Online Gambling proves hot in Portugal
The Portuguese online gambling regulator has reported higher revenue in the first half of 2019 compared to all of 2018.
In the first half of 2019, online gambling in Portugal has been on fire with revenue of €95.6 million already exceeding the total of all of 2018 (€78.9 million). For the second quarter in a row, Portugal's regulated online gambling market has broken revenue records. We'll take a look at the story next.
Record revenue for the Regulator
The first quarter (Q1) saw the regulator's revenue of €47.3 million which would be surpassed by the second quarter (Q2) of €48.3 million. The second quarter figure was up 29.5% compared to the same quarter of 2018.
Online casino revenue has outstripped sports betting.
Revenue sources of online operators
It was online casinos that outmuscled sports betting as the main income source for Q2 on sales of €25.3 million compared to Q1 of €22.6 million and the same quarter of 2018 (€16.8 million). A black spot was the decline in poker market share, down from 13.9% to 11.34% QoQ.
Overall, the growth can be partially explained by the increase in opportunities available to players. The operator market has increased by 10 since March. Despite this, there has been a slight decline in the total number of players of 1.6%.
Another thing worth noting is that players opting to self-exclude themselves grew from 35,400 in Q1 and 24,600 in Q2 of 2018.