PORTUGAL SETS NEW IGAMING REVENUE RECORD IN FIRST QUARTER
Portugal’s regulated online gambling market achieved a new record quarterly revenue of €47.3m during the first three months of the year, primarily due to year-on-year growth across sports betting and casino. The figure is the highest quarterly total since the country launched its regulated market in May 2016, according to official figures released by national regulator Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ).
The figure represents a 43.8% increase on the first quarter of 2018. The Q1 total is also more than half of the igaming revenue Portugal generated in the whole of last year (€78.9m).
Sports betting was the main source of income for the market’s ten igaming licensees, accounting for €24.8m of the total, up 42.5% on Q1 last year.
Portuguese punters wagered a total of €131.3m on sports during the quarter, with football responsible for 72.7% of all sports bets. Basketball followed with an 11.5% share of the sports betting market, then tennis on 10.1% and ice hockey with 3%.
In terms of customer spending, online casino was some way ahead, as punters wagered a total of €608.6m in the quarter. Operators generated €22.6m in revenue, up 45.9% year-on-year.
Meanwhile, SRIJ has also noted an increase in new sign-ups for the quarter, with a total of 125,200 consumers registering for online gaming accounts, up from 89,500 in the same period last year. This can be partly attributed to the fact there were three more licensed operators in Portugal than in Q1 of 2018.
SRIJ also continued with its efforts to clamp down on unlicensed gambling in the country, issuing 49 notices for operators without a permit to cease activities and submitted 30 requests to internet service providers to block websites.
In terms of land-based gaming for the quarter, revenue slipped 2% year-on-year to €75.1m, primarily due to a decline in table games revenue.
Source: GMB / iGaming Business