Flutter is seeing success in Italy amid early signs of growth in the country’s newly emerging online gaming segment.
In November, control over Europe’s second-largest gaming market was transferred to the Customs and Monopolies Agency (ADM). Following this change, according to Agipro, online casino players wagered €333 million ($364 million) in December, up 18% from €282 million ($318 million) during the same period last year.
Lottomatica retained its market leadership with a 31% share, while Flutter’s Italian brands — Sisal, Snaitech, PokerStars, Tombola, and Betfair — together accounted for an additional 26.5% of the market.
The data underscores Flutter’s commitment to expanding in Italy following the April acquisition of Snaitech for an estimated €2.3 billion ($2.6 billion), with the firm’s significant ambitions likely now focused on overhauling Lottomatica moving into 2026.
Since the acquisition, the group has shown strong performance in both Italy and Turkey, contributing to the growth of its international division.
In its Q3 report, Flutter reported $2.4 billion in international revenue, a 21% increase compared to the same period last year, with the Snaitech acquisition contributing 18 percentage points to this growth.
“Adding Snai to Flutter’s portfolio strengthens the company’s leadership in Italy and creates scale to capitalize on growth opportunities in Europe’s largest regulated market,” the company said in a statement at the time of the acquisition.
Market Kickoff
Early indicators look promising for Italy, which is closely monitoring the opening stages of its new regulatory framework.
The 18% increase in spending in December capped a successful year for the Italian market, with annual spending reaching €3.2 billion ($3.62 billion), up more than 15% from €2.8 billion ($3.17 billion) in 2024.
A key element of the new regulations was the change in licensing conditions and a ban on “skins,” which previously allowed multiple affiliated sites to operate under a single master license.
As a result, several major operators, including Betway, Unibet, and 1xBet, did not apply for a new license.
Nevertheless, 52 licenses from 46 operators remain active in Italy, and familiar brands continue to dominate market share. Leaders include Lottomatica, Flutter, as well as Eurobet (Entain), 888 (Evoke), and StarCasinò (Betsson), all ranking in the top 10 by player spending.
Slots Dominate Italian Online Casinos
In December, over €215 million ($234.3 million) was wagered on slots, representing 65% of total online casino spending. The most popular slot remains Book of Ra by Novomatic, followed by Book of Dead and Shining Crown.
“Virtual gaming rooms” remain Italians’ favorite form of online gaming, ahead of sports betting (€1.7 billion / $1.85 billion) and poker (€900 million / $981 million).
For 2026, further reforms are expected, including a possible return of gambling sponsorship. Regulators are seeking to balance player protection with legal market visibility, as the total advertising ban has fueled a black market estimated at €1 billion ($1.09 billion) per year — a key focus for Italy’s new regulator.
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