Danish Betting GGR Reaches €236.5 Million in Q4, Representing 8% growthThe Danish betting market has grown from €836.1 million (DKK 6.2B) in 2021 to €902.6 million (DKK 6.7B) in 2022. It represents a steady growth of 8%, according to the data from the Danish Gambling Authority. This signals a positive development in the COVID-19 aftermath.
Quarter 4 Earnings Explained
Danish GGR saw its biggest leap in sector growth in the 4th quarter. It recorded a 4% jump from €226.3 million (DKK 1.68B) to €236.5 million (DKK 1.76B).
Sports betting and casino raked €81.4 million (DKK 607 million) and €103.3 million (DKK 770 million), respectively. It represents a 4.8% and 6% growth compared to the previous quarter. Summing up, sports betting revenue grew by €289.3 million (DKK 2.9B) yearly, compared to €308.8 million (DKK 2.3B) from the online casino.
However, physical casino revenues fell in 2022 thanks to COVID-19 conditions. It affected land-based casinos and gaming machines, reeling from the closure of entertainment joints in Denmark.
Q4 saw a revenue decline from €13.1 million (DKK 98 million) in Q3 to €11.9 million (DKK 89 million.) This represents a 9% revenue decline in the quoted period. Yearly GGR income for land-based casinos stood at €46.8 million (DKK 349 million.)
The GGR from gaming machines also witnesses a slight decline in Q4 revenue to €39.6 million (DKK 295 million.) It represents a 1% drop from the previous quarter. Yearly earnings from the GKK gaming machine was €154.4 million (DKK 1,15B.)
Fiscal Year Comparison and Analysis
The Danish Gambling Authority (Spillemyndigheden) urged betting stakeholders to note the gambling trends witnessed. Whereas some sectors faced closures in 2021, there were interesting learnings as 2022 rolled in. Land-based casinos were closed for the better part of 2021, which led to the GGR decline.
However, as 2022 began, these restrictions were eased, although the market didn’t respond immediately. The gradual increase in revenues shows that gambling is regaining normalcy, and the 8% increase in Q4 is evident.