Politicians stall poker liquidity sharing in Italy

Whilst sports betting thrives in Italy, shared online poker liquidity is set to be delayed due to unfounded money laundering rumors.

The shared online poker liquidity agreement between France, Portugal, Spain and Italy could’ve hit a slump due to some politicians’ unfounded concern on international money laundering. Liquidity sharing could be delayed in Italy for at least a year, news outlet Agipro reported, since there have been significant opposition to the current terms.

According to local media, several local operators have voiced their concerns about potential benefits that their international counterparts, operating in every market, could eventually get. For instance, PokerStars got 43 percent of the January-November poker stake (US$75 million) while Italian companies only got 7,6 percent (Lottomatica) and 7,5 percent (SKS365).

Meanwhile, the Italian sports betting market recorded a total revenue (both retail and online) of US$172.99 million during November, reaching a 78,2 percent increase in comparison from the same month in 2016. The online segment contributed with US$71.7 million (89 percent over 2016’s figures) and a US$594.7 million turnover.

Bet365 led the way and recorded 28.6 percent of the total online turnover and 16.8 percent of revenue. Planetwind365, owned by SKS365, came way behind and reached just 9.7 percent of turnover and 13.3 percent of revenue.