Italian sports betting rankings revealed as Covid-19 slashes revenues
Betting operators braced for dramatic April downturn as online sports revenue takes €34.4m hit between February and March
Online sports revenue for Italy’s 18 biggest betting operators almost halved between February and March as Covid-19 decimated the global sporting calendar.
Market figures seen by EGR Intel show online betting revenue for the country’s top operators dropped 43% to just €45.6m for March, down from €80m in the month prior.
The negative impact of coronavirus was felt much harder in the retail sector with betting outlets closed country wide, as sports revenue plummeted from €98.6m in February to just €25.9m for March, representing a monthly decrease of 74%.
Italy’s largest bricks-and-mortar operator Goldbet saw March retail revenue sink 75%, as did Playtech’s Snaitech business.
Combined online and retail sports betting revenue for Italy’s 14 biggest firms fell by 66% monthly, while April figures are expected to be far worse.
Despite the market-wide downturn, bet365 retained its spot at the top of the online rankings after raking in €8.5m gross gaming revenue for March.
Snaitech (€7m) came in runner up for the second month in a row, while SKS365 (€5.5m), Sisal (€5.3m) and Eurobet (€4.7m) rounded off the top five.
Stoke-headquartered bet365 accrued a market share percentage of 17% based on GGR, rising to 28% when based on turnover, raking in €133.8m on a margin of 6.34%.