The Impact of Online Gambling on Italian Tourism

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When you take a close look at Italy’s traditions, it’s clear that gambling has been a major part of their lifestyle for a long time now. Since the days of the Roman Empire, Italians have devised various means to stake and gamble, including creating the forerunner of the modern Backgammon game. There are also rumors that Baccarat and Bingo originated from Italy. 

After the events of the 2020 COVID-19 lockdown, the focus of Italian gamblers shifted to online platforms, leading to the creation of one of the most thriving online gambling markets worldwide. As more platforms were launched, the online gambling industry grew so much that it became a significant part of the tourism market. But how exactly do betting sites in Italy affect the tourism market? This piece will break down everything you need to know. 

A Detailed Overview of The Italian Online Casino Industry

The Italian online gambling market comprises three significant aspects: iGaming, iSports, and others. However, it’s safe to say that the iGaming sector of the market is the most successful. This iGaming sector describes any betting sites in Italy related to playing casino games on your mobile device or PC. 

It’s clear that the growth of online casinos can be attributed to the widespread access to computers, smartphones, tablets, and other internet-enabled devices. The reach of gambling market spread quickly like the Sardinia wildfire, as internet-enabled services became widely accessible. 

As mentioned earlier, Italians take gambling seriously. That’s why the jurisdiction has one of the most thriving Italian casino markets. Here, you can enjoy all your favorite casino games, such as Roulette, Poker, and Blackjack.

According to Future Market Insights, the Italian Casino Market was estimated to exceed $ 4,913 million in 2022, while it expected its annual sales value to grow by 4.1%. The potential for growth in this industry is also impressive. Based on the previous estimations, Italy’s Casino Tourism Market will be worth $7,343 million. 

The iSports industry in Italy is also thriving. It has seen tremendous growth in recent years. There are more large-scale tournaments, professional leagues, and active players. eSports has been the major contributor to the development of the thriving iSports industry. 

If these figures are anything to go by, online betting websites in Italy are growing leaps and bounds. This exponential growth has influenced certain parts of Western Europe. Many jurisdictions are motivated to enable more online gambling activities to benefit from the wealth of the casino industry. 

Also, many platforms and operators wish to join Italy’s casino market. They understand that as one of the oldest casino markets in the world, Italy offers unlimited potential for growth in gambling institutions. Foreign players who visit Italy can use Esimatic to access the internet and play classic titles. 

The online betting websites in Italy comprise a long list of activities that allow you to wager on different outcomes at betting shops and online websites. These platforms have thrived because the Italian online betting industry draws inspiration from local and foreign sources. However, this jurisdiction boasts a well-organized gambling market that’s regulated. Despite its regulations, Italy welcomes casino operators from around the world. 

How have Italian Online Casinos Affected the Tourism Market?

The success of Italy’s online casinos has positively affected the tourism sector. Because of the thriving online casino industry in this jurisdiction, more foreigners will gain interest in the country’s affairs. It may even welcome more investment from foreign enterprises. 

Cirsa, one of the biggest multinational gaming and leisure companies from Spain, recently finalized two significant deals that will allow it to operate in Italy and Morocco. However, this hasn’t been Cirsa’s only foray into the Italian casino market. Cirsa also purchased 60% of Eplay 24, an Italian online betting website, in 1997. They’ve used this online gambling platform to penetrate the Italian market and conduct business there. 

How Have Recent Italian Online Gambling Regulation Reforms Affected the Tourism Market?

To operate effectively in Italy, betting operators must comply with the gambling regulations in the region. However, the online gambling regulations in the area have undergone recent changes. Let’s review these changes and how they will affect the tourism market. 

The gambling legislator in this region plans to award 50 new gaming licenses by 31 December 2024. Despite the relatively short time frame, this legislator is committed to making it happen. By awarding these new licenses, more operators will function in the market. Thereby boosting the overall variation of the entire online gambling market. 

Furthermore, the price of the nine-year license issued in the jurisdiction increased to EUR 7 million. An annual license fee is also to be paid. This fee will equal 3% of Gross Gaming Revenue (GGR) net of gambling taxes. Betting operators must also invest 0.2 of the GGR in responsible gambling campaigns. This reform shows that the legislature recognizes massive revenue from the online casino industry. 

Further regulatory changes include a mandatory requirement for online casino managers and operators and prohibiting minors from amateur gambling competitions. This requirement aims to optimize the user experience of online bettors. Well-trained managers and operators will moderate a seamless online gambling experience for multiple users. Excluding minors from sports gambling competitions will tackle gambling addiction. 

The next regulatory reform aims at tackling gambling addiction via the introduction of self-exclusion mechanisms for people prone to this issue. This means that you can rely on the platform to set a limit for how long you spend on casino games. These self-exclusion measures are treated as seriously as Italy’s Brown Bear conservation efforts. 

Finally, this legislator has introduced more stringent measures to tackle unlicensed websites offering games to users. This legislator may even implement payment-blocking measures to stifle such online activity. 

Italy’s new regulatory reforms indicate how it handles external interest in its online gambling market. This jurisdiction openly welcomes foreign interest in its online gambling market. However, it doesn’t hold back in regulating how external investors will engage their audience. 

Conclusion

Italy’s extensive gambling history is thrilling to learn about. However, it has also created a thriving online gambling market. This gambling industry has significantly influenced Western Europe and has been a source of foreign investors. If you wish to learn the impact of the Italian gambling industry on the tourism market, go through the details in this article. 

Featured image: Unsplash

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