Juan Munoz

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Growth was strongest online, where remote casino, betting, and bingo GGY climbed 6.9% to £8.3 billion ($11.1 billion), compared with a modest 1.1% increase across land-based sectors.

This digital expansion coincided with a continued shrinkage in physical retail. Great Britain had 8,081 licensed premises at the end of the period, down 2% year-on-year.

Several operators have announced shop closures over recent months, including Entain and Flutter, citing a rising tax burden.

About Juan Munoz

The analysts estimated that an operator capturing a one-cent spread and managing its exposure successfully could generate net economics of approximately $1.69 on a $100 trade. Returns are not guaranteed: adverse price movements and unresolved inventory can offset or exceed income from spreads, rebates and liquidity incentives.

The operational infrastructure available to these new firms, however, remains underdeveloped. Gonzalez contrasts prediction markets with equities, where trading businesses can use prime brokers, clearinghouses and standardised systems such as FIX.

“When it comes to prediction markets, none of that exists,” he said. “Everyone that’s building in the prediction market space mostly starts from ground zero.”

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Playtech on Thursday reported a 10% revenue increase year-on-year in H1 to €425.1 million, driven by what it described as “exceptional growth” for its B2B business in North America.

Revenue from the US and Canada increased 161% year-on-year (or 176% in constant currency) to €56.9 million.

This was due to its partnership with Hard Rock Bet in Florida, and the strength of its games powered by Past Motor Racing (PMR). These are expected to normalise in subsequent quarters.