Portuguese GGR rises 45% in H1 2020 amid online casino spike
Online casino proves to be big winner during lockdown as revenue and volume both rise by more than 70%
Gross gambling revenue (GGR) from Portuguese-licensed operators rose by 45% year-on-year during H1 2020 to reach record levels of €138.9m (£125.3m). The latest data from the regulator (SRIJ) shows total betting volume across all verticals rose by 62% in H1, rising to €2.53bn (£2.28bn) during the first six months of the year. Online casino revenue jumped by 74% during H1 to €83.7m (£75.5m), buoyed in part by a 26% rise in new player registrations across online gambling sites during the period.
The increased revenue for the sector was mirrored in total stakes, which also rose by 74% annually during H1 to €2.29bn (£2bn). Sports betting revenue grew by 15% in the first six months of 2020 to €55.2m (£49.8m), despite the cancellation of sports events during the Covid-19 lockdown period and a 1.5% decline in bets placed. However, the SRIJ has confirmed that bets placed on sporting events totalled €28.2m following the resumption of certain sports in May, comparable to betting levels seen in the pre-lockdown period.