Online gambling grows in Portugal

The online gambling market in Portugal has reported an impressive performance as it grew 52.1% in the fourth quarter of 2019.

Portugal.- The Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ), the gambling regulator from Portugal, has released the financial report from the fourth quarter of 2019. Online gambling was a vertical that performed well during that quarter.

The fourth quarter ended December 31, 2019, registered a 52.1% increase in revenues to €43 million when compared to the same period in 2018. It also represents the eighth consecutive three-month period where Portugal registered a new online revenue record. The previous one had been set at €54 million.

Sports betting revenue was also one of the leading financial verticals, as the modality set a 55% improvement to €33.4 million when compared to the fourth quarter in 2018. Around €185.2 million were wagered during that period, representing a 67.5% improvement year-on-year.

The land-based sector struggles

SRIJ also reported the results from the land-based sector, which registered a poor performance last quarter. The sector posted a 0.8% year-on-year setback to €80.6 million.

Gaming machines accounted for €66 million of the total revenue, but this figure is down by 3.5% when compared to the fourth quarter in 2018. On the other hand, table games revenue increased by 15.5% year-on-year to €13.6 million.