Sports betting revenue falls in Italy

The sports betting segment in Italy suffered a setback in July, as operators reported a 16.6% decrease in revenues.

Italy.- Sports betting seems to be growing exponentially all over the world, but this time Italy wasn’t part of that movement. The Agenzia delle Dogane e dei Monopoli (ADM), Italy’s gambling regulator, has reported the financial figures from July’s operations, which indicate that the segment didn’t perform as well as expected.

Licensed sports betting operators posted revenues of €95.3 million in July, representing a 16.6% decrease from the same period last year. This includes the final rounds of the FIFA World Cup, which took place in Russia. Turnover also posted a setback of 6.2% year-on-year to €909.7 million.

Snaitech was the operator with the largest share of the overall online betting market with 14.9%, followed by Goldbet with a 14.3.%. However, Bet365 topped the online betting revenue list with 19.1%.

Moreover, online casino revenue increased by 14.6% to €64.4 million. The Stars Group’s PokerStars was the company with the biggest share (10.6%). It was followed by Lottomatica (8.3%) and Sisal (7.9%).

Online poker tournaments were down by 11.1% to €5.3 million. Cash games also posted a revenue fall of 6.6% to €4.4 million. PokerStars was the biggest operator in July with 61.6% of the market in tournaments and 44.1% in cash games. It was the only operator that managed to achieve double-digits in July.