The Booming Online Gambling Market In Portugal

The SRIJ or the national gambling regulatory body has revealed Portugal’s online gambling market has seen a revenue increase of eight percent for the fiscal year’s first quarter. This is mostly because of the significant increase for local casino revenues of eighteen percent to €16.4 million. As of March 31st the iGaming revenue was a €33.8 million total. The same period of time last year showed a total of €2.5 million less.

When compared to the last quarter of 2017, the total was lower by €2.7 million. The territory of Portugal only authorized seven providers to offer online gambling. During the same period last year there were three less iGambling operators in the country. These companies have a total of twelve operating licenses. Games of chance are allowed for seven of these licenses while only five can offer options for sports betting.

The key revenue source for this year’s first quarter is online sports betting. This sector is responsible for €17.4 million during this period. There were no significant changes present regarding the revenue generated by the country’s sports betting operations on a year to year basis. There was a decline in excess of €3 million from the amount generated during the last quarter of 2017.

Football accounted for slightly over 75 percent of the revenue from sports betting for the first quarter of 2018. The second largest contributor was basketball, followed by tennis in third place. These sports were responsible for 10.6% and 9.6% of the overall betting revenue for online sports.

Games of chance were reported by Portuguese online gaming operators as generating €16.4 million in revenue. This is nearly a growth rate of eighteen percent when compared to the same period of time last year. The main driver of revenue for games of chance were online slot machines for the first quarter of 2018. This revenue accounted for 55.7 percent of all bets placed online for games of chance. A total revenue of 18.6 percent was brought in by online poker regarding the games of chance. Local customers making bets on French Roulette followed with 16.4 percent.

The amount of player registrations for the first quarter of the year on online gambling websites in Portugal was roughly 890,000. The new player registrations totaled 89,300 for the first quarter of the new year. The new player registration growth declined by roughly 22,600 when compared to 2017’s first quarter. Players between the ages of 25 and 44 comprised 61.5 percent of all customers who registered online during the first quarter of the year. The amount of players between the ages of 18 and 24 were responsible for a total of 27.2 percent of the registration for all of the online players.

In regards to self exclusion, 21,000 total online players that had registered online took advantage of the self exclusion opportunity. These players excluded themselves from both sports betting and online gambling operations. The amount of players choosing self exclusion were an approximate 2.4 percent of all registered online players.