Portugal online gambling market up 8% on double-digit casino growth
Sports revenues for Q1 2018 remained flat despite three new licences being granted in 2017
Portugal’s online gambling market saw revenues up 8% to €33.8m in Q1, thanks largely to an 18% increase in casino revenues to €16.4m.
Casino accounted for 48.5% of the market’s overall revenues for the quarter with slots making up 55.7% of casino revenues.
According to the figures, released by the Portuguese regulator (SRIJ), there were 22,600 fewer sign-ups in Q1 2018 than the previous year, as the market continues to mature.
Elsewhere, sports betting revenues for the period were largely flat, reaching €17.4m, despite three new licences being issued by the SRIJ during 2018.
Football accounted for 75% of all bets placed in Q1, with basketball and tennis taking 10.6% and 9.6% of the market share.
The regulator is currently in the process of reviewing its regulatory framework, after asking for input from key stakeholders in January, with the 8% turnover tax on sports betting seen as a major barrier to further growth.
The public consultation period will come to a close in May and the Portuguese government will subsequently review the slow progression of the market since in its inception two year ago.