Sports betting revenue up in Italy in 2018

Sports betting revenue increased in Italy in 2018. Credits: idealista.it

The sports betting market from Italy registered a 10.8% increase in revenues when compared to 2017.

Italy.- According to figures released on Monday by the regulatory body from Italy, Agenzia delle Dogane e dei Monopoli (ADM), the local sports betting industry generated €1.4 billion in revenue in 2018, which represents a 10.8% increase over 2017’s numbers.

ADM revealed that betting turnover for last year reached the €10..9 billion mark, approximately €1 billion higher than 2017. The land-based sector also increased its revenue by 7% in 2018 to €840 million.

While online betting registered a 16% increase over 2017 to €643 million, it is a shy growth when compared to 2017’s total increase figure of 44.5%, and in a year that didn’t have major sports tournaments such as the FIFA World Cup.

December’s results didn’t help the full number for 2018, as sports revenue decreased 55% year-on-year to €96.4 million. Both the land-based and online verticals experienced a decline, the latter to €47 million or a 43% decrease.

On the other hand, online casino reported an increase of 20.3% in revenues in December to €70.5 million, which is a new record for the market. The total for 2018 was €710 million, approximately 25% higher than 2017.

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