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Sports betting revenue holds in Italy after World Cup

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Online betting revenue was slightly down from July's. (Credits: FIFA.com)

August revenue reached the €111.4 million mark, up 34.4% year-on-year, and just short of July’s €114.3 million.

Italy.- The FIFA World Cup boosted sports betting revenues all around the globe and had Italy recording a €114.3 million figure during July. However, far from dropping significantly month-on-month, August revenue (from both retail and online betting) fell just short as it reached €111.4 million (up 34.4% year on year) during the first month without the most important football tournament in the world.

Online wagering revenues were as high as €50 million in July, up 27.8 per cent year-on-year (thanks to the World Cup), led by Bet365 (17.1%), and followed by SK365 (14.9%) and Playtech’s Snaitech (10.5%).

Meanwhile, virtual betting generated revenue of €20.5 million last month, mainly supported by retail outlets, which contributed with €19 million. For the year-to-date, virtual betting revenue totals €170 million, with €157.5 million coming from retail.

Online casino revenue was up 26% year-on-year to €56.5 million in August, led by The Stars Group’s PokerStars (9.7%). Furthermore, online poker saw a decrease of 6.9% in cash games revenue, which reached €4.8 million, while tournament fees were also down 5.9%. PokerStars also led cash games revenue as it claimed a 42.1% share and the tournament take as well, with a 64.8% cut.

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finance Italy sports betting