Key Moments:
- December 2025 ended with online casino spending at €333.7m, marking an 18.4% increase year-on-year
- Lottomatica captured 31.14% of online casino market share in December, with Sisal at 12.10%
- Online sports betting spend in December was €126.6m, down 18.8% compared to December 2024
New Licensing Structure Alters Market Dynamics
Italy began its first full month under a restructured online gambling regime in December 2025. The overhauled framework, introduced in mid-November, reduced the active operator pool and imposed stricter regulations on online branding. These changes have immediately impacted both the online casino and sports betting segments as stakeholders adapt to new requirements.
Online Casino Performance Strengthens
Operator figures from December illustrate continued growth in the online casino sector, with player spend reaching €333.7m. This reflects an 18.4% jump compared to the prior year. Market leaders remained unchanged: Lottomatica dominated with a 31.14% market share in casino spend, while Sisal followed at 12.10%. A handful of mid-tier brands expanded their presence, suggesting some opportunity for movement during transitional periods, even as the leading operators reinforced their positions.
| Operator | Online Casino Market Share (%) |
|---|---|
| Lottomatica | 31.14 |
| Sisal | 12.10 |
Sports Betting Faces a Reset
While the online casino segment continued to expand, sports betting experienced a contraction during the same period. December’s online betting spend reached €126.6m, marking an 18.8% decrease from December 2024. Total stakes surpassed €1.2bn, representing a 4% year-on-year decline. The relatively stable stakes but sharper drop in spend suggest that the segment grappled with compressed margins, a typical challenge when markets transition to new platforms and operators undertake player reactivation efforts.
Tighter Rules and Market Consolidation
The updated licensing system, effective from 13 November 2025, saw 52 licenses issued among 46 operators. Regulations now grant each operator only one domain per license, resulting in the closure of hundreds of previously affiliated sites and effectively ending the use of multiple skins. Each license came with a €7 million price tag, generating €364 million for the state at launch. The new structure prompted several international brands, including Betway and Unibet, to forego participation, accelerating market consolidation.
Upcoming Regulatory Developments
As the new framework takes hold, policymakers are weighing further initiatives to secure the regulated gaming environment and revisit the industry’s advertising regulations. Plans call for a multi-stakeholder “shield” to help protect licensed online operators from black-market threats, with entities such as the Economy Ministry (MEF), ADM, and SOGEI collaborating across multiple technology and financial platforms, according to industry reports.
In parallel, the government is evaluating changes to Italy’s gambling advertising rules. The blanket restrictions introduced by the Dignity Decree have been cited in ongoing policy discussions involving Sports Minister Andrea Abodi and Serie A president Ezio Simonelli.
- Author
Daniel Williams
