H2 Gambling Capital

Lottery GGR €1.48bn (-2% YoY); retail dominant, online growing. Sports betting declined. FY 2026: Lottery €6.15bn (+2%), Sports betting €970m (+4%) driven by the World Cup. Download on the H2GC website. h2gc.com

Netherlands lottery update: Postcode Lottery Group 2025 sales reached €1.28bn (+5% YoY), with €871m gross winnings. Forecast: €1.34bn sales in 2026 (+4%). More detailed data expected soon. #H2 #NetherlandsGambling

Italy gambling update: Q4 2025 turnover hit €47.3bn (record), gross win €6.5bn (+41% QoQ). Q1 2026: sports betting -7% YoY, virtual +16%, horseracing declining. Outlook: modest growth, continued pressure on gaming machines.

China lottery update (Feb 2026): • Sales: RMB 34.3bn (-18% YoY, -38% MoM) • Impacted by Spring Festival timing • Sports betting weakest (-25% YoY) • YTD sales down 1% YoY 2026 forecast: RMB 649bn (+3%) #China #MarketData

Global gambling market update (Q1 2026 FX): • Forecast: $1.03tn by 2030 (6.2% CAGR) • 2026 revised down $4.7bn after FX update • Europe leads decline; Asia also down • Market size up overall on improved offshore estimates (notably China & India) #Gambling #MarketData

UK Remote Gaming Duty hike is biting - Evoke plans ~200 shop closures. Globally: tighter rules, more oversight, rising pressure. #GamblingInsights #GlobalGambling

Germany update 🇩🇪: New GGL quarterly data boosts visibility across licensed & taxed operators, with clearer betting vs iGaming splits. 2026 forecast:
• Sports betting handle €8.53bn (+3% YoY)
• iGaming €5.57bn (slots-led) More on H2GC. #H2GamblingCapital

Q1 2026 ends quietly, with February updates and improvements to Germany and Hungary data. US debate on prediction markets continues, while the UK prepares for a Remote Gaming Duty rise to 40% from 1 April. Ed will be at SiGMA South America - get in touch to meet.

NSW Q2 FY26 non-casino gaming: A$2.45bn revenue (+9% YoY) • Hotels: A$1.11bn, 22,521 devices • Clubs: A$1.34bn, 65,498 devices H1 FY26 total: A$4.91bn (+7% YoY) H2 FY26 forecast: A$9.26bn (+10%)

Horse Racing Ireland: 2025 on-track wagering €156.2m (+9% YoY). Bookmakers lead (€83m), tote share drops to 46.3%. Punchestown Festival attendance +15%. H2 forecasts 2026 growth. #IrishGambling #Horseracing

Veikkaus’ 2025 gross win in Finland reached €918m, down 2% YoY. Lottery & slots saw a slight decline, partly offset by the new daily draw game Milli. Online casino & betting remained broadly stable after Pitkäveto platform improvements. Monthly GGR & Market Share now live.

H2 dataset and regulatory updates across Europe, Africa and North America. Recent highlights include strong online momentum in Denmark, record figures in Lithuania, continued online casino growth in Italy, and lottery growth in Mauritius. More details in the H2 Comment Schedule.

Total GGY £4.29bn. Ex-lotteries: £3.24bn (+8% YoY, -1% QoQ). • Online: £2.01bn (+12% YoY), led by remote casino £1.40bn (+14%) • Land-based: £1.23bn (+2% YoY) • Betting: £592m (flat YoY) Trend: online growth continues; land-based mixed. #UKGambling #GamingIndustry

Market gross win fell 3% YoY to NZ$2.71bn in FY2025. • Betting was the only growth segment (+6%). • Casinos declined (-8%). • Gaming machines remain the largest segment (37% share). FY2026 shows mixed trends: machines resilient, casinos still soft. #GamingIndustry #NZ

FDJ: Q4 lottery gross win €523m (GGR €1.49bn), -5% YoY / +3% QoQ. FY25 lottery revenue €2.10bn (+2%). Q4 retail SB €131m revenue (GGR €289m), +2% YoY / +52% QoQ; FY -3%. Taxes cut €27m in Q4. 2026F: Lottery GGR €6.16bn (+3%), Retail SB €1.01bn (+3%).

The Spelinspektionen reports record Q4 gross win of SEK 7.81bn (+3% YoY / +16% QoQ), with online at SEK 4.95bn (+7% YoY) - now 63% of the market. FY 2025: SEK 28.2bn (+1% YoY). Excluding Casino Cosmopol (closed Q2), growth was +2%.

Virtual betting gross win: €69.5m +16% YoY | -3% MoM Estimated split: Land-based €50.6m Online €18.9m FY2026 forecast: €798m (+10% YoY) Land-based €574m | Online €234m Horse race betting: €4.3m (+15% YoY) Updated dataset now live.

Super Bowl LX betting handle fell 19% YoY across NV, NY, NJ, PA, CO & OR. But elevated hold margins offset lower volumes: NY/NJ/PA 31% CO 28% OR 15% NV 7.4% Blended hold: 24.1%. Estimated total handle: ~$1.41bn Implied GGR: ~$340m Lower handle, stronger margins.

Italy fixed-odds sports betting hits a record in Jan 2026: €330m gross win ⬆️ +28% YoY ⬆️ +68% MoM (off weak Dec base) Online: €205m (+29% YoY) | 62% share Retail: €125m (+26% YoY) | 6-year high H2 forecasts €2.94bn for FY2026 (+9% vs 2025). Dataset now live.

Super Bowl wagering in Nevada hit a 10-year low: $133.8M handle, 7.4% hold. But that’s not the full story. Retail-heavy mix + 7.5% drop in Las Vegas visitation skew the numbers. Meanwhile, Kalshi + Polymarket saw $555M in trading volume. Headline ≠ national trend. #SuperBowl