During his beginning address that was presented at the EiG conference that took place recently in Barcelona Spain, Gigi Levy who is the current CEO of 888 implied it vaguely, and in fact this week it became a reality, that is the entry into the arena of Italian Internet Web site sportsbook of this Gibraltar-based online gambling behemoth.
Just this week, this Italian Web site began receiving online gaming bets. It is reported to be a part of a company strategy of long-term expansion that has been reported by the Reuters news agency. Reuters reports that CEO Levy claims that this current movement is designed to improve company revenues in addition to building up the number of customers. He sees his company as being in an excellent position by next year when he says that poker and other games of skill will be allowed.
It is being estimated by industry analysts that a sports betting site should be able to achieve revenues of approximately five to ten million dollars during 2008 alone.
According to CEO Levy the Italian market is to be one of his company’s major points of focus during the next two years.
Italy has been slowly opening up its market for gambling, like free money no deposit casino, as the result of the influence of European lawmakers. This is in the face of the fact that the country originally opposed Internet betting. At this point the Italian government is saying that it will allow games of skill.
What is left to interest online gaming companies is to find out what is to be included as being ‘games of skill’ or a “skill game” versus what is said to be a “game of chance”. Analysts some to be suggesting that this will include poker tournaments which will be approved. They see one-off games as continuing to be banned. It is expected that the Italian government will have come to final decisions as to what constitutes a game of skill by the end of 2007.