Italy the second largest betting market in the EU
News on 10 Apr 2017
News on 10 Apr 2017
The Italian online betting market is now the second largest in the European Union according to a news report on Italy Europe, which claims that FY-2016 numbers show a record rise in revenues of 25 percent year-on-year to top Euro 1 billion.
Casino games and sports bet were the principal contributors, with casino games in particular delivering Euro 439 million with a 43 percent market share, while sports betting reached Euro 350 million – up 31 percent.
Online poker continued to languish, with stakes down 10 percent at just Euro 133 million. Other forms of gambling ranging from skill games and bingo to scratchcards and virtual horse racing, contributed Euro 100 million – a 20 percent y-o-y increase for this category.
Italy Europe notes that last year was the first in which online gambling growth surpassed that of entertainment and show business.
The report advises that among 2017 anticipated developments there will be calls for bids on 120 new ‘long distance’ gaming licenses worth around Euro 24 million. A senior Italian analyst, Samuele Fraternali, says:
“This call for bids should redefine the sector’s competitive balance….these professionals will have to adhere to the new privacy law in order to further protect the bettors.”
Fraternali explained that there have been developments in the world of betting on horse races and especially eSports, with the latter category having the potential to draw a younger demographic to the industry with extensive television and live streaming events.
