I’m not familiar with their business as we’re totally removed from sportsbetting…
but in general that 12b number is how much the industry is worth on an annual basis. How many times that money is turned over would be much greater. Take casino with an average margin of 3%. 12b / 3% = 400b in turnover. Which means for online casinos to have revenue of 12b, it would take approx 400b in turnover.
I would suspect the sportsbetting industry makes a different margin than casino, but you get the idea.
So if all online gaming had the same margin and that 400b was an accurate guesstimate of the actual global turnover then their 1.2b in turn over would have them 1.2/400 = 0.3% market share.