Portugals gaming earnings achieved a new peak in the third trimester, reaching €84.2 million – iGB
Portugals online gambling revenue attained a record €84.2 million in the three months concluding September 30, 2020, as per the most recent data released by the nation’s regulatory body, Serviço de Regulação e Inspeção de Jogos (SRIJ).
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Portugals gambling revenue hit a new high in the third quarter
The overall figure for the quarter surged by 55.6% compared to the same period in 2019, when it reached €54.1 million, and also increased by 22.6% compared to the €68.7 million generated in the second quarter of 2020.
Sports betting earnings reached €42.5 million in the quarter, up 23.2% from 2019, and more than double the total generated in the second quarter, due to the resumption of major sporting events following the coronavirus (Covid-19) shutdown.
Gamblers wagered a total of €222.8 million on sports betting in the third quarter, almost double the amount wagered in the same quarter of 2019.
Football was the primary source of interest for sports betting in the third quarter, accounting for 79.1% of all bets placed in the quarter. Tennis came in second, accounting for 11.8% of bets, followed by basketball, which accounted for 6.5%.
Revenue from games of chance reached €41.7 million in the third quarter, up 47.9% from last year. However, this was down 12.9% from the €47.9 million generated in the second quarter of 2020, as some consumers shifted back 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.
During the equivalent timeframe in 2019, there were 6 million.
Other games, such as roulette, twenty-one, and poker, contributed 13.8%, 6.1%, and 4.8% of the market’s wagering volume, respectively. Meanwhile, slot machines were the most favored online gambling activities in the third quarter, accounting for 70.3% of the market’s wagering volume.
In the third quarter, roughly 156,000 consumers established new accounts. Simultaneously, the number of individuals opting to self-exclude from online gambling also climbed to 62,100.
Presently, there are 24 valid permits in the nation, an increase from 18 in 2019, with 11 for sports betting and 13 for online gambling games.
Solverde Group, a casino operator, entered the market in the third quarter, having acquired an online sports betting permit in September 2020.
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