It seems that the days of land-based sports betting shops may be coming to an end, as online sports betting in Italy is growing at a tremendous rate
It was a huge summer for sports betting fans. The 2016 European Championship drew in record sports betting numbers in France, and it seems to have made an impact on Italy as well. Recent reports have shown that the majority of these bets were done though an online sportsbooks in Italy prompting many people to ask, is this the end of land-based sports betting shops?
The online sports betting industry in Italy is said to have generated over $309 million in the month of August, much of which came from the Olympic Games.Bet365 is by far the leading internet sportsbook in Italy, taking in over 39% of total online revenue.
Land-based betting is said to have generated only $202.3 million. So far this year, land-based betting shops are up by 17%, while internet sports betting companies are up 32.4%.
How about the rest of the online gambling industry?
Online sports betting in Italy isn’t the only industry bringing in cash. Online casinos are said to have racked in over $34 million in August, up 35% year-on-year. Online poker sites, however, have reported a decline by 10% in cash games, and 3.7% in tournaments. PokerStars continues to dominate the online poker industry in Italy, claiming a 50.9% share of all internet poker revenue in the country.
The Italian gambling news that online sports betting in Italy is growing has to be making the country’s government happy. They have generated an estimated $8.2 billion in online gambling, $4.6 billion in online lotto, and $3.2 billion in internet slots and other such games in 2016 alone.
Online sports betting in Italy has never been stronger, and right now, there seems to be no sign of slowing down.