Danish Betting Market Revenues Surge with €236.5 M in Cross-Sector GGR

Betting and Casino Growth

The reports from the gambling authority revealed that sports betting and online casino gaming contributed the biggest to the growth of the Danish gambling industry. For the full 2022, betting and online casino recorded revenues of DKK 2.9 billion (€389.3 million) and DKK 2.3 billion (€308.8 million), respectively. In Q4 of 2022, betting was up by 4.8% to reach a GGR of DKK 607 million (€81.4 million), while online casinos grew 6% up to DKK 770 million (€103.3 million). The online casino segment brought in the largest numbers since 2012, when industry records began. This growth can be attributed to the increased demand for online entertainment during the pandemic when many physical establishments remained closed.

Some Sectors Fall Behind

As with many countries, Denmark felt the effects of COVID-19 across several sectors. Gaming machines and land-based casinos suffered the biggest impact, with 2022 revenues showing a decrease. Brick-and-mortar casinos brought in DKK 349 million (46.8 billion) in the full year, with quarterly figures indicating a 9% decrease from DKK 98 million (€13.1 million) in Q3 of 2021 to DKK 89 million (€11.9 million) in Q4 of 2022.

The GGR for gaming machines in Q4 of 2022 was DKK 295 million (€39.6 million), a 1% drop on the DKK 298 million (€40 million) from the previous quarter. Total yearly revenue was DKK 1.15 billion (€154.4 million). The gambling authority warned that these sectors were still recovering from the forced closures in 2021. Therefore, stakeholders should take that into account when comparing the yearly performances of the different gambling segments.

A statement from Spillemyndigheden explained that the percentage changes in land-based casinos and gaming machines were due to the restrictions imposed during the pandemic. Most physical locations, including gaming arcades were closed in 2021. It also pointed out that online casinos, betting, gaming machines and land-based casinos posted a total GGR of DKK 6.7 billion, which is a year-on-year growth of 8%.

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Jacob Evans Written by Jacob Evans