Official figures show that Italy’s sports betting market dropped in the time leading to the FIFA World Cup.
Pre-World Cup Revenue Drop
November revenue dipped slightly to €322.5m in the lead-up to December’s World Cup, dropping €331.1m in October.
After achieving a volume landmark cracking €300m in September 2022, Italy’s overall iGaming revenue has remained stable.
November’s €322.5m figure represents a 2.6% decline month-on-month, but a healthy 6.0% increase year-on-year.
The biggest drop for the month was sports betting’s decline of 4.3% was the biggest drop for November, with revenue of €126.3m. Other declines were relatively uniform across the board.
Retail Sports Betting
Retail sports betting took a more significant dip of 16.4% month-on-month, dropping from €88.6m in October to €74.1m in November.
Casino revenues were less glaring, at 2.1% from €180.0m to €176.1m.
GGR market shares for individual online casino operators remained relatively stable in November.
Eurobet dropped the most, falling from fifth position to seventh in the Italian market with a market share of 6.1%. Lottomatica/Goldbet held onto pole position with a total market share of 12.7%. A new arrival in the top 20 was Tombola International (1.2% market share for November).
Online Sports Betting Operators
The movement of online sports betting companies in November remained relatively stable. The biggest mover was Bet365, jumping from 9.7% to 11.4% market share. The biggest loser was SKS365, dropping from 10.5% to 9.5% market share. Lottomatica/Goldbet maintained the lead (15.7%), but Sisal came on strong to the second sport at 15.4%.
Retail and Sports Betting
The combined online and retail sports betting market showed the biggest drop from Lottomatica/Goldbet (23.6% to 21.8%), with Snai in second at 15.3% market share for November.
Pokerstars’ 44.96% increase in Italy’s market share for poker tournament play was up from 40.58% in October, for their highest market share since April 2022 when they held 48.75%.
In the cash games field, the increase was less substantial, with Pokerstars’ share up to 40.32% from 39.66% in October. Overall both cash game and tournament market shares remained stable month-to-month, with E-Play 24 seeing the most significant drop from 12.38% market share in cash games in October to 10.21% in November. November also welcomed Microgames as a new entry into the Top 10 for poker cash games, replacing Bgame at #10 with a market share of 1.6%.
Despite the surprising lull before the World Cup, the stability of the Italian market shows positive maturity and sustainability, a good sign for one of Europe’s key markets.