bet365 further outlined its plans for European expansion with the launch of bet365.it. The operator will enter the licensed Italian igaming market, offering customer’s casino, poker and betting products on desktop and mobile platforms.
Senior management at the Stoke based operator had been studying the possibilities of entering the Italian igaming market, however the operator’s entry had been held up by concerns regarding gambling taxes and market growth factors.
The Italian online sports betting and poker market has seen a decline in recent years which has affected competitors revenues and growth in the region. Igaming taxes are set to the less favoured turnover tax rather than the more commonly used gross gaming revenue (GGR), however Italian government officials are likely to review its online gambling tax framework in the near future.
It remains unclear what growth strategy the operator will look to undertake in the region. The operator has had mixed results in legalised foreign markets, reporting growth in the Spanish market, but seeing losses of AUS$ 40 million (£25 million) in the Australian igaming market.