Portugal iGaming revenue grows in Q3 2019

Online gambling revenue in Portugal continued to climb in Q3 2019, thanks to the popularity of sports betting and casino. The country has now broken its revenue record for a seventh successive quarter.

Growth all round

A total of €54.1 million (£45.2 million) was generated in the three months leading up to 30th September. This was a 39.3% year-on-year increase and made by 11 businesses in the market. Comparatively, €48.3m was made in Q2 of this year.

The total of 11 operators was also two more than at the end of Q3 2018. There’s more to come, too, with Caravel launching its Moosh.pt brand soon.

The key statistics in more detail 

The increase of new depositing players was sizeable, up to 149,000 from 102,200 in Q2 and 125,200 in Q1. The Q3 total was a new record for the market.

Sports betting was popular, especially football. In fact, 77.53% of all bets in this vertical were placed on said sport. A total of €114m was placed on sporting events last quarter, which was higher than Q2’s €112.1m but lower than Q1’s record €131.3m.

The amount of money spent at casinos went up by a considerable margin last quarter. €741.5m was the total for between July and September, compared to €699.8m in the three months prior.

During the third quarter of 2019, 354,100 players placed bets online in Portugal.

The unregulated side of things 

Portugal is battling a big black market and in October, it was discovered that over half (56%) of gamblers in Portugal wager with unregulated online brands. This statistic was released by the Portuguese Association of Online Gambling and Gaming.

If you take the above into account, the actual figures for the country’s iGaming results are probably much higher.

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