Italian Betting on the Rise

Recent analysis of the Italian betting market suggests the industry is thriving amidst the current global financial crisis.

Italy's Autonomous State Monopolies Administration (AAMS), the national regulatory committee that oversees all gambling related affairs, announced this week that newly issued quarterly statistics showed a 9.2% increase in overall wagers.

The primary benefactors of the latest betting industry boom are lotteries and online poker sites. Notable gaming businesses, Lottomatica, SNAI and Poker.it, each reported considerable increases in recent revenue and web traffic. Lottomatica shares rose nearly 4 percent, thanks both to its successful scratch-card concession and its detachment from horserace betting, a sportsbet business that has been on the wane since early 2008.

Says Sara Paggiole, Poker.it Brand Manager; "AAMS legislation has been very helpful in rewarding those businesses and websites that operate within legal boundaries, especially in the midst of this financial crisis. The study shows Italian betting is increasing; it also shows the recipients of the increase are businesses that operate legally."