The Italian online gambling market is undergoing one of its most significant transformations in over a decade. With the long-awaited renewal of remote gambling licences now well underway, a new regulatory framework is reshaping the industry’s competitive landscape. For existing operators, this is a high-stakes moment. For new entrants, it’s a missed opportunity – unless they act fast.
The recent publication by the Italian regulator, the ADM, of the list of 46 entities that will be soon admitted to stage two of the gambling licence renewal process, marks a crucial milestone in this journey. The clock is now ticking for operators to comply with a series of complex legal, technical and financial obligations, all within tight deadlines. This update confirms the momentum that has built over the past year as the Italian gambling reform slowly shifted from legislative theory to market reality.
These 46 brands that passed stage one must submit a comprehensive documentation package to the ADM, pay the first €4m installment of the one-off licence fee and provide a bank guarantee for liabilities. Also, within 60 days from the ADM’s notification, they must also execute the new licence agreement to finalise entry into the new regime.
For many currently active operators, signing this agreement immediately triggers full compliance with the new regime, including the obligation to pay the additional €3m one-off fee, bringing the total entry cost to €7m. This is a considerable financial barrier, but it grants access to one of Europe’s largest online gambling markets under a new licence that will remain valid for nine years. As a result, operators are making difficult strategic decisions, whether to commit long-term capital or prepare for exit.
Operators that chose not to participate in the new licensing process but are still active under a transitional extension until 17 September 2025, face an urgent compliance calendar. They must cease operations entirely and settle any remaining balances by the end of the extension period. ADM will monitor the process closely, including the fulfillment of all tax obligations, before returning any bank guarantees.
The ADM has also acknowledged the potential shock of a mass market exit. In a notable move, the ADM issued a bulletin allowing for a player migration mechanism between outgoing operators and those that have secured a new licence. This innovative solution enables the transfer of player accounts and balances without requiring new registrations. It helps mitigate the loss of customer assets and smooth the user experience during this transitional period.
This also opens new commercial models. Operators leaving the market often convert into affiliates for those remaining, monetising their user base through a revenue-share model tied to the gambling activity of migrated players. This scenario can soften the blow of an otherwise abrupt market exit and may influence how brands handle customer communications over the coming months.
A fresh face
On the other side of the fence, prospective operators that were too late to apply are effectively locked out. Since the Italian gambling licences awarded through this tender will last until at least 2034, a new call for applications is unlikely anytime soon. However, the current licensing regime includes a
streamlined process to transfer licences. This means that operators seeking to enter the Italian online gambling market now have one clear route: acquiring either an existing licensee or its business.
The Italian online gambling market remains attractive in terms of revenue, player engagement and technological innovation. The current reform reflects Italy’s intent to strengthen compliance, consolidate the market and ensure stronger consumer protection. Operators that move decisively and meet these obligations are likely to benefit from reduced competition and greater regulatory certainty over the next decade.
In contrast, those that delay or attempt to operate at the margins risk reputational and financial damage. The ADM is watching closely, and the authority has signaled its readiness to enforce compliance. With mandatory reporting schedules, weekly financial disclosures and clear end dates for transitional licences, there is little room for ambiguity or leniency.
At the same time, the Italian gambling authority is showing a level of regulatory innovation rarely seen in other EU jurisdictions. The migration of gaming accounts is a forward-thinking mechanism that balances market continuity with consumer protection. It shows how compliance can also be a tool for operational and commercial continuity, if stakeholders understand how to use it.
In summary, the Italian online gambling market in 2025 is defined by urgency, opportunity and complexity. Operators that prepared in advance are now racing to finalise licensing obligations, while those that delayed are navigating an exit. Meanwhile, a new M&A wave may define market dynamics for years to come. This is not just a regulatory update, it is a fundamental reset of how online gambling operates in Italy. For those with vision, resources and speed, it is also an unprecedented opportunity.
Giulio Coraggio is a leading technology and gaming lawyer and is the global co-chair of the Gaming & Gambling group of DLA Piper.
With over 15 years of experience advising some of the world’s largest online and land-based gambling operators, Coraggio is widely recognised for his deep knowledge of Italian and international gambling regulations.
He regularly assists, with the support of DLA Piper’s global practice, clients with licensing, compliance, advertising, corporate structuring and litigation matters in highly regulated markets.
The post Italy in 2025: an online market in transition that’s brimming with opportunities first appeared on EGR Intel.
DLA Piper’s Giulio Coraggio delves into how the future of the Italian online gambling market could shape up after the regulator announced the 46 sites to have passed the first stage of the new licensing regime
The post Italy in 2025: an online market in transition that’s brimming with opportunities first appeared on EGR Intel.