Iceland iGaming market overview 2020

By May 5, 2020 June 14th, 2020 Gaming, iGaming market overview, Jobs

Icelnad iGaming General info

Iceland, a Nordic island nation with a Viking history. Most of the population lives in the capital, Reykjavik. Iceland has no state gambling operator. Instead, all gambling activities are restricted to non-state institutions and charity organizations with a license.


Market Size Population – 364,134

Capital – Reykjavik

Language – Icelandic

Search Engine – Google.is 

TLD – is 

Legal GGR Estimation – 83M Euros


Legal NGR Estimation – 28M Euros 

  • 48% of the legal revenue comes from Electronic slot machines 
  • Lotto – 21% of the market share
  • Sports Betting – 7% of the market share
  • All forms of Online Gaming participation 70-79% of the population

GDP – 24M Euros 

The Gross Domestic Product measures the value of economic activity within a country. The GDP figure in 2019 was $24,184 million, Iceland is number 108 in the ranking of GDP of the 196 countries that we publish.


Internet Penetration – 96.6% of the population


Internet shopping – 67%

Online Internet shopping is growing in Iceland, with just over 67.3% of internet users doing at least some of their shopping online.


Mobile Penetration – 90-100%

Iceland is among the top countries in the world in terms of internet use, with a penetration rate close to 100%.

Gaming Legislation – Casino gambling is illegal in Iceland. Those who operate an illegal casino will face punishment. However, not all forms of gambling are illegal as players can play lottery-type games, bingo and are allowed to bet on sports


Big players in the Market 

SWOT analysis – Small market / Coming Legislation / Low Player Value / Number of partners


Resources:

Problem Gambling in Europe: Challenges, Prevention, and Interventions

https://books.google.co.th/books?id=qLx8vcf9e1cC&pg=PA70&lpg=PA70&dq=iceland+gambling+statistics&source=bl&ots=TvCCXDC-ek&sig=ACfU3U3vbbN1ru7-WES-_xFBfYmIfZyebw&hl=en&sa=X&ved=2ahUKEwiH2PL68JvpAhXWyzgGHSR4DFAQ6AEwA3oECAgQAQ#v=onepage&q=iceland&f=false

Economy of Iceland

https://en.wikipedia.or/wiki/Economy_of_Iceland

Gambling in the Nordic countries

https://nordicwelfare.org/en/nyheter/gambling-in-the-nordic-countries/

EU Gambling  Study

https://www.srij.turismodeportugal.pt/fotos/editor2/diversos/Study%20on%20the%20role%20of%20regulators%20for%20online%20gambling_EC%202014.pdf

Casino Hacks TV Show

https://www.casinohacks.com/

H2GC Stats 

https://h2gc.com/

Read more about iGaming in Estonia here

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