Italian sports betting rankings revealed as Covid-19 blackout halves revenue

Online sports revenue for Italy’s 18 biggest betting firms reduced dramatically between March and April as Covid-19 cancelled the global sporting calendar.

New market figures seen by EGR Intel show online betting revenue for the country’s top sports operators plummeted 57% to just €19.4m for April, down from €45.6m in March.

March revenue had already fallen 43% from the €80m recorded in February, which was the last month to host a normal sports schedule before lockdowns were implemented across the globe.

The country’s retail sector recorded €0 revenue throughout April as all outlets remained closed.

Amid the market-wide slump, bet365 retained its position at the top of the online rankings after reporting €4.6m in gross gaming revenue for April, albeit down from a March figure of €8.5m.

Playtech-owned Snaitech (€2.9m) finished runner up for the third month in a row, while Eurobet (€2m) and Sisal (€2m) overtook SKS365 (€1.8m) to complete the top five.

Stoke-headquartered bet365 accrued a market share percentage of 22% based on GGR, up from 17% last month and rising to 29% when based on turnover.

Bet365 raked in turnover of €73.2m for April on a margin of 6.3%, down from €133.8m in March.

Italian operators will be counting on May to provide an upturn in financial fortunes as top-tier sporting events begin to resume.

The German Bundesliga returned to action last weekend.