BtoBet’s latest industry survey explores how a recent treaty that legalizes online poker and slots would affect the industry.
The new Interstate Treaty on Gambling will enter into force in Germany in early summer. It will bring major legal shifts to online sports betting and casinos.
According to BtoBet, the treaty would enable Germany to become a dominant force in the European Igaming industry. It will also address any grey market issues.
According to the study, revenues for German online casinos will rise from €2.2 billion (£1.87 billion) in 2019 to €3.3 billion in 2024.
The study predicts that the demand will rise to €18.2 billion in 2024, considering the pandemic’s advancement.
BtoBet’s guided its predictions by an analysis of available statistics and trends from past years.
Germany has the largest population in the European Union, with 83 million people. Out of which, 20 percent of Germans are known to gamble.
Moreover, the nation has 134.7 percent mobile connectivity, a 1.6 percent increase from January 2020. Its internet users have also increased by 1.3 percent to 78.81 million.
With such a large population, Germany has seen steady growth in betting. The Germany Betting Association (DSWV) data shows how widespread sports betting is becoming. Since 2014, the country has seen sustained growth in this sector, with a total turnover in the sports betting industry of €4.52 billion. The revenue then peaked in 2019 at €9.28 billion, before falling marginally to €7.79 billion in 2020 due to the pandemic.