The Casino and gaming industry is made up of Casinos, Lotteries, Sports betting & related, and others, out of which ‘others’ accounts for 16% of the market size with $66 billion.
Predicting results and making a bet on the outcome of traditional games is known as other forms of betting. The frequency of the games varies by culture, with most wagers being put on amateur and professional levels of the association including games like horse racing, track cycling, car racing, etc.
Italy is the third biggest market for other forms of betting. The market size of the other betting sector in Italy reached a value of $9.4 billion in 2021, accounting for 14% of the global market size. Italy is the second biggest market in other forms of betting in the Europe region.
Earlier in the year 2020, the COVID-19 outbreak impacted the sector as most of the outdoor facilities were shut down and people were forced to spend most of their time in their homes, thereby with little to no sports taking place for the better part of the year, which in turn meant no betting activities. The business was shut down for most of the year due to the government’s restrictions and lockdowns. As a result of this, in the year 2020, the market value of other forms of betting in Italy saw a de-growth of 13%, accounting for $1.3 billion.
After the restrictions were eased and the other betting sector was witnessing a global recovery in demand, Italy saw a growth of a significant 7% in 2021, accounting for over a $0.6 billion increase in the market size.
The other betting market in Italy grew at a CAGR of negative 1% during the period 2017-2021. This was primarily on account of the restrictions placed in the country. The market in Italy was seeing slow but steady growth before the pandemic hit as the public was shifting towards sports betting and Casinos which saw good growth during the same period.
The major companies in Italy that have a strong presence in ‘Other’ betting include Bet365, Bwin, Betfair, and 888sport among others.
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