Italy Second Largest Betting Market in the European Union in 2016 Reports Shows Revenues of €1 Billion
According to a recent report Italy is the second biggest betting market in the European Union. The report claims that full year revenues for 2016 expressed a rise in revenues of about 25% topping out at Euro 1 billion.
The report says that with the anticipated developments that are expected in 2017 there will be around 120 new gaming licenses that will be worth about Euro 24 million.
Senior Italian analyst, Samuele Fraternali commented about the recent reports saying,
“This call for bids should redefine the sector’s competitive balance….these professionals will have to adhere to the new privacy law in order to further protect the bettors.”
Fraternali also expressed that with the new developments the betting on horse races and other betting sectors will draw a bigger crowd especially with the younger demographic of bettors.
The main contributors to the 2016 figures were casino games and sports betting. Casino games supplied a 43% market share with Euro 439 million. Sports betting increased 31% with Euro 350 million. Online poker was down by 10% while other forms of gambling such as bingo, scratch cards and skill games seen a 20% increase year-on-year figures.