Online powers Portuguese gambling growth in Q1 – iGaming Business

Online powers Portuguese gambling growth in Q1 – iGaming Business

Growth in online gambling outpaced a decline in land-based activity in Portugal in the first quarter of 2020, as total revenue grew 8.4% to €131.8m (£114.4m/$143.2m).

Online gambling revenue grew by 47.5% to €69.8m for the three months to 31 March.

This revenue figure was the highest ever for a quarter in Portugal, overtaking the previous quarter’s €65.4m, and also marked the first time that online gambling brought in more revenue than its land-based equivalent.

Slightly over half of this total came from online casino, at €35.3m, which grew 56.5% to overtake the revenue from sports betting, which itself grew 39.2% to €34.5m.

This growth in sports betting revenue came despite a 19.6% decrease in amounts wagered to €149.1m. Just under three quarters of bets (74.7%) were placed on football, with Portugal’s Premeira Liga the most popular competition for betting, earning 11.4% of all sports stakes, or 15.2% of football bets. Basketball followed with 11.1% of bets, with tennis (9.1%) and ice hockey (2.5%) following.

Casino stakes, meanwhile, grew by 12.7% to €960.8m. Slots were by far the most popular online game, accounting for 69.8% of stakes. Roulette followed at 12.6%, while 6.4% was staked on blackjack.

The Portuguese government took in €20.8m in online gambling taxes, up 40.1% year-on-year.

The number of new online players in the quarter increased 25.8% to 157,400. However, the number of self-excluded players also grew, by 47.1% to 52,100.

The number of online players aged 18-24 declined from 29.9% to 23.3%, while the 25-34 age group remained the largest, increasing