Italy began regulated online gambling at the beginning of 2018, with verve. Their online gambling locations are showing double-digit gains and new records for online casino revenue. Agimeg posted the figures that show the land and online sports betting income is up 15 percent from a year on year analysis. The online portion is up to the highest with 27 percent gains.
Italy has required online casinos operating in their country to be licensed and adequately regulated. It has helped according to the numbers. UK’s Bet365 has the top place for profits earning 10.1 million euro in revenue. Planetwin365 has the second place with 8.5 million euro. Snaitech, Eurobet, and Sisal have all posted high earnings above the 4 million euro mark.
Online casinos have new monthly income records, with an overall 30.4 percent revenue increase. Lottomatica, Pokerstars, and GVC Holding’s Bwin are also in the top five for revenue increases.
Tournament Revenue Not As Grand
Sports betting and overall casino revenue has increased, but one area that Italy sees a little trouble is in the tournament revenue. The online poker market, with regards to tournaments, saw a 1.1 percent decrease in overall income, while the cash games decreased by 9.4 percent. This is where PokerStars has lost some of its top name statuses, but they are still on the radar when it comes to other casino losses. PokerStars fell 10 percent in overall revenue with cash game decline approximately 7 percent down from last year.
888 Holdings is a new company opening its virtual doors to Italian players in 2018. They rank in eighth place in the cash game arena with only 3.16 percent of the profit share. They are in eighth for tournament market share too, with 1.26 percent.
COO Itai Pazner said they are looking closely at 888 in hopes of developing more of the market share. There is also a bid towards a liquidity pact between Italy, Portugal, France, and Spain, which may impact overall revenues. 888 Holdings has licenses in Spain and Italy, so it ranks second when compared to PokerStars in both markets.
France and Spain have started liquidity pooling, and Portugal is going to start very soon. Italy is not as clear about the pact, and whether they intend on sharing profits, so 888 is still waiting to see if they need to change their concept or if they can continue as they are and gain better profits, overall.