Recently a gambling and betting regulator in Denmark has released its figures for the third quarter of the year 2022 and it does seem like the market is shrinking. According to Spillemyndigheden, the profits from bitcoin gambling, online betting, poker and other gambling activities in July, August and September accounted for $130 million US dollars, or 910 million Danish Krones. Even though it represents sme 2.2% increase in the Year-on-Year figures, it still shows a 2.75% decline when compared against the second quarter. Can this mark a downtrend in the Danish betting and gambling market or is it just a result of an extra good weather? Let’s find out below.
Danish gambling market explained
The editors of the website Casinopånett.eu in their article suggest that the betting sector seems to be the biggest contributor to the decline of the Danish gambling market. It has a decline both when compared to the previous quarter of the current year and when compared to the same quarter of the previous year. When looking at the Year-on-Year basis, betting profits has declined drastically, by some 40 million DKK. When compared against the previous quarter of the year 2022, the betting vertical has shown a drop of 20 million DKK. We can clearly say that the decline in the betting revenues and volumes has been the main reason behind the decline on the whole market. A noteworthy fact here is that this is the first time in history (since 2012) when the Danish market has experienced a drop.
When looking at the other types of gambling, we can see that they mostly grew. Online casino revenue, which excludes poker, has grew some 22% on Year-on-Year basis. Most of it (70%) has been contributed by the online slots, 5% were provided by the roulette games and the same amount supplied by the blackjack. Other games accounted for the 10% of the online casino revenues.
Poker seems to show a large drop as well. Even though it is not as big in absolute numbers, only 5 million DKK, it still stands for some 14.5% of the game’s volume.
Could this drop be correlated with the weather?
Even though there might be many complex reasons behind the drop in the gambling market in Denmark, one of the most interesting items to look into is the change in the Danish weather.
This chart from AccuWeather actually shows that the weather in Copenhagen during the month of July 2022 was much better than the average.