Lottomatica drops on Polymarket‑Lazio deal; brokers call fears overdone

Lottomatica SpA

23/04/2026 14:09

** Lottomatica LTMC.MI has lost over 8% so far this week after Polymarket announced a $22-million shirt sponsorship with Serie A football club SS Lazio LAZI.MI, fuelling investor  concerns about increased competition in Italy's betting market

** Jefferies and BofA Global Research, however, rate these fears "overdone" or "unwarranted" and unlikely to have a material impact on the Italian gambling firm

** Both point to Italy's tightly regulated gambling market, where prediction markets (PM) are banned and have a negligible presence, limiting any competitive threat

** "PM are explicitly banned by the regulator in Italy and are just accessible via crypto wallet or VPN," notes BofA, adding that Polymarket blocks Italian users from sports betting

** BofA also notes that Lottomatica's sports betting exposure is limited, while Lazio's absence from European competitions next season further curbs any commercial impact

** "We see the Polymarket move as an exercise in global branding," Jefferies concludes

 (Reporting by Mirko Miorelli)

 ((Mirko.Miorelli@thomsonreuters.com))