Flutter has reaped the reward of its Italian focus amid reports of early shoots of growth for the country’s newly minted iGaming regime.
Control of Europe’s second-largest gaming market was transferred to the Customs and Monopolies Agency (ADM) in November. Since the change, newly released data by Agipro revealed that online casino players spent €333m in December, up 18% from the €282m spent in the same period last year.
Lottomatica retained pole position in the country, closing December with a 31% market share. However, Flutter’s litany of Italian brands, including Sisal, Snaitech, Pokerstars, Tombola and Betfair, accounted for a further 26.5% of the market.
For Flutter, the data reaffirms its commitment to growth in the Italian market after securing the acquisition of Snaitech for a valuation believed to be around €2.3bn in April, with the firm’s significant ambitions likely now focused on overhauling Lottomatica moving into 2026.
Since the acquisition, the group has hailed strong performances in Italy, alongside Turkey, for the growth of its international division.
In its Q3 earnings report, the company reported international revenue of $2.4bn, a 21% increase compared to the same period last year, with acquisitions such as Snaitech contributing 18 percentage points to this increase.
“Adding Snai to the Flutter portfolio will consolidate Flutter’s leadership position in Italy and create a position of increased scale to capitalise on the growth opportunity in Europe’s largest regulated market,” said Flutter in a statement released at the time of the acquisition.
Getting out of the blocks
Early signs appear promising for Italy as the country closely monitors the opening stages of its newly launched regime.
News of the 18% growth in spending in December rounds off a strong year for the Italian market, as annual spending rose by over 15% to €3.2bn, compared to the €2.8bn spent in 2024.
At the heart of the country’s regulatory framework is a change in licensing conditions and a ban on “skins”, which previously allowed multiple affiliate sites to operate under a single master licence.
As a result, several notable names failed to apply for a new licence upon the announcement of the regulatory overhaul, including the likes of Betway, Unibet and 1xBet.
However, 52 licences from 46 operators remain in Italy, and, like in many nations, it is a number of familiar names that continue to dominate market spend.
Alongside Lottomatica and Flutter, Entain’s Eurobet, Evoke’s 888 and Betsson’s StarCasinò also featured in the top 10 for market share.
Slots continue to dominate
Digging deeper into the figures, slots were largely responsible for driving strong online casino spending throughout December, as over €215m was wagered on the vertical, representing 65% of total spending during the period.
According to analysts from the UK website iGamingTracker, Novomatic’s Book of Ra title remains the most popular among players in Italy, ahead of Play’n Go’s Book of Dead and Amusnet’s Shining Crown.
The ‘virtual gaming rooms’ segment remains the Italians’ favourite form of online gaming, according to the data, ahead of sports betting, which recorded spending of €1.7bn in 2025, and poker (€900m).
Further reforms expected
Changes to the Italian market are expected to continue into 2026.
In September, proposals to revitalise Italian sport included a possible return of gambling sponsorship, which has been banned under 2018’s Dignity Decree.
ADM and the Senate’s Culture Commission are reviewing the prohibition on gambling advertising, aiming to strike a balance between consumer protection and legal market visibility.
Many industry voices have argued that the total ban has inadvertently fueled Italy’s significant black market – a sharp focus for Italy’s new regulatory body, given the sector is believed to be worth €1bn annually.
