Published on September 12th, 2017 | by admin0
Astonishing growth of Italy’s online sports betting industry outpaces Retail Wagers:
The online sports betting industry of Italy produced an astonishing spectacle when the revenues for the month of August doubled, swiftly outpacing its retail rival.
According to the official figures published by the Italian gaming news agency Agimeg, the overall sports revenue for August was slightly shy of €83 million which signifies a hike of 89 percent if compared to the same month of last year.
Retail betting revenue also improved significantly by 74.7% to an amount of €43.8 million but the highlight was the show stopping growth of the online betting industry by a whopping 108 percent, i.e. €39m. Taking the whole year in account till date, the revenue for retail wagering goes up by 7.6% where as online betting rules the charts with a hike of 34%.
The Italian subsidiary of Bet365 maintained its dominance in the online betting industry as it still occupies 18 percent of the market share with Planetwin365 at a decent 16 percent trying to give it a tougher competition than anticipated. Planetwin365 is hoping to seize the gaps and go for the kill by means of greater brand exposure. Their official deal with Serie A football sensation Napoli as their official betting partner has made a lot of heads turn towards them.
Talking about the online casino operator in Italy, they too have had their share of fun due to the healthy growth in the month of August. They have reported a revenue of €44.8 million which is an impressive 30.6% considering year-on-year improvement. Lottomatica still owns the top spot among online casinos with a 9 percent of market’s share and was placed slightly above PokerStars.it who own 8.93 percent of the market. And not only that, Sisal seems to be following them pretty closely at 8.81 percent as this is a competition which can go in anyone’s favor and it is going to be very interesting how things will turn out to be.
Bwin, a brand owned by GVC Holdings has a share of 6.36 percent in the market which has allowed the company to jumped three spots, getting it to fourth ranking. Bwin was facing losses previously and was ranked eighth but has bounced backed strongly under GVC.
An industry that did not enjoy a fortune like the online casinos in the month of August was online poker cash game as it saw a dip of 3.8 percent in its revenues. PokerStars still remained on top by claiming a huge chunk of the market at 45.9% followed by Lottomatica which lagged very far behind at 7.1 percent.
Italy already has the second largest regulated online market in the landmass of Europe. Though things are about to get even more competitive as the government is ready to dispatch new online licenses later in this month. They are still working on it and the details are yet to be finalised but if the rumours surrounding the matter are to be believed, around 120 licenses will be provided at concession and will cost only €220k a piece. This is a big news if true as it will surely attract more people to the fray.