Italian online market grows 21% in Q1

Italy’s online betting and gaming market continues to go from strength to strength after recording a 21% rise in gross gaming revenues (GGR) during the first three months of 2016.

Total GGR for the quarter ended 31 March was ?267m, up from ?210m during the comparative 2015 period, with the growth coming on the back of a 13% increase in 2015 GGR to ?821m.

Casino games continued to lead the way in Q1, with the vertical contributing ?106m of GGR at a year-on-year growth rate of 38%.

Sportsbook also enjoyed a strong period with revenues up 42% to ?96m, in most part down to industry friendly sporting results in January, a month which saw revenues jump 97% to ?36m.

Poker as a whole continued its downward trend, although tournament play was boosted by a strong March which contributed to an overall 6.6% rise in quarterly revenues to ?22.4m.

However, the rise in tournament poker was more than wiped out by a decline in cash games which fell by 18% to ?20.7m.

Elsewhere, bingo was up 2.9% to ?7.5m, virtual sports up 8.2% to ?2.6m and betting exchange up 40% to ?875,000.

DLA Piper partner and gaming lawyer Giulio Coraggio said recent liberalisation of the gaming market, coupled with a new licensing process this summer, would lead to further market growth during the year.

“It’s a very exciting time in the Italian gaming market with the recent and upcoming regulatory changes accompanied with the new licences that might lead to an earthquake in the market,” Coraggio said.

In January the tax on sportsbooks changed from a prohibitive turnover-based levy to one on revenues while as many as 80 gaming licences could be awarded by the regulator by 31 July.