Portugal’s online gambling space records revenue and turnover increase in 2018, with football and slots proving main drivers of growth
Portugal’s online gambling market grew nearly 24% last year, figures released earlier this week by the local regulator Serviço de Regulação Inspeção de Jogos (SRIJ) show. Regulated online gaming and sports betting services generated revenue of €152.1 million in 2018.
Last year marked the second full year of legal online gambling operations since Portugal re-organized its local market and began issuing licenses to interested local and international companies. The country’s new gambling law took effect in 2015, but it was not before the spring of 2016 that SRIJ granted the first license as part of Portugal’s market liberalization effort.
The online gambling regulator had awarded 15 licenses by December 31, 2018, of which 7 for the provision of online sports betting services and 8 for online casino games, including poker. SRIJ recently issued its 16th license to Gibraltar-based online gambling group 888 Holdings. The company will be able to operate online casino games and poker in Portugal. 888 is only the second operator authorized to go live with poker services in the local market, with PokerStars being the first.
According to SRIJ’s recently published annual and fourth-quarter revenue report, online sports betting was the main driver of growth in the local digital space. Revenue from the practice totaled €78.9 million, with overall wagers placed amounting to €391.8 million.
The final quarter of the year was the most successful for Portugal’s regulated betting market with the highest revenue and turnover recorded of all four quarters. Revenue during the last three months of the year totaled €21.6 million, while betting turnover stood at €110.6 million. Football was the most popular sport among Portuguese bettors, with bets placed on football accounting for 73.8% of the total.
The Online Casino Sector Grows, Too
Portugal’s online casino sector, too, grew in 2018, recording revenue of €73.2 million, up from €54.4 million in 2017, and overall stakes of more than €2 billion. The fourth quarter of the year was the most successful one for that vertical, as well.
Online casino revenue amounted to €21.5 million during the final three months of the year on stakes totaling €576.4 million.
Online slot games once again proved to be the largest digital casino segment, accounting for 61.6% of all stakes during the fourth quarter of the year. Roulette came next, claiming 14% of the total market, followed by cash game poker with a 10.6% share, blackjack with an 8.5% share, and tournament poker with a 5.3% share.
PokerStars was the only licensed online poker operator in the local gaming space for two years. It added Portugal to the shared liquidity pool between Spain and France last May after receiving the green light by SRIJ. It is yet to be seen how the local online poker market will be boosted with 888 joining the space. The company said that it would, too, seek authorization to participate in the shared liquidity project.
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