Italian sports betting market has suffered in June after posting a strong performance the previous month.
According to the figures released by the Agenzia della Dogane e dei Monopoli (ADM), Italy’s gambling regulator, the revenue from sports betting operations slipped by a significant 26.9 percent year-on-year to €82.5m in June.
The year-on-year decline in June revenue is being attributed to the fact that last year for the same period, the sportsbook featured opening matches of the 2018 FIFA World Cup.
Earlier in May sports betting handles generated €134.1m.
Retail wagering revenue slipped by a massive 38.7 percent year-on-year to €40m. Online wagering was down 10.7 percent to €42.5m.
Top sports betting operators were Bet365, Snaitech, and SKS363, which grossed 21.3 percent, 12.4 percent and 11.2 percent of the revenue share, respectively.
Amongst Online Casinos, PokerStars led the market by maintaining a 10.5 percent market share. Trailing PokerStars is Lottomatica with a 7.9 percent share.
Italy has been working on introducing new regulations related to online gambling advertisements to curb gambling addiction in the country. Online gambling operators in the country are still apprehensive of the new ad restrictions.
The government in Italy wants to restrict gambling operators from sponsoring sports teams as it would defeat the purpose of limiting gambling advertisements. The idea is to make gambling adverts nearly invisible to the local population.