Cash poker boosts Snai online numbers
Vertical sees 128% increase in amounts staked, although sports betting and horse betting are both down year-on-year.
Snai has seen amounts wagered in online poker and casino games more than double year-on-year, the Italian operator has revealed in its financial results for the three months ended 30 September.
Wagers of 663m in the third quarter represent a 128% increase on the corresponding period in 2011, with the operator explaining that the introduction of cash poker in Q3 2011 has been a significant factor in the increase.
This is despite the Italian market-at-large seeing online poker GGR fall year-on-year for the first time since cash games were first rolled out.
In August’s market figures, regulator AAMS reported Snai as having a 5.14% market share for tournament poker and 4.7% for cash games, ranking the operator fourth and fifth respectively for the segments, while a casino market share of 7.6% puts it fifth for online casino market share.
It ranks fourth for sports betting with a 9.57% share in August, however sports betting amounts wagered fell by 6.7% year-on-year in Q3 while for horse betting the 295m wagered is equivalent to a 26% decline compared to the third quarter of 2011.
Online revenues were not broken out, however group revenues of 105.7m were down 12% year-on-year while losses before tax widened to 18.1m.
The period also saw Snai launch a new mobile app, Snai Sport, which the company has said: “Has been very well received by players on the market.” The app was developed by Playyoo, the mobile business acquired by Probability in July.