New Figures from Q4 Indicate Portugal Market Will Mature FruitfullyPublished April 18, 2021 by Lee R
SRIJ figures in Portugal give a distinct and robust profile of a growing market.
The Portugal market has turned in a record-breaking quarter for revenues to conclude fiscal 2020.
Aggregated online gaming revenues for Portugal hit €113.2 million ($132.9 million), with that record-breaking total attributed to a spike in sports betting receipts.
Portugal regulator SRIJ data published in iGaming Business.com indicates the new high total to be a whopping 74.7% year-on-year jump from Q4 2019's total of €64.8 million ($76 million).
Sports Betting Contribution
The growth was driven by a spike in remote sports betting to overtake online casino games as the leading iGaming vertical contributor, with remote sports betting in Q4 rising 89.6% year-on-year to reach €64.1 million ($75.2 million).
The Portugal market has experienced steady robust growth since licensing its first online casino in July 2016, showing a promising example for smaller economies looking to capitalise on or grow in emerging markets.
Background and Betting Breakdown
Portugal has since added ten more domains to license agreements including CasinoPortugal.pt, EstorilSolCasinos.pt and Betway.pt. Sports betting handle for these incoming sites reported a Q4 sports betting handle increase of 86% year-on-year to €345.6 million ($405.6 million). Wagers were divided among leading sports bet on soccer (86.7% of total bets); basketball (5.2%); and tennis (4.9%).
Video slots was another super vertical performer for Portugal, leading online casino verticals with 71.1% of Q4 receipts from from video slots, a Q4 total which far outpaced roulette (12.6%); blackjack (6.4%) and poker (4.2%).
Registration in Portugal sky-rocketed as well, to see SRIJ's aggregated fourth-quarter handle sky 69.2% year-on-year to reach €1.76 billion ($2 billion); with an estimated 293,800 new players registering accounts.
As far as Portugal's cutting edge self-exclusion program, 10,300 people voluntarily added their names to the national self-exclusion list in Q4 to bring the year end list total to 72,400.
Building on Q3
The new totals indicate Portugal's growing market has turned in a second consecutive quarter of across the board year-on-year growth for the key Q4 closing quarter, after Q3 showed 57.9% year-on-year improvement in aggregated third-quarter revenues to €49.1 million ($57.7 million).
The SRIJ is still cleaning up the illegal domains in Portugal, a process which as it progresses should increase revenues in the fledgling but rapidly growing Portugal market.