Bet365 tops Italian online betting rankings for May as market rebounds

Bet365 has topped the rankings for Italy’s online sports betting market in May as the country’s gambling market begins to recover following huge Covid-19 losses.

The Stoke-headquartered betting giant recorded €6.3m in GGR for the month of May, a substantial uptick on April’s figures (€4.6m) but still some way short of revenue levels in March (€8.5m).

Playtech-owned Snaitech recorded the second highest GGR in May with €4.9m, while Sisal (€4.3m), SKS365 (€3.8m) and Eurobet (€3.7m) rounded off the top five and were the only operators to bring in more than €3m for the month.

Italy’s 17 biggest online operators earned their highest combined revenue total since March after April’s figures were slashed by cancelled sports and retail closures due to Covid-19.

Combined revenue reached €30.8m in May, up from €19.4m in April, driven by the return of several top-tier sports including the German Bundesliga and international horseracing.

Bet365 also trounced competition in the turnover rankings for May, raking in €102m on a margin of 6.1%, to beat closest competitor Snaitech (€47.2m) on a margin of 10.4%.

Bet365 accrued 26% of market share as a percentage of turnover in May and 18% of market share as a percentage of GGR.