Portugal’s Online Betting Income Achieves a New Peak in the Third Quarter
Portugals online betting income achieved a new peak in the third quarter, hitting €84.2 million – iGB
Based on the most recent information released by the national authority, Serviço de Regulação e Inspeção de Jogos (SRIJ), Portuguese internet gambling revenue reached a record €84.2 million in the three months ending September 30, 2020.
Home > Gaming > Online Casinos > Portugals online betting income achieves a new peak in the third quarter
Portugals online betting income achieves a new peak in the third quarter
The total for the quarter was up 55.6% year-on-year from €54.1 million and also up 22.6% from €68.7 million in the second quarter of 2020.
Sports betting revenue hit €42.5 million in the quarter, up 23.2% year-on-year and more than double the total for the second quarter, due to the resumption of major sporting events following the end of the coronavirus (Covid-19) outbreak.
Gamblers wagered a total of €222.8 million on sports betting in the quarter, nearly double the amount wagered in the same period in 2019.
Soccer was the main source of interest for sports betting in the third quarter, accounting for 79.1% of all bets placed in the quarter. Tennis was second with 11.8% of bets, followed by basketball with 6.5%.
Income from games of chance reached €41.7 million in the quarter, up 47.9% year-on-year. However, this was down 12.9% from the €47.9 million generated in the second quarter of 2020, as some consumers returned to sports betting with the return of many sporting events.
Total online gaming spending in the third quarter was €1.18 billion, up 59.4% from €741 million.
The equivalent timeframe in 2019 saw a figure of 6 million.
Regarding wagering volume, slot machines held sway over the online gaming market in the third quarter, claiming 70.3% of all wagers. Following closely were roulette at 13.8%, blackjack at 6.1%, and poker at 4.8%.
During the third quarter, roughly 156,000 new users signed up for online gambling accounts, while the number of individuals opting to self-exclude from online gambling also climbed to 62,100.
By the third quarter, Portugal boasted 24 valid gambling licenses, a rise from 18 in 2019. Of these, 11 licenses were for sports betting and 13 were for online gaming activities.
Solverde Group, a Portuguese casino operator, officially made its entrance into the Portuguese gambling market in September 2020 after securing an online sports betting permit.
Sign up for the iGaming News Newsletter.
