Latest Report - Denmark Revenue Surges for October

The ever-expanding online gambling industry in Denmark has continued to exceed market expectations, with October reflecting this from its revenue figures.

Coming to DKK590m (€79.3m/$84.5m), this figure was an increase of one percent from September, with the online casino niche being responsible for the largest source, which was DKK247m - a 4.2 percent rise from the previous month and up 2.4 percent year-on-year.

Sports betting was second in the country, with this generating DKK213m and although this was a slight fall from September, there are still encouraging signs that this can witness a strong performance over the next few months.

Denmark Considered to Be a European Leader

Perhaps unknown by many in the industry, Denmark is actually considered to be somewhat of a powerhouse in the European iGaming market. Boasting one of the highest mobile connection rates on the continent, with 5.41 million people, plus 5.69 million using the internet, this makes up 98 percent of the country’s population.

New legislation was introduced in the country in 2019, which saw an overhaul of the previous regulation, and as a result, this has prompted a significant increase in interest, with customers witnessing a smoother experience.

With a tax rate on GGR (Gross Gaming Revenue) for operators in the country of 28 percent, this also signals a number of benefits for the country, which already has one of the highest GDPs (Gross Domestic Products) in the world.

It is perhaps easy to understand why online casinos are so popular in the country. Arguably one of the most well-received slot themes in the industry is based around the Scandinavian Viking period, with these games continuing to attract significant interest. Given the fact that Denmark is the ‘home of the Vikings’, these revenue figures begin to provide some degree of logical sense.

Many of the best software providers in the industry are also Scandinavian-based, and it is astute to say that they really know their target market and the anticipated levels of response. Big Time Gaming, Pragmatic Play, and Evolution are just a few of those software houses that are popular in the Danish market.

How Does 2023 Look like for Denmark’s iGaming Market

Following such an encouraging performance over the last year for the country, this could be a strong signal that it is really gearing up to move to the next level.

The likes of Unibet (owned by Scandinavian company Kindred Group) and Bet365, considered an industry leader, are just two of the online operators that have experienced positive traction and will be confident of even stronger results moving into next year. The latter certainly does not gamble on a new market unless it is confident that it can become a major player there and recognizes the potential.

Denmark is also understood to be a major technological hub, with key advancements over the last few years and much more likely to be in the pipeline. As a result, this can further help to have an underlying success for the industry, helping the customer experience when it comes to factors like connectivity.

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