Italy will soon implement laws that have the power to rejuvenate its declining online gambling industry by sharing liquidity with other EU members.
Gaming attorney Giulio Coraggio says that Italy is on the verge of implementing a set of brand new regulations that will create a global-level regulated online gaming market and encourage more people to play online poker games. He said recently: “Italian gaming laws are going to be considerably amended as part of the so-called Delega Fiscale law which, among others, is likely to change the regime of sports betting and poker tournament to 20% Gross Gaming Revenue (GGR).”
Although nobody knows what exactly these laws are going to be, Coraggio says that they will give AAMS, the country’s gaming regulator, more power to develop gaming policies and operate in collaboration with regulatory bodies in other EU countries.
Coraggio says: “In the last draft of such law, a new provision was introduced to allow the management of games by the Italian gambling regulator, AAMS, together with the authorities of other countries.”
He further said that the online poker industry is in trouble all over the world, but the condition is worse in European countries such as France, Spain, and Italy because they have ring-fenced their markets. He opined that the scenario will “considerably change” if international liquidity sharing is permitted.
The AAMS’s latest stats have gotten the poker community worried. A Jamma.it report of 2014 says that the revenue numbers of 2014 are similar to those of 2013. While verticals such as sports betting and casino gaming have done well, online poker continued to decline, the report indicated.
When studied in comparison with the figures of 2013, the GGR of cash poker games in Italy slid 21% while that of poker tournaments slid by 18%. The Italian online poker industry’s total GGR of €178 million is just a small fraction of what it was before the country regulated and ring-fenced the market. The AAMS also has figures to show that Italians have lost interest in playing online poker.
However, online casino gaming has continued to become successful in Italy, recording an increase in revenue of 6.7% when compared to the numbers of 2013. Most of this revenue has been contributed by online slots games.
The growth of the Italian sports betting industry has also been good, recording an increase of 11% in spite of the fall in football betting.