12th of July 2018 Author: Alex Hoffmann
Denmark's Spillemyndigheden regulatory agency is growing safely and effectively in Q1 according to the latest financial reports. The country's regulated gambling market has increased its revenues by 9% due to an increased number of legitimate online casino licensees and sports betting, extending up to a staggering DKK1.52b or $236.3m from January to March 2018.
The jump represents an encouraging news for the agency, since a 7% drop from the Q4 2017 was not expected, due to an increased level of activity around the holidays. Nevertheless, other verticals such as sports wagering also delivered a rise of 7% reaching almost DKK 555.4 million, which, in comparison to 22% drop in Q4 2017, represents the highest vertical rise. In addition, placing bets via mobile devices is also on the rise, making up the half of total betting revenue or 49.9%. Land-based casinos and desktop outlets make up 35.3% and 14.9% respectively.
Predictably, the biggest vertical contributor is certainly the online casino division, which generated DKK520.8 million or $82,257,756 in USD. The agency has recorded 8.7% growth in comparison with Q4 2017, and Spillemyndigheden added online bingo for the first time in Q1 calculations as the newest contributor to casino financial statistics. A commendable part of the calculations contributed by bingo operators amounts 2.9% or DKK 15 million, showing a steady progression in first three months of 2018. Video slots and table games pitched in 66.5% of online casino revenues, or 13.1% (roulette) and 10.8% (blackjack) respectively.
On the other hand, online poker has recorded a drop in revenues, ranging only at DKK 27.9 million in Q1, unlike DKK 34.5 million in Q4 2017. Likewise, the land-based division has reported a revenue fall of 3.6% or DKK 370.3 million. Although the numbers are rising, Denmark's self-exclusion programme has added almost 2,000 players in 2018 alone, whereby the total number of registrants has risen to 14,871 by July 2018. Despite the negative trends of ROFUS, revenues and statistical data should continue to rise - making the country a better optimized solution for potential iGaming adaptation procedures.
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This isn't huge, but it's nice to see that Denmark's online gaming market is slowly increasing - good news for potential investors and existing operators.
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