Rome: Italy is now the champion of the European gambling market, boasting a market capitalization exceeding 6 trillion baht, marking it as the largest gambling market in Europe. The growth follows a significant annual increase in betting volumes, which have risen by more than 15% since the COVID-19 pandemic.

According to Thai News Agency, the Italian gambling market’s annual revenue reached £157.4 billion (almost 6 trillion baht), generating £21.5 billion (810 billion baht) in wealth for bookmakers last year. This positions Italy ahead of other European countries such as the UK, Germany, and France in terms of market size. The surge in gambling activities is attributed to the increasing tendency of Italians to gamble, with both legal and illegal gambling expenditures climbing annually.

A survey conducted last year revealed that approximately 20.5 million Italians, representing 43 percent of the adult population, engage in gambling activities at least once a year. This includes popular options like slot machines, card games, and sports betting. Alarmingly, about 1.1 million Italians gamble daily for at least an hour. Despite total gambling activities having increased sixfold over the past 20 years, the Italian government’s revenue from gambling taxes has not kept pace, with less than a twofold increase.

The survey also highlighted that southern Italy, an area with significant Mafia influence and widespread poverty, experiences higher levels of gambling compared to other regions. Government oversight appears to be lacking, allowing Mafia organizations to exploit gambling as a means for money laundering.