Serbia has emerged as one of Europe’s gambling hotspots, ranking second on the continent in the number of betting shops and casinos per capita – a ubiquity that is reshaping the country’s urban landscape and fiscal outlook.

From high streets in Belgrade to smaller provincial towns, rows of betting outlets and slot machine halls have become a defining feature of the built environment.

In 2024, the Serbian government collected over €177mn in fees from gambling operators, according to data from the Administration for Games of Chance. This figure rises to €320mn when including value-added tax, corporate levies and taxes on player winnings.

The windfall is accompanied by growing unease over the social consequences of gambling addiction, which critics say is being sidelined in the pursuit of fiscal gain.

Amid mounting public pressure, Serbia tightened regulations at the end of 2024. The reforms introduced higher levies and tougher compliance rules for operators, including increased video surveillance and restrictions on food and alcohol sales in gambling establishments.

Tax hikes were among the most significant changes. Slot machine taxes rose from 10% to 15% of net gaming revenue, while online betting and live-streamed games are now taxed at a flat 25%, with a monthly minimum fee of €20,000 – double the previous requirement. 

The government has defended the changes as necessary to reflect the sector’s rapid expansion and to bring its regulation in line with international standards.

But critics argue the measures serve to line the state coffers.

For the Serbian government, gambling has become an increasingly large source of non-tax revenue, providing a financial boost as the country seeks to balance economic development with fiscal responsibility. 

As revenue from the sector rises, critics worry it may become more difficult to introduce or enforce robust measures aimed at preventing gambling addiction or supporting treatment efforts.