Portugal Results Indicate Adaptivity and SustainabilityPublished September 6, 2020 by Lee R
Portugal figures show that betting activity remained steady according to the demands of each H1 month.
In Portugal, the increase in online gambling has been reflected in financial results.
Total operator take for H1 2020 increased to revenues of €138.9m (£125.4m/$164.4m) for a 44.2% year-on-year, according to new figures from the Serviço de Regulação e Inspeção de Jogos (SRIJ).
The momentum ceased however by June, as revenues returned to pre-pandemic levels.
Key Sports Betting
H1 2020 saw sports betting revenue increase 15.9% year-on-year to €55.2m, with online casino revenue up 74.1% from 2019 to €83.7m. Total stakes increased 62.5% to €2.53bn.
Meanwhile, sports betting stakes declined 1.5% to €239.9m, with online casino stakes growing in line with revenue to €2.29bn.
Portugal regulator SRIJ attributed the increase in online play to the closure of land-based casinos, and lauded the fact that Portugal players chose licensed sites when forced to go online during the shutdowns.
More About Stakes
Sports betting stakes for Q2 2020 reached €90.7m while casino stakes came out to €1.32bn for three month online totals that outpaced the entire six months through 30 June, 2019.
Sports betting stakes performed the strongest in the pre-covid months of January and February at €61.7m and €56.7m—before falling €30.8m in March, and all the way down to €7.7m for April.
Portugal's market recovered in May to wager amounts of €27.4m, and then rose all the way to pre-pandemic levels of €55.6m for June.
Leading Sports Bet On
Football remained the most popular sport to bet on, fluctuating from a low of 71.7% of stakes in January to a June high of 86.3%.
Second in the sports betting vertical was tennis, which jumped in May, with those stakes making up
22.7% of bets dropping back to June's 9.4%, which was in line pre-pandemic levels.
Basketball was third, but dropped dramatically with the NSA's suspension until the end of July.
As for casino games, January stakes totaled €304.9m in January, with €286.5m arriving in February, before casino activity online increased. In March, players staked €381.8m; in April €479.3m; and May €468.3m before June wagers dropped to €371.9m.
The combination of wager fluctuation and legal betting across both modalities indicates the resilience of Portugal's market, which seems poised for growth no matter what the conditions.