The Italian iGaming market remains strong, despite a slight decline in January
Posted on: March 17, 2022, 07:07h.
Last update: March 17, 2022, 11:47 a.m.
Online gambling in Italy continues to be very popular with consumers. The country has repeatedly seen high levels of segment revenue and, despite a slight decline, January was no exception.
Italy has had great success with its iGaming market. It has had several months of record activity over the past year. This performance is despite reports that black market games in the country are on the rise.
Still, the regulated market is doing well, according to data from business consultancy Ficom Leisure. Figures from January’s iGaming show the segment hit €324.9 million ($358.8 million) that month, the highest in eight months.
iGaming in Italy remains strong
Online Casino Gaming Gross Revenue (GGR) in January gave the Italian iGaming market the bulk of its success. Segment revenue closed at €171 million ($188.8 million) for the month, representing a 5% year-over-year increase.
It also broke last December’s €165.5 million ($182.76 million), which was a record until then. Moreover, the figure is double what Italy recorded in January 2020. This is a strong signal that iGaming has found its place in the Italian gaming industry.
Although online casinos brought a lot of revenue to Italy in the first month of the year, the total for the whole iGaming market fell. The figure represents a loss of 3.3% compared to the total recorded in January 2021.
PokerStars continues to dominate the space, controlling nearly 10% of the market. Snai, owned by Playtech, is just behind with 8.79%, followed by Sisal, with 7.93%. Flutter Entertainment has just agreed to buy Sisal, so it will be interesting to see if this can help the company increase its market share.
Poker isn’t as interesting anymore
Poker continues to generate a lot of interest in Italy. Online poker revenue in January was €11.4 million ($12.6 million) from tournaments and €7.5 million ($8.28 million) from poker games. money. This was an increase from the December 2021 intake. However, it is a far cry from the amount a year ago.
At that time, COVID-19 was still wreaking havoc on economies and social activities and forcing everyone indoors. Now, with more freedom to be outdoors, online poker has lost some of its shine.
In January of this year, PokerStars dominated the online poker scene. It controlled just over 50% of online tournaments and 42.74% of all cash games.
Online bingo revenues have also increased. He was worth 6.1 million euros ($6.7 million) in January and could soon be worth much more. Efforts to reduce the number of land-based bingo halls could act as a catalyst to increase the growth of the online segment.
Sports betting gets mixed results
Sports betting in Italy remains an interesting alternative. The January GGR for the segment – both retail and online – was €211 million ($233 million). This is an increase over December’s results, but 46.9% less than in January of last year.
Of this figure, online sports betting was the big winner. His GGR was €128.8 million ($142.3 million) in January. While that’s a respectable amount, it’s still significantly lower than the €143.6 million ($158.6 million) a year ago.
Snai was the big winner in sports betting. It controlled 13.7% of the online market, while Sisal was second with 13.3%. Other operators including Bet365, PlanetWin365 and Eurobet each garnered around 10% of the market.
More iGaming growth to come
Overall, Europe is set to see more iGaming growth this year and beyond. H2 Gambling Capital, along with the European Gaming and Betting Association, announced last month that the GGR iGaming 2022 could see annual growth of 19%. Within three years, it will be 26% higher than it was in 2019.
Italy is one of the many countries where there are many opportunities for iGaming growth. The segment, as the numbers show, does not have significant penetration in the broader gaming market. However, due to the continued increases, it is evident that the segment is heading in the right direction.