Portugal’s online gambling market sets new revenue record

Portugal’s regulated online gambling market set new revenue records in the first quarter of 2020, which could put further pressure on the government to impose new limits for the duration of the COVID-19 pandemic.

Figures released Thursday by the Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ) regulatory body show locally licensed online gambling operators generated revenue of €69.8m in the three months ending March 31, a 47.5% increase over the same period last year and beating the previous quarterly record of €65.4m in Q4 2019.

Portugal’s ten licensed online sports betting operators reported revenue rising 39.2% to €34.5m as betting turnover rose 13.5% to €149m. The turnover figure was down significantly from Q4 2019’s €185.3m, reflecting the suspension of major sports events midway through Q1 due to the pandemic.

The market’s 12 online casino licensees saw revenue shoot up 56.5% to €35.3m as spending hit €960.8m, a nearly 58% boost from Q1 2019 and nearly €100m higher than Q4. Slots accounted for just under 70% of Q1 casino spending, up more than six points year-on-year but basically unchanged from Q4.