Italy’s online gambling market generated approximately €5.1 billion in gross gaming revenue in 2025, crossing a threshold that confirms the country’s position as Europe’s largest regulated gambling market. Online casino drove the growth, rising 15.8% to €3.2 billion, while sports betting contracted to an estimated €1.7 billion following structural disruption from a sweeping licensing overhaul that took effect on 13 November 2025.
Total Market 2024: Europe’s Largest Regulated Market
According to ADM’s Bilancio di Esercizio 2024, the Italian gambling market delivered total stakes of €157.45 billion in 2024, generating €21.577 billion in GGR. State tax revenue reached €11.6 billion. Italy overtook the United Kingdom in 2024 to become Europe’s largest regulated gambling market by GGR.
| Metric | 2024 | YoY Change |
|---|---|---|
| Total Stakes (Raccolta) | €157.45B | +6.59% |
| Player Winnings (Vincite) | €135.87B | N/A |
| GGR / Spesa | €21.577B | +4.38% |
| State Tax Revenue (Erario) | €11.6B | -0.58% |
| Payout Ratio | 86.3% | N/A |
Source: ADM Bilancio di Esercizio 2024
The slight decline in tax revenue despite growing GGR reflects a structural shift in the product mix toward online verticals, which carry lower effective tax rates than machine gaming. The PREU (single gaming tax on machines) generated €5.2 billion in 2024, approximately €1.5 billion below its 2019 level, directly tied to the long-running contraction of the land-based slot market.
Online vs Land-Based Split
ADM does not publish an official online versus land-based breakdown in any currently available public document for 2024. The figures below are sourced from the CGIA di Mestre / As.Tro Report 2025, presented in October at Palazzo Wedekind in Rome, which derives its analysis from ADM raw statistics.
| Channel | Raccolta | GGR (Spesa) | Tax Revenue |
|---|---|---|---|
| Online | €92B | €5.0B | €1.1B |
| Land-Based | €65B | €16.5B | €10.5B (est.) |
| Total | €157B | €21.5B | €11.6B |
Source: CGIA di Mestre / As.Tro Report 2025 (based on ADM data)
Online gambling accounted for 58.6% of total stakes but only 23.3% of GGR. The gap reflects the much higher payout ratios of online products: 94.6% online versus 74.6% for land-based. In revenue terms, land-based operations still generate over three-quarters of actual player spending. Between 2019 and 2024, online gambling grew by 153% while retail gaming declined 12% from pre-pandemic levels. Gaming machine takings fell to €32.6 billion in 2024, down 3.3% on 2023 and 30% below 2019 figures.
Online Segment: 2025 Full Year
Based on ADM monthly disclosures, the Italian online gambling market delivered the following full-year 2025 performance across its main verticals:
| Vertical | 2024 GGR | 2025 GGR | YoY Change |
|---|---|---|---|
| Online Casino | €2.8B | €3.2B | +15.8% |
| Online Sports Betting | ~€1.8B | €1.7B | -5.6% (est.) |
| Poker | ~€180M | €190M | +5.6% |
| Total Online GGR | ~€5.0B | ~€5.1B | ~+2% (est.) |
Source: ADM monthly disclosures via AgiproNews
Online casino remained Italy’s dominant digital vertical. December 2025 GGR reached €333.7 million, an 18.4% year-on-year increase from €282 million in December 2024. Slots generated over €215 million in December alone, representing approximately 65% of casino spending. Pragmatic Play led supplier distribution across the market.
Sports betting faced heavier pressure. December 2025 betting GGR fell to €126.6 million, down 18.8% year-on-year from €155.9 million. Stakes declined a more modest 4% to €1.2 billion, indicating margin compression during platform migration rather than a fundamental demand shift. The full-year decline to approximately €1.7 billion was concentrated in Q4, coinciding with the November licence transition.
Market Share: December 2025
Lottomatica held 31.14% of online casino GGR in December 2025, maintaining the dominant position it built through its SKS365 acquisition. Flutter Entertainment, operating through Sisal and the acquired Snaitech brands, held a combined casino share of approximately 26.5% and a combined betting share of approximately 29.5%.
| Operator | Casino Share | Betting Share |
|---|---|---|
| Lottomatica | 31.14% | 30.8% |
| Sisal (Flutter) | 12.10% | 18.3% |
| Snaitech (Flutter) | N/A | 11.2% |
| Flutter Combined | ~26.5% | ~29.5% |
| Eurobet (Entain) | Top tier | Stable |
| 888 (Evoke) | Top tier | N/A |
| StarCasino (Betsson) | Top tier | N/A |
Source: ADM monthly disclosures via AgiproNews
Flutter’s €2.3 billion acquisition of Snaitech, completed in 2024, created the only credible challenger to Lottomatica’s casino dominance. Both groups secured the maximum five licence slots in the new tender. The combined positions of these two operators account for over half of the online casino market by GGR.
Regulatory Transformation: New Licensing Regime
Legislative Decree No. 41/2024 launched the most significant overhaul of Italian online gambling regulation since the sector opened. The new framework, effective 13 November 2025, compressed the operator pool from over 80 licensees to 46, eliminated the skin model that had allowed dozens of consumer-facing brands under a single licence, and raised the direct cost of market entry by a factor of 35.
The ADM tender ran from 31 March to 30 May 2025. All 46 applicants submitted 52 applications and were admitted to Stage 2 on 17 September 2025. The tender generated €365 million in direct licence revenue, exceeding the Ministry of Economy’s target range of €300 to €350 million. The 52 new licences went live on 13 November 2025.
| Parameter | Previous Regime | New Regime (2025+) |
|---|---|---|
| Licence Fee | €200,000 | €7 million |
| Licence Duration | Varied | 9 years |
| Max Licences | Unlimited (93 applied) | 50 (52 awarded to 46 operators) |
| Skins / Multi-domain | Permitted | Banned (1 domain per licence) |
| Max Licences per Group | No cap | 5 |
| Casino GGR Tax | ~25% | 25.5% |
| Betting GGR Tax | ~24% | 24.5% |
| Annual GGR Fee | N/A | 3% of GGR |
| Responsible Gambling Contribution | Voluntary | 0.2% of GGR (capped at €1M) |
Source: ADM; Legislative Decree No. 41/2024
Operators that chose not to renew their Italian licences include Super Group’s Betway and Kindred Group’s Unibet. Betclic and Giochi24 also exited. The number of active online domains dropped from over 400 to 52. Industry analysts project that 30 to 35 companies will control the regulated market within two to three years, with four to five major operators accounting for approximately 80% of online GGR.
Online Traffic: Italy’s Top Gambling Domains
SemRush traffic data for Italy’s licensed online gambling domains shows Sisal leading on raw visits, with betflag.it posting the strongest year-on-year growth among the top ten operators. The data reflects traffic in the period following the November licensing transition.
| Domain | Visits | Mobile Share | YoY |
|---|---|---|---|
| sisal.it | 23.16M | 63.77% | ↑14.92% |
| betflag.it | 8.63M | 74.13% | ↑93.4% |
| bet365.it | 7.93M | 73.27% | ↓9% |
| 888casino.it | 7.21M | 62.72% | ↓16.75% |
| snai.it | 6.93M | 72.88% | ↓4.4% |
| lottomatica.it | 6.41M | 73.59% | ↓10.58% |
| goldbet.it | 6.37M | 73.76% | ↑5.96% |
| planetwin365.it | 3.81M | 74.61% | ↓10.35% |
| starcasino.it | 3.23M | 54.62% | ↑73.23% |
| eurobet.it | 3.23M | 53.72% | ↓18.18% |
| pokerstars.it | 1.84M | 67.51% | ↑63.79% |
| giocaonlinesrl.it | 1.68M | 43.32% | ↓14.12% |
| betfair.it | 1.54M | 48.25% | ↓8.29% |
| lotto-italia.it | 1.38M | 74.48% | ↑14.96% |
| giocodigitale.it | 1.29M | 66.51% | ↓14.61% |
| bwin.it | 1.16M | 73.20% | ↓24.33% |
| mylotteries.it | 1.06M | 96.34% | ↑24.22% |
Source: SemRush
The traffic data reveals a split between operators gaining and losing digital share as the market consolidates. Sisal’s 23.16 million visits and 14.92% growth reflect Flutter’s investment in the brand following its Snaitech integration. Betflag’s 93.4% growth and StarCasino’s 73.23% increase suggest aggressive acquisition strategies among mid-tier operators. Several incumbents posted material declines: bwin.it fell 24.33%, eurobet.it dropped 18.18%, and 888casino.it declined 16.75%. Mobile traffic dominates the market, with all but a handful of domains routing over 60% of visits through mobile devices. Mylotteries.it recorded the highest mobile share at 96.34%.
The traffic divergence largely mirrors the GGR market share picture: operators with strong brand investment and product diversification are growing digital audiences, while those relying on legacy positioning or undergoing ownership transitions are losing ground.
ADM Enforcement: 2024
ADM conducted 28,031 inspections in 2024, checked 19,210 gaming establishments, and blocked 721 illegal websites. Underage gambling checks totalled 13,004, with a 10.4% positivity rate. A total of 378 individuals were reported to the Guardia di Finanza and 345 clandestine betting points were uncovered. The European Gaming and Betting Association estimates the Italian black market processes approximately €25 billion in wagers annually, a figure the new licensing regime is expected to reduce by increasing the visibility and reach of licensed operators.
Italy’s 2018 Dignity Decree, which imposed a blanket ban on gambling advertising and sponsorship, remains in force but is under active review. The Ministry of Economy and Finance is developing a replacement advertising code. Industry associations have argued the ban has structurally advantaged unlicensed operators by limiting licensed brands’ ability to compete for audience attention.
2024 vs 2025: At a Glance
| Metric | 2024 | 2025 | Trend |
|---|---|---|---|
| Total Market GGR | €21.577B | ~€22B+ (est.) | ↑ |
| Online Casino GGR | €2.8B | €3.2B | ↑ +15.8% |
| Online Betting GGR | ~€1.8B | €1.7B | ↓ ~-5.6% |
| Online Poker GGR | ~€180M | €190M | ↑ +5.6% |
| Total Online GGR | ~€5.0B | ~€5.1B | ↑ ~+2% |
| Licensed Online Operators | 80+ | 46 | ↓ -42.5% |
| Active Online Domains | 400+ | 52 | ↓ -87% |
| Licence Fee | €200K (legacy) | €7M | ↑ 35x |
| Casino GGR Tax | ~25% | 25.5% | ↑ |
| Betting GGR Tax | ~24% | 24.5% | ↑ |
| Illegal Sites Blocked (2024) | 721 | N/A | — |
| Top Casino Operator | Lottomatica | Lottomatica (31.1%) | → |
Source: ADM Bilancio di Esercizio 2024; ADM monthly disclosures via AgiproNews; Legislative Decree No. 41/2024
Outlook
Phase 2 of Italy’s gambling reform, covering land-based operations, has been pushed back from late 2025 to mid-2026. The planned changes include unifying the licensing scheme, introducing strict location rules, limiting cash deposits to €100 per week, and mandating ID and self-exclusion systems across all land-based venues. Industry projections suggest the fully implemented new online regime could generate over €5.5 billion in annual online GGR from 2026 onward, supported by market consolidation and the elimination of skin-based operators. Italy’s fiscal authorities forecast that the online sector alone could generate up to €1.5 billion in state income per year once the new licensing framework reaches its operating steady state, according to projections cited by the Ministry of Economy and Finance’s Treasury Summary Account.
For a broader view of how Italy compares within the European regulated gambling market, Europe’s total GGR reached €123.4 billion in 2024.
Source: ADM (Agenzia delle Dogane e dei Monopoli); CGIA di Mestre / As.Tro Report 2025; Legislative Decree No. 41/2024; Italian Ministry of Economy and Finance; SemRush
