Is the German gambling industry getting ready for some seismic growth over the next few years? That’s the conclusion that a a recently published study from Goldmedia came to after examining market conditions and regulatory frameworks for the country’s regulated gambling business. Their rosy outlook for German gaming even takes into consideration the brutal toll that COVID-19 is likely taking on the industry.
One of the major findings from the study was that, based on current revenue figures across a variety of gambling markets, the German side of the business is set to grow €1.1 billion ($1.24 billion USD) over the next four years. That should put the total revenue for German gambling at somewhere around €1.1 billion ($1.24 billion) annually by that time.
Not surprisingly, the grotesque specter of COVID-19 reared its ugly head in the discussion of the German gambling industry’s future. The impact of the disease and the shutdown is, quite optimistically, predicted to cause a 12 percent contraction in business across the gaming spectrum. Nonetheless, pent up demand (especially in sports betting) will be enough to help boost the business to its pre-COVID revenue levels and then some.
One of the biggest things the German market currently has going for it is that its regulatory situation is much steadier than it was a decade ago. More than 62 percent of the people surveyed for the study suggested that they would be more likely to engage in regulated gambling with a locally licensed operator over the next year.
If the study’s findings hold true, life in the German gambling industry is looking pretty good.