Online sports betting was up significantly in Italy for February, but a serious of wins by favorites in football matches kept the bottom line flat.
Sports betting stakes for the month of February rose 90 percent to €227.1 million. The expansion of betting options introduced last year by Italian regulator AAMS and last fall’s launch of Bet365’s Italian site contributed to the increase.
Sportsbook revenue was flat, however, at 20.2 million euros as gamblers had a good month.
Meanwhile, 2014 results for Italian gaming operator SNAI’s 2014 don’t indicate any benefit from the sports betting changes in the country. SNAI’s sports betting turnover fell 10 percent last year to €990 million. SNAI’s online operations accounted for 14 percent of its total sports betting stakes.
Overall, SNAI’s total revenue was up 10 percent to €527.5 million. An increase in installed video lottery terminals helped gaming machine revenue rise 11 percent to 278.5 million euros. Virtual sports betting had a “very significant” impact on SNAI’s bottom line, generating revenue of €44.2 million.
