The iGaming market recorded its first year to year decrease in Denmark
This is the first time the Danish regulated market declined since its opening in 2012. Gross revenue slipped by 8.7% in 2020.
Revenue shrunk from €880m in 2019 to €807m in 2020.
Most of the blame can be attributed to the recent coronavirus pandemic. The closure of in-person casinos and other facilities would surely cut into revenue, worldwide. In addition to land casinos closing, many sporting events were canceled or indefinitely postponed.
Knowing the reason does not make up for lost funds, though. In its wake, online casino revenue rose.
Income from online casinos on the Danish regulated market rose to €600m.
That’s an increase of 4.5% from the previous year. The increase is indicative of players who could not place live bets or enter physical casinos converting to online casino use.
However, the average annual revenue increase for online casinos has been around 13% since 2012. While the numbers for 2020’s online casino profits were at least positive, they were nowhere near the typical rate.
Anders Dorph, the Director of Spillemyndigheden—the national gambling regular who released these numbers—states that it would be expected to see a significant increase in players, use, or profits from online casino games since live casinos were closed. “However, that is far from the case. Although online casinos increased a bit, it is the smallest since 2012,” which means it holds greater significance in relation to the “massive decline” seen in other areas.
Revenue was down everywhere because of the pandemic. Sports betting decreased by 8.9%, slot machines decreased by 29.3%, and land casinos decreased by 31.7%.