Weak month for betting sees Italian igaming revenue dip in October – Finance
Gaming revenue in Italy was down 1.2% year-on-year in October, as a strong performance from online casinos was offset by a lower contribution from sports betting.
Online revenue for the month was €243.9 million, slightly behind October 2020, but also down 11.9% from the September 2021 total.
The majority of that total came from online casinos, which accounted for 148.8 million euros, the strongest month since May this year. PokerStars Casino continued to lead the vertical, although its market share fell slightly from September to 9.2%.
The same was true for Sisal, which maintained its second place in the vertical market at 8.8%, but also saw its market share decline. Snai, despite growing its revenue share to 8.0%, remained third.
While casino revenue increased year-on-year, the contribution from sports betting across all channels fell significantly, to €117.9 million. This represents a decrease of 51.6% compared to the previous year and a decrease of 37.1% compared to September 2021.
This could be attributed to online betting, which recorded revenues of €76.1 million, the second lowest total of 2021 so far. In the channel, the top four operators by market share were all companies with a retail presence. Playtech’s Snaitech, with 15.2%, led the way, followed by Sisal (14.4%) and SKS365 (11.9%).
Retail bets also suffered a significant drop during the month, falling from 67.9 million euros in September – the highest of the year – to 41.8 million euros. Goldbet, which ranked third in online market share, led the way in retail with 23.1% market share. Snaitech followed at 18.8%, then Eurobet at 14.9%.
For poker, tournaments and cash games had a good month. Tournament rake of €8.4m marked the product’s best month since April, while gambling revenue of €5.6m was up 5.0% year-on-year on the other. For both, PokerStars remained the market leader by far – it accounted for 46.4% of tournament rake and 43.3% of gambling revenue.
Scroll down for the full dashboard, provided by Ficom Leisure.