Across Europe, online gambling regulation has become a testing ground where each jurisdiction tries to strike the right balance: protecting consumers, generating tax revenues, and giving operators and affiliates room to operate profitably. Too often, that balance tips in the wrong direction.

A number of European countries have hit roadblocks. Germany, for instance, has been criticised for restrictions so severe that many players migrate to offshore operators. While Italy, with its heavy taxation and near-total advertising bans, has also seen the grey market expand.