World Cup Boosts Danish Gambling
Regulated gambling market in Denmark could buckle up for a massive boost as the sports betting during the FIFA World Cup boosted its second-quarter revenue figures in 2018.
The Danish regulatory agency, Spillemyndigheden released its Q2 revenue figures on Wednesday claiming that revenues from Danish-licensed gambling operators went all the way up to DKK1.63 billion ($248 million). During this period, the revenue increased by 11.5 percent from the second quarter of 2017. The revenue was 7 percent higher from the first quarter of 2018.
The numbers went up because of sports betting, instead of online casino vertical which shows the changing dynamics of the local gambling markets. The overall betting revenue reached DKK648 million, showing a 25 percent increase year-on-year. The growth can be contributed to the Football World Cup as well as the addition of animal-based races in acceptable wagering options in Danish licenses. The option was added in January this year and picked pace in the following months.
Interestingly, about one-third of the betting revenue was generated offline. Mobile betting channels took the biggest piece of the cake, accounting for 48.7 percent of the total betting revenue. About 17.6 percent revenue came from desktop platforms.
When it comes to betting turnover, mobile garners even more share of the market. About 54.5 percent of the betting turnover came from mobile. The rest was split almost evenly between desktop and land-based betting which accounted for 22.7 percent and 22.9 percent turnover respectively.
However, even with the mobile revolution, land-based channels account for 44.4 percent of individual betting transactions.
According to estimates, sports betting is going strong in Denmark within the regulated markets. All figures from Spillemyndigheden are for the period ended June 30. However, in July too, the sports betting market surged significantly. Licensed operators experienced a 72.5 percent surge in revenue, compared with the 2014 World Cup numbers. This growth was witnessed even as the Danish team failed to qualify for the World Cup. Moreover, this year’s World Cup wagers were 13 percent higher than the European Championships in 2016.
The online casino vertical also prospered during the second quarter. The Danish regulator online poker into the casino vertical. The total Q2 revenue for this sector was DKK537.2 million, which is up by 3.1 percent compared to the same time of 2018 and 17.4 percent higher than the second quarter of 2017. Slot machines dominated the online casino market, taking a 66.4 percent share. Roulette took away a 15.9 percent stake in the market followed by blackjack which accounts for 12.3 percent market share.