The business of sportsbooks have done well by sports. In Italy, one of Europe’s most regulated betting markets, sportsbooks have been a perpetual source of support for the sports industry which had to go on lockdown. Things are finally looking up, and not least bookmakers. Some of the best, such as https://askbettors.com/bookmakers/pinnacle/ are still in the game and offering support for the country’s thriving ecosystem of sports.
#1 Supporting Sports
While Italy has introduced a lot of consumer protection measures and removed public advertisement of bookmakers from public spaces, both online and physical, the country’s sports have enjoyed unfaltering support from bookmakers.
Bookies have been keen to extend various sponsorships to Italy’s Serie A sports teams without necessarily displaying logos or brand signage, and focusing on purely making sports in the country fairer and more competitive.
This has been well-received and while bookies are still not as popular as some other pastimes, they definitely have their place under the sun in the country.
#2 Bringing Additional Tax Revenue
Another great benefit of sportsbooks in Italy is none other than the added revenue to the tax office. Sportsbooks have been one of the most honest and conscientious tax payers and they have been contributing continually and agreeing to any tax rate.
Regulators have not gone soft on them, but every time, bookies have gone above and beyond to send a clear message – they are ready to do their fair share for the country and if this means footing a hefty tax bill, so be it.
In fact, despite strict regulation, Italy has continued to attract new sportsbooks leading to a lot of competitiveness in the sector with the net benefit coming to the state coffers and the country’s sports industry.
#3 Developing Youth Sports
The truth is that because Italy enjoys huge interest from bookmakers, youth sports have also benefiting. Betting companies are keen on making sure that youth sport in the country is developing, because they are the future generations, and to keep sports betting alive, bookmakers definitely want to see good, honest talent cultivated.
That is why sportsbooks have been contributed to Italy’s youth sports to the extent that is allowed by law. Bookmakers are making a strong push for helping young athletes reach their potential, and this is a good thing.
The Betting Industry in Italy
The sports betting industry in Italy is still developing. It’s easy to argue that it has not reached its full potential just yet, and that’s understandable. Regulatory flux means that there will be new rules and mandates coming, but this has not curbed sports betting’s organic growth.
In fact, Italy-facing sportsbooks such as Pinnacle are bringing even more viable markets that Italian would be interested in, including American sports leagues, which adds more betting options for everyone.
The additional revenue generated from the growth of sports betting in Italy is good for everyone, as it allows the tax office to generate more revenue and for sports to thrive as a result.