Portugal Online Gambling Revenue Sets Record Prompted by Betting

Online gambling revenue in Portugal amounted to €84.2 million in the three months ending September 30.

Sports Competitions Boost Online Gambling Revenue to Record Highs

Online sports betting was the leading game segment in Portugal’s regulated market during the third quarter of 2020, surpassing its casino competitor and doubling its revenue compared to Q2.

Locally licensed online gambling operators generated revenue of €84.2 million in the three months ending September 30, an increase of 55.7% from the same period last year and a 21.6% quarter-on-quarter rise, figures released Monday by the Portuguese regulator Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ) show.

By the end of September 2020, there were 14 licensed online betting operators in Portugal, three more than last year. In November, Skill On Net Limited received a license to operate online games of chance, such as slot machines, Blackjack, French roulette and American Roulette on bacanaplay.pt.

The Special Online Gambling Tax (IEJO) in 3Q2020 reached €28.3 million, up by 31.7% year-over-year.

In April last year, Portugal introduced limits on access to online gaming platforms after noting a surge in consumption after the country declared a state of emergency on March 18. In the third quarter of 2020, the number of newly registered users climbed by 5.2% year-on-year to 156,800, while quarterly active customers rose by one-third to 473,200.

Online Betting was Followed Closely by Online Casino Segment

Sports betting was the breadwinner of Q3 revenue, prompted by the restart of sports competitions following spring’s pandemic halt. Betting revenue reached the record €42.5 million, more than double sequentially and nearly three times the amount year-on-year. Betting turnover also set record highs, nearly doubling year-on-year to €222.8 million.

Online casino revenue stood at €41.7 million, almost doubling its digits year-on-year but decreasing from its Q2 record of €47.9 million. Online casino turnover fell 10% sequentially, although it reported an increase of three-fifths year-on-year.

In October last year, casino software supplier Tom Horn signed a partnership with Casino Portugal. Under the agreement, Solverde will add Tom Horn Gaming products to its portfolio, including the company’s iGaming software suite and slot titles, and specifically games such as Diamond Hill and 243 Crystal Fruits.

Slots contributed to 70% of the overall online casino revenue, followed by roulette (13.8%) and blackjack (6.1%). Poker cash games featured a 4.8% share, while tournaments added another 1.9%.

The SRIJ’s continued its efforts to battle illegal online gambling sites, with 83 domains forwarded to local internet service providers for blocking and another 29 official GTFO notices issued to unauthorized operators.

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