The Online Gambling Sector Sets New Q1 Records in Portugal

The Online Gambling Sector Sets New Q1 Records in Portugal

Shutdowns related to COVID-19 have helped the online gambling sector in Portugal reach record figures this time. This is the first time that online revenue has surpassed land revenue.

New records for the sector

The first quarter of 2020 was a boon for online gambling operations. Land-based casinos were forced to shut down in March due to the coronavirus pandemic, which left gamblers with online options only. The Portuguese regulatory body Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ) suggested that revenue for Q1 2020 was higher by 47.5% on a yearly basis. The industry earned €69.8 million in revenue during the quarter which was a staggering figure compare to Q4 2019’s €5.4 million.

The Online Gambling Sector Sets New Q1 Records in Portugal

The online gambling revenue has witnessed an upward trend in the last few months, but the closure of land-based casinos helped it earn record figures. The country’s most popular offering is sports betting. The 10 licensed operators in Portugal witnessed a 40% growth in the first quarter. Soccer was the most popular sport and amounted to 25% of the total bets. Premier Liga was the most popular sporting event which amounted to 11.4% of the total sports bet. However, this growth could not sustain because sporting events were suspended in March.

Decline in land revenue

The casinos and slot arcades have been shut since March because of which turnover for land-based options has declined steeply. In January, these establishments earned €27.5 million which decreased to €25.2 million in February and just €9.3 million in March.

The number of new online players grew to 157,400, marking a 25.8% rise. According to the latest figures, the number of people playing online has increased considerably, but the number of self-excluded players has also risen by 47.1%. Now, there are 52,100 players following self-exclusion because of excessive gambling habits.

The number of younger gamblers has also declined slightly. Only 23.3% of people in the 18-24 age group gambled during the quarter as against 29.9% from the previous period. However, the number of players aged between 25 and 34 has increased by 5% from 33.3% to 38.4%.

Online casino games like American roulette experienced a decline in revenue. This time it recorded a 42% drop to revenue of just €2.8 million. Baccarat emerged as a popular game. Its revenue increased by 52% to €3.3 million and brought the biggest chunk of revenue for casinos. Slots still continued to be the most popular online games, amounting to almost 70% of the stakes.

About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.