Speaking to The Irish Independent newspaper, Sharon Bryne Chair of the Irish Bookmakers Association (IBA) has stated that Ireland’s retail betting sector is in dire need of strategy rethink.
Since 2008 reports show that Irish retail betting shops have dropped €1 billion in revenues, representing a 30% industry decline.
Furthermore, recorded wagering has fallen from €3.7 billion to €2.6 billion as almost 500 Irish betting shops have shut their doors.
Although industry analysts would point to consumers engaging in sports betting and gambling services through digital mediums, Bryne states that Irelands retail betting sector should look to modernise its services and appeal.
“The comfortable superstores [large chains] will become leisure centres as opposed to just betting shops.”
“I can see the betting shops becoming entertainment centres instead and that will be in an effort to compete with the online aspect” Bryne commented to The Irish Independent
The Irish Independent further reports that in total licensed betting shops have lost more than half of their share in Irish betting market since 1999. At present retail betting accounts for approximately 40% of the Irish betting industry.