Lottomatica and Flutter in tight race for Italian market share

(AsiaGameHub) –   The competition for market share in Italy is becoming increasingly fierce as Lottomatica and Flutter compete in the rapidly evolving online gambling sector.

While Lottomatica currently holds a slight lead with a 31.8% market share compared to Flutter’s 31%, Flutter’s growth trajectory in Italy remains strong.

Once the dominant player in Italy, Lottomatica now faces mounting pressure from Flutter, which continues to challenge the established order in Europe’s second-largest gaming market.

Flutter has intensified its efforts through strategic acquisitions, most notably completing the purchase of Snaitech in April 2025. This acquisition strengthens its position alongside other Italian brands such as Sisal, Pokerstars, Tombola, and Betfair.

Reporting to investors, Chief Executive Officer Peter Jackson described Flutter as the ‘clear number one operator online’, highlighting that the company is ‘outgrowing both the market and its main competitors’.

Jackson particularly praised the success of Sisal’s MyCombo product, which enables users to create custom pre-match football accumulator bets. According to Flutter, multi-leg bets account for approximately half of Sisal’s pre-match football wagers.

Flutter continues to grow

Data released by Agipro in January showed that Flutter held a 26.5% market share in December, just after the market transitioned under the new licensing system administered by the Customs and Monopolies Agency (ADM).

This represents an almost 5% increase since the beginning of the year, underscoring the momentum Flutter is gaining in Italy—and serving as a warning to Lottomatica.

In comparison, Lottomatica ended 2025 with an online market share of 31.3%, having grown by only 0.5% over a similar period.

Regarding Flutter’s performance in Italy, Jackson noted that Snaitech has yet to fully benefit from the migration of customers to Flutter’s SEA platform, which was completed at the end of April.

He added: “I’m very excited about the outlook for the rest of the year in Italy, with Sisal’s ongoing, exceptional performance and the unlocking of Sisal’s market-leading products for Snaitech following the platform migration.”

Alongside Flutter, Lottomatica is also keeping a close eye on several international operators looking to expand their presence in Italy’s revitalised market.

Betsson, for example, reported record Q1 revenue in Italy and continues to gain market share. Meanwhile, multinationals bet365 and Entain maintain a presence in Italy through Eurobet.

Despite these competitive pressures, Lottomatica reported solid results: a 10% year-on-year increase in online gaming segment revenue to €265 million (£229 million). Overall gross gaming revenue grew modestly by 2% year-on-year to €1.24 billion (£1.1 billion).

Strong performance across Italy’s leading operators reflects the overall health of the online gaming market, which now includes 46 operators holding 52 licenses collectively following the recent regulatory changes.

Combining both old and new regimes, total spending in the Italian market rose by more than 15% in 2025, reaching €3.2 billion (£2.76 billion), up from €2.8 billion (£2.42 billion) in 2024.

Questions still to answer

While Italy’s market appears to be developing well under the new ADM framework, significant questions remain regarding advertising regulations, especially the 2018 Dignity Decree.

This legislation completely bans gambling companies from sponsoring sporting events. However, proposals have been submitted to amend certain provisions in an effort to boost Italian sports through increased gambling marketing investment.

Currently, ADM and the Senate’s Culture Commission are evaluating the restrictions as they attempt to balance consumer protection with the need for greater marketing visibility.

Industry stakeholders argue that limiting regulated sector exposure has unintentionally contributed to the expansion of Italy’s substantial unregulated betting market, estimated to be worth around €1 billion annually.