Portugal sets online gambling record; online taxes going up

Portugal’s regulated online gambling market closed out 2019 in style, with Q4 revenue up by more than one-half year-on-year, but new higher taxes are in the mail.

Figures released Tuesday by the Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ) regulatory body show the state’s 12 online gambling licensees generated combined revenue of €65.4m in the three months ending December 31, 2019. That’s a 52.1% rise from Q4 2018’s total, €11.4m higher than Q3 2019 and a new market record.

There were nine active sports betting licensees at the end of Q4 2019 that combined for €33.4m in revenue, up 55% year-on-year, while betting turnover spiked by more than two-thirds to a record €185.3m. Football remains the dominant betting sport, capturing nearly three-quarters of all wagers, followed by basketball (13.3%), tennis (6.3%) and hockey (3%).

Online casino revenue, which had surpassed sports in the previous two quarters, slipped back into second-place in Q4 with €32m (+49.1%). Total casino spending hit €852.2m, up from just €275.8m in Q4 2018, with slots accounting for nearly 69% of online casino turnover, well ahead of roulette (13.6%) and blackjack (8.1%).