Introduction: A confident market
Introduction:
A confident market
A pragmatic and
collaborative approach
to regulation alongside
the freedom to
advertise has laid
solid foundations
for a thriving and
sustainable market
T
here is every reason for
operators within the
regulated Danish market to
be happy with progress since the
market opened in 2012. In total the
dot.dk market has grown 150% in
the past six years with a compound
annual growth rate of 20% until
2017, when it came in at 12% (see
Table 1).
In terms of market share, lottery
monopoly Danske Spil remains
dominant despite a downward drift
in market share percentage since
2012. This report estimates Kindred/
Unibet and Bet365 to be its nearest
competitors, followed by Betsson
and LeoVegas (see Chart 1). Along
with Mr Green, the latter represents
the newest wave of market entrants.
A model regime
As it stands, the licensed operators
would appear to be happy with the
direction of travel evident in the
Danish market. It would certainly
appear to validate claims made by
proponents of regulated regimes
that a sensible tax policy (GGR
at 20%) allied to the freedom to
advertise more heavily will result in
a successful and thriving regulated
market.
This is despite the market
remaining relatively small, both on
terms of revenues – at €448m in
2017 it is less than a tenth of the
UK online market for instance – and
number of licensees. The latter has
risen lately, however, to 38 at the
current count with new entrants
Table 1: Denmark online betting and gaming (DKKm)
Product: 2012 2013 2014 2015 2016 2017
Sports betting 453 614 905 1,174 1,413 1,530
Casino 650 795 891 1,144 1,415 1,675
Poker 220 195 167 165 148 132
Total 1,323 1,604 1,962 2,482 2,976 3,337
281 358 520 494 361
21.24 22.34 26.49 19.89 12.13
YoY growth
YoY growth (%)
Source: Danish Gambling Authority
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Denmark: Insights and data on Europe’s pioneer model for igaming regulation