Online betting revenue grows 60 per cent in Italy

Italy wagering

Credits: thetimes.co.uk

During 2017, Italy recorded a 60 per cent increase in the online betting segment and reached a record €9.9 billion figure.

Italy.- 2017 was a record year for Italian online betting as the segment accounted for more than half of all betting wagers and posted a 60 per cent growth in revenue. Last year, Italian players posted a record €9.9 billion in wagers and topped the €7.5 billion from 2016 and the €5.5 from 2015.

The revenue jump was fueled by December’s 287 per cent rise in betting handle, which came thanks to Italy’s top football league, Serie A, which had matches on the holiday season for the first time ever. Furthermore, the final month of 2017 saw the lowest payout ratio of the whole year, which only reached a 75.5 per cent.

While sports betting revenue for locally-licensed operators reached €1.34 billion (up 44.5 per cent), online betting revenue jumped 59.4 per cent to €555.6 million. On the other hand, British operator Bet365 finished first in overall sports turnover through its Italian site (31.6 per cent) and revenue (17.4 per cent), followed by SKS365’s Planetwin365 (7.5 and 12 per cent) and Snaitech (6.9 and 9.5 per cent) on third place.