Industry News

Lottery and sports revenues dwindle in Switzerland

Published

6 years ago

August 23, 2018

Niji Narayan

Lottery and sports revenues dwindle in Switzerland

Photo Credits: swisslos.ch

Reading Time: < 1 minute

The Swiss Federal Office of Justice has disclosed that during 2017 the overall revenue from lottery and betting sales dropped by 6.4 per cent when compared to that in 2016. The overall turnover during the year was €2.46 billion.

According to the body, sports and race betting turnover were down €8.7 million year-on-year to €161.8 million, as revenue also dropped by €2.6 million to €51.1 million. Horse racing was the main driver of both figures as it accounted for €114.6 million of the total turnover and €30.6 million in revenue.

The government has recently set restrictions for international gambling operators but it seems to have had little effect on local punters. As reported by Swiss broadcaster SRF, VPN providers have seen a rise in the number of registrations from Swiss clients. That would be a way of bypassing Switzerland’s block and playing on foreign websites anyway.

Source: focusgn.com

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.