Recipe for Success: A Record-Breaking November Recognizes the iGaming Era in Italy
Published January 9, 2021 by Lee R
November's quarter-billion mark for GGR suggests the Italian market has matured.
Italy has posted record-breaking GGR for November.
The iGaming Ascendance
In a development which Italy can only thank iGaming for, the arduous journey towards regulation predating contemporary Covid challenges has been rewarded to the tune of a quarter billion dollars.
Demand Was There
The country with a historical passion for games of chance and betting laid the foundation for the regulated iGaming in 2006, the first year of regulated gambling in Italy.
Opening to Foreign Operators
The legalisation of games of skill and sports betting welcomed offshore operators into the native Italian market by offering license opportunities to land-based operators from outside the country for the first time.
Technology Drives Growth
The rise of technology enabled iGaming to diversify the landscape with an electronic option for widespread play, while encountering resistance from local stakeholders concerned about the ease of access that players had to mobile and online gaming.
Integrating EU Goals
Subsequent regulatory debates and ongoing blocks on online play within Italy clashed with greater European commission free trade goals from 2006 on.
EU concerns over Italy blocking scores of EU businesses morphed in the opening of the Italian market in 2010 to international online casino operators approved by the Amministrazione Autonoma dei Monopoli di Stato AAMS.
The Newest Benchmark
The turbulence of those growing years was unofficially over with the realization of Italy's regulated gambling sector of over €250 million in monthly revenue—with iGaming in large part to thank.
Vertical Showings
The vertical breakdown for November's GGR of €258.9 million was led by online casino and slots (€123.6 million). Second was the online sports betting vertical (€111 million); followed by poker tournaments (€11.2 million) in third; poker cash games in fourth (€7.2 million); and bingo in fifth (€5.8 million).
Skyrocketing Growth
The year-on-year growth of the sector is of particular note as well, with a three figure jump from November 2019 (€146.2), which was the best improvement by percentage since November GGR jumped from €79.3 million in 2016 to €125.4 million in 2017.
Outlook
The organisation and streamlining of the Italian market has to be seen at this point as one of the great market achievements for any EU jurisdiction, with the quarter billion plateau an undeniable benchmark for long-term sustainability and success.
