Home » Woes In Italian Betting Industry
Sports Betting

Woes In Italian Betting Industry

Italy

Earnings in the Italian betting industry fell last month, with the drop being linked to the seasonal break of its major tournament I.e. football. Further news hints there might be a bigger fall-out where the government is concerned.

Recent reports published by the nation’s gaming regulatory body, Agenzia delle Dogane e del Monopoli (ADM), shows the sports’ betting industry to have made 95.3 million Euros in July. This shows a steep drop of 16.6% when compared to this time last year.

Given, earnings from the past year were influenced by the FIFA World Cup which ended around July last year, these reports still bring total industry income to be about 909.7 million Euros: a drop of 6.25% from the previous year.

Among betting outfits in the country, Snaltech had the largest profit with 14.9%, with Goldbet coming in a close second having 14.3%. For online betting, Bet365 made away with the highest earnings in the digital space having a 19.1% share despite being sixth overall with 9.5% of total shares. SK365 and Planetwin365 came second and third place respectively.

For some in the gambling industry, earnings have continued to be impressive as the Online Casino market continues showing, recording a total income of 64.4 million euros.

Pokerstars brand, a venture of the Stars Group, had 10.6% of the total earnings to come out as leaders; Lottomatica and Slsal came second and third, with 8.3% and 7.9% respectively.

Betting on virtual sports also did very well, raking in 23.5 million euros after going up by about 12%. In this category, Goldbet was the top earner as it had over 30% of the total revenue. About 17.2% in shares also went to Snal who finished a distant second.

The online poker market didn’t do so well when compared to the rest in the industry as its tournaments category dropped by 11.1% (5.3 million euros), and its cash games market flailing by 6.6% shy of the previous record (4.4 million euros). In both cases, Pokerstars dominated.

Summarily, the betting revenue for the month was good, save the poor performance of the poker market which didn’t make it end all positive.

Betting earnings rose by 2.8%, Casino by 16.9% and virtual betting by 14.8%; with poker categories finishing with -10.4% (cash games) and -4.6% (tournaments) respectively.

CABINET CLAMPDOWN ON GAMBLING ADVERTS AMIDST POLITICAL WOES

In other news, the future of the gambling industry under the nation’s coalition government seems bleak as new laws seek to be passed regarding the prohibition of gambling advertisement.

The leaders of both factions of the coalition government look resolute to enforce this law in their bid to reduce the harms of gambling on the state.

Among those championing the cause for gambling activities in the nation’s society to be heavily curbed include the current Gaming Undersecretary, Allesia Villarosa, and Five-star movement boss, Lugli gi Malo.

However, with the other coalition party (Lega) boss, Matteo Salvini, going against the prime minister, it’s not yet clear how soon these anti-gambling laws will be implemented If the nation is thrown into chaos.

Source: https://calvinayre.com/2019/08/09/business/italy-betting-revenue-falls-govt-teeters/

About the author

Jo Arazi

Jo Arazi

Jo is a seasoned writer and analyst of the cryptocurrency market with several years of experience writing for various blogs and websites worldwide. He has worked with several crypto startups and is a supporter of credible crypto projects worldwide.

Add Comment

Click here to post a comment

The following GDPR rules must be read and accepted:
This form collects your name, email and content so that we can keep track of the comments placed on the website. For more info check our privacy policy where you will get more info on where, how and why we store your data.