Portugal’s regulated online gambling market reported significant Q3 revenue growth thanks to the tail end of the 2018 FIFA World Cup tournament and a surging online casino vertical.

Official figures released this week by the Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ) regulatory body show the country’s eight online licensees generated combined revenue of €38.5m in the three months ending September 30, €9.2m higher than the same period last year and a new market high.

Lest anyone get too excited, the government’s share of this bounty came to €17m, thanks in part to its refusal to amend the onerous tax regime that claims up to 16% of sports betting revenue as its own.

The SRIJ’s six online sports betting operators generated revenue of €19.4m in Q3, a €3.1m year-on-year improvement but below the €20.5m the market reported in Q2. The previous quarter enjoyed the bulk of the World Cup action as well as the fact that Portugal’s national team had yet to be eliminated in the round of 16.