments

Lotto products, including EuroMillions and Swiss Lotto in both retail and online formats, generated CHF1.277 billion in turnover and CHF583.1 million in BSE. This represented a 3.3% decrease compared to 2024.

Scratchcards achieved turnover of CHF810.5 million and BSE of CHF316.7 million, down 2.9% year on year.

Sports betting, excluding horse racing pools, recorded CHF1.174 billion in turnover and CHF223.2 million in BSE, marking a 4.4% reduction. PMU horse racing pools experienced the steepest decline among major segments, with turnover falling 13.7% to CHF103.5 million and BSE dropping 11.9% to CHF27.3 million.

Terminal-based loterie electronique reported CHF507.2 million in turnover and CHF52.3 million in BSE, a 4.7% decrease.

Overall, lottos and scratchcards remained the dominant products, together accounting for approximately 75% of total BSE, unchanged from the previous year. Sports betting maintained around 19% of BSE.

The cross-state skill games market recorded a 2.3% increase in BSE to CHF19.2 million. The number of authorised skill game operators remained stable at 17. However, the number of physical gambling machines declined to 1,406 units from 1,540. Ten online skill game products were reported during the year.

Operator Profits and Public Benefit Allocation

The two main cross-state lottery operators, Swisslos and Loterie Romande, reported combined net profits of CHF814 million in 2025, down 4.7% from CHF854 million in 2024.

Swisslos recorded a 5.7% decline in net profit to CHF562 million. Loterie Romande’s net profit decreased by 2.3% to CHF252 million.

Under Swiss federal regulations, these net profits are distributed by the cantons to support public benefit sectors such as culture, social services and sport. Changes in profitability therefore have a direct impact on the scale of funding available for these areas.

Licensing Activity and Enforcement Measures

During 2025, Gespa authorised 62 new games for Swiss lottery operators and approved 59 game modifications. In the second half of the year, compliance checks were conducted through test purchases at land-based lottery outlets to assess adherence to age restrictions for sports betting.

In the small games segment, authorities granted 1,225 licences for small lotteries, slightly up from 1,172 in 2024. Nine licences for local sports betting were approved across five cantons, authorising total stakes of CHF2.802 million. Small poker tournaments saw 77 licences issued to 36 organisers in 19 cantons, a slight reduction compared to the previous year.

Gespa also continued enforcement actions against illegal gambling. In 2025, the authority reviewed 42 cantonal criminal rulings and supported 25 criminal investigations related to unlawful gambling operations. By the end of the year, a cumulative total of 671 internet domains linked to foreign illegal gambling operators had been added to published blocklists.

Our Assessment

The 2025 data shows a broad decline in turnover, gross player yield and per capita spending across Switzerland’s regulated lottery and sports betting market. While the online channel increased its share of total revenue, this was due to a sharper fall in land-based activity rather than digital growth. Operator profits decreased, affecting the funds distributed for public benefit purposes, while regulatory oversight and enforcement against illegal operators remained active throughout the year.