Online Casinos Boost Portugal’s Internet Gambling Market in Q1 2018Published May 20, 2018 by Florin P
The Portuguese online gambling industry thrives off Internet casinos, while sports betting revenue stays flat.
The online gambling market in Portugal is regulated and seven operators are licensed to provide local players with games. In the first quarter of 2018, these companies have posted combined revenue numbers of €33.8 million. The Serviço Regulação e Inspeção de Jogos do Turismo de Portugal is the state-controlled authority that regulates the industry and the one posting these numbers.
A closer look at the figures will highlight the fact that the industry’s revenue has increased by €2.5 million compared to Q1 2017. At the same time, there was a setback compared to the last quarter of 2017 and the online sportsbook revenue was rather flat. The Portuguese government got its share of €11.2 million, in line with expectations and the numbers of 2017. One of the reasons for why the number of players choosing locally licensed websites remains low is that taxes are levied on turnover not revenue.
More Casino Licenses Issued in 2017
Football remains the most popular sport among those who choose Portuguese licensed bookmakers. Basketball, tennis and ice hockey follow at a considerable distance, but overall the sports betting industry failed to impress. Online casinos generated more revenue and that’s also because three more licenses were granted in the second half of 2017. Those who play at Internet casinos prefer slots, followed by poker and live dealer table games such as roulette and blackjack.
Poker revenue followed an upward trajectory and the future looks particularly bright for this game in 2018. That’s because PokerStars announced that Portuguese players will join their counterparts from Spain and France in the cross-border liquidity pool. This will increase the likelihood of poker tables being populated at every limit by players of all skill levels. Portugal’s online market enlisted less than 90,000 new customers in the Q1 2018, significantly less than the number of players who joined in Q1 2017.