According to the Portuguese gambling regulator, the online gambling business segment reported revenue growth for the seventh consecutive quarter. High financial results were achieved due to the growth of online casino indicators and online betting operations.
In the third quarter of 2019, Portugal’s income from online gambling amounted to 54.1 million euros. This follows from the report of the Portuguese gambling regulator Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ), published on December 13. According to the content of the document, the growth in revenue from online gambling year on year amounted to 39.1%. Revenue also rose by 5.8 million euros compared to the second quarter of 2019.
In the third quarter of 2019, income from online casinos reached 28.2 million euros, which is 2.9 million euros more than in the second quarter of 2019. Earnings from online sports betting totaled 25.9 million euros, also exceeding the previous quarter by 2.9 million euros.
The turnover of sports betting reached 127 million euros, which is two million euros higher than in the second quarter of 2019. 77.5% of the total sports betting came from football.
Tax revenues from online gambling for the third quarter of 2019 amounted to 23.6 million euros, which is 6.4 million euros more than in the third quarter of 2018.
Portuguese users made bets totaling 114 million, which is slightly more than the second quarter – 112,1 million. However, slightly below the record level – 131, 3, published in the first quarter of this year. Three-quarters of user bets, or 77, 53%, were in football competitions.
Moreover, a significant increase in the number of registered players was noted. In the first quarter, the indicator was 125,200 registrations, in the second – 102,200, and in the third, the number of registered users was 149,000. During the indicated period, 354,100 users made bets.
Portugal’s online gambling market was legalized in May 2016, when the country’s first license was granted to Betclic Everest.
Meanwhile, local media noted that despite a significant increase in all key indicators among licensed operators, the shadow segment is likely to significantly outperform the legal industry. According to a topical study conducted in October at the initiative of the country’s gambling regulator, 56% of Portuguese continue to use the services of unlicensed market participants.