Italy reports drop in online sports betting revenue in May
Gaming and betting revenue in Italy fell to 276.4 million euros in May from 292.2 million euros in April, mainly due to a slump in the online sports betting segment.
Online sports betting revenues continued their downward trend, dropping below €100 million for the first time since October 2021. They were €153.5 million in May 2021.
This drastic year-on-year decline is partly explained by the restrictions that were in place in the retail sector in May last year, encouraging more customers to gamble online.
However, retail sportsbooks also suffered a sudden month-on-month decline after a period of volatility, falling from €83.5 million in April to €66.4 million in May.
In contrast to the betting figures, casino revenue increased slightly from €155.1 million to €161.8 million. As a result, gambling revenues have moved sharply away from sports betting, occupying only 35.3% of the market in May, compared to 40.7% in April.
The market share declines that GGR’s four largest online casino operators have experienced over the past month have mostly leveled off.
Snai remained with a 7.3% market share, while Lottomatica and Sisal fell 0.1% to 7.2% and 8.4% market share respectively. Pokerstars deteriorated as its market share fell to 8.5%, erasing almost all of the gains made in recent months when it hit a high of 9.7%.
In sports betting, May was a month of big market share gains for individual companies.
The largest online sports betting engine was Planetwin365, which grew from 9.6% in April to 11.5% market share in May. To find the last time the company had such a high market share, you have to go back to November 2020, when it held 12.0% of the market. This increase has also translated into a greater share of the combined online and retail sports betting market.
This gain in the overall sports betting market for planetWin365 was however overtaken by Goldbet, which now has a market share of 21.3% compared to 15.5% last month. This is the first time a trader has crossed the 20.0% threshold since Bet365 in April 2020.
Pokerstars seems to have lost some of its momentum in May as its market share for cash poker games and tournament games took a hit. Its market share in tournaments fell to 44.7% from 48.8% in April, while its cash game share fell to 41.9% from 43.4% in April.
At the same time, and continuing the trend of big wins in May, E-Play 24 has established a big place in tournament games and cash games. Its tournament games market share increased from 7.8% to 9.8%. In cash games, the increase was even more pronounced since its market share fell from 9.6% in April to 12.5%.