World Cup wager record broken in Italy despite country’s failure to qualify
A record €466m ($544m) was wagered on the FIFA World Cup by bettors in Italy, even though the national team did not qualify for the tournament for the first time in 60 years.
According to Italy’s Agency of Customs and Monopolies, the wagering record almost doubles the money spent during the last World Cup in Brazil, where €270m was wagered.
The increase is down to the expanded number of legal betting shops after the 2015 and 2016 Stability Law on tax amnesties authorised the opening of more shops.
Italian consumers have also benefitted from a larger market with regards to authorised betting.
The record results contradict many experts’ concerns the market would suffer due to lack of national interest in the matches.
This news comes just weeks after Italian government approved the Dignity Decree, which will see a blanket ban on all gambling advertising and will take effect from June 2019.
It is yet to be seen how the new law will affect the sports betting market in Italy, but the boost to the market could be maintained into the new Serie A season.
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