Sports betting growth drive Portugal to record online gambling revenue in Q4

Online gambling revenue in Portugal hit a record €113.2m (£96.4m/$132.7m) in the fourth quarter.

To clarify, it is due to strong development in the country’s sports betting sector.

According to data released by the national regulator Serviço Regulaço e Inspeço de Jogos do Turismo de Portugal (SRIJ), total online revenue in the three months to 31 December, 2020 increased by 74.7 percent from €64.8 million in the previous quarter.

Sports betting has surpassed casino games as the primary source of revenue for licensed operators in Portugal. Hence, income from sports wagering rose by 89.6 percent year on year to €64.1 million.

Football was the most common sport to wager on. Accounting for 86.7 percent of all bets made in the quarter, with players wagering a total of €345.6m on sports, a rise of 86.0 percent over 2019. Basketball came in second with 5.2 percent of bets, led by tennis with 4.9 percent.

Online casino sales reached €49.1 million in Q4. It is a 57.9 percent raise over the same period in 2019 and the second consecutive quarter of growth for this business segment.

Consumer spending in this sector increased by 70.0 percent to €1.41 billion.

In Q4, slot games accounted for 71.1 percent of online casino betting, with roulette accounting for €12.6 percent of bets, blackjack accounting for 6.4 percent, and poker accounting for 4.2 percent, players spent a total of €1.76 billion gambling online, a rise of 69.2 percent over the previous year.

In the third quarter, 293,800 new players registered for accounts. Marking a 79.3 percent raise over the same period in 2019. The SRIJ announced that 10,300 more people signed up to self-exclude from gambling. Bringing the total number on the list to 72,400 by the end of Q4.

The SRIJ also reported that in Q4, it blocked access to a further 49 sites that were operating without the requisite approvals. In comparison, another 15 sites were ordered to cease operations in the region.

The regulator began to take action against unlicensed sites in June 2015. And since 675 blocking orders and 680 notices suspend operations have been issued.