Online Gambling Grows By 8% in Portugal
Portugal reported a significant growth in online gaming revenue for the year’s first quarter. The rise is being partly attributed to the growth in online casinos earnings.
The SRIJ (Serviço Regulação e Inspeção de Jogos do Turismo de Portugal), which serves as Portugal’s gambling regulator, reported an 8% boost in the online gambling market’s revenue in Q1 of 2018. This growth is the result of an 18% boost in the revenue generated by local casinos, who reported overall earnings of €16.4 million.
The iGaming revenue for Q1 as of 31st March came up to €33.8 million, which is about 2.5 million more than what was reported last year for the same period. However, when compared to the final quarter of 2017, the figure fell by 2.7 million.
Portugal is currently home to around seven online gaming providers. Just last year, there were only 4 that were authorized to offer online gambling. The providers hold a total of 12 licenses, with 7 of them permitting the provision of games of chance. 5 of the 12 licenses were allocated for the provision of sports betting options.
Slots generated around 55.7% of the online casino revenue during this period, with poker accounting for 18.6% of the market share. French roulette, on the other hand, accounted for about 16.1%, while blackjack accounted for about 9.6%
Though online sports betting retained its position as the main revenue source, generating about €17.4 million in the first quarter, the amount was still flat. In fact, when compared to the revenue generated in the last quarter of 2017, there’s been a reduction of $3 million.
Football constituted around 75% of the total online sports betting revenue. This was followed by basketball and tennis with 10.6% and 9.6%, respectively.
The number of registrations on online gambling sites came up to around 890,000 for the first quarter. So, over 800,000 new registrations were made in the first quarter alone, which sounds tremendous. However, the rate of growth in registrations has actually slowed down. There has been a reduction of over 20,000 registrations when compared to the figures generated in 2017 for the same period.
Players aged 25 to 44 represented around 61.5% of the total number of registered customers. As for players in the age group of 18 to 24, the figure stood at 27.2% of all online players.