Italy’s online gaming sector continues to grow at a double-digit rate, with recent estimates indicating that the market will reach €5 billion in GGR by 2025.
Though not yet validated by ADM, Italy’s Customs and Monopolies Agency, the 2024 outcome of €5 billion represents an 11% year-on-year growth in GGR from the €4.5 billion total in 2023.
GGR growth implies a 12% increase in Italian online gaming wagering, with total turnover rising from €65 billion to €73 billion by 2024.
Significantly, the online gaming area of Italian gambling is expected to generate €3.2 billion (+16%), including online casinos, table games, bingo, and poker.
As of 2025, the Milan-based giant Gruppo Lottomatica has a 29% market share
Lottomatica became public on Borsa Milan in March of 2024, marking a watershed moment. Lottomatica increased its portfolio to include Goldbet, Betflag, Planetwin365, and Totosì, leading to a 9% increase in market share throughout the year.
Lottomatica, on the other hand, faces severe competition from Flutter International, which has a 22.7% market share thanks to its portfolio of brands such as Sisal, PokerStars, Tombola, and Betfair.
Looking ahead to 2025, Flutter hopes to enhance its market share by 7-8% following the €2.3 billion acquisition of Snaitech from Playtech Plc. Flutter is to complete its Italian buyout by June, gaining control of Snaitech’s online platform and 2,047 game points.
Though retail betting is mainly viewed as a competition between Lottomatica and Flutter, analysts feel there is still opportunity for manoeuvre in the growing online betting industry.
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In 2024, overall Gross Gaming Revenue (GGR) from online betting, comprising sports, virtual, and horse racing, increased by 11% to €1.843 billion, while total turnover increased by 12% to €16 billion.
Lottomatica Group led the market, posting €574 million in GGR (+18%) and holding a 31.1% market share. Flutter followed closely behind with an 18% market share, which is likely to increase significantly after its acquisition of Snaitech (12.2%) in mid-2025.
Meanwhile, Entain’s market share fell from 11.1% to 10.3% as competition rose. Bet365 had the greatest turnover, topping €3 billion, and a GGR of €177 million.
Italy’s online gaming industry is prepared for a regulatory transition, with a new licensing process about to begin. Bids for the €7 million concessions will be accepted from March 31 to May 31, with the ADM expecting to award licences in July.
The procedure must be completed by September 17. However, continuing legal processes may have an impact on the process, as the Lazio Regional Administrative Court is scheduled to rule on the top-ranked online agencies list in the coming weeks. Additionally, the court will hear appeals to stop the online bidding procedure on May 7.
As legislative reforms occur and competition heats up, the Italian online betting industry is poised for additional transformation in the coming months.
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