Portugal records unprecedented gambling revenue surpassing €215 million.
Portugal Shatters Third Quarter Revenue Record in 2023, thanks to Online Gambling
As reported on igamingbusiness's site [Link in English], online gambling plays a significant role in Portugal's new revenue record. The online gambling sector generated a total of 133.4 million euros through player bets, marking a 50.5% increase compared to the previous year.
Portuguese gamblers splurged approximately 3.65 billion euros on online gambling, which can be attributed to an expanding gambling market. For instance, Play’n GO, a game developer, holds a license in Portugal and provides numerous online slots for gamblers.
In the third quarter of 2023, 82.3% of the total bets were made on slot machines. The amount wagered on roulette and blackjack was comparatively lower at 6.4% and 6.2%, respectively.
Online Sports Betting Revenues in Portugal Tumble
While the third quarter of 2023 marked a new revenue high for Portugal, the country witnessed a drop in online sports betting revenues [Link in English].
The online sports betting revenue stood at 81.9 million euros. Despite a 17.7% year-on-year increase, the revenues dipped by 2.5% compared to the second quarter of 2023, highlighting the third consecutive quarter of downward trend.
A total of 390.5 million euros were spent by Portugal's gamblers on sports betting in the third quarter. Football bets accounted for 71.4% of total stakes, while tennis followed closely with 22.2%. The remaining 6.8% of the stakes were placed on other sports.
Portuguese Gambling Authority Reveals Additional Data
The Portuguese regulatory body, Gaming Regulation and Inspection Service (SRIJ), published statistics revealing that 196,600 players opted out of the gambling offer in Portugal during the third quarter. Additionally, 97,800 player accounts were closed. However, 205,200 new accounts were also opened by gamblers in Portugal.
The SRIJ ordered 23 unlicensed gambling providers to cease operations in Portugal.
In Germany, gamblers can choose to self-exclude or be barred by providers in case of problem gambling. This option is available for licensed German operators through the LUGAS Safe-Server, which provides online gambling player monitoring service.
Despite the decline in online sports betting revenues in Portugal, the overall online gambling sector continues to thrive. In contrast, online casinos in Germany are also gaining popularity, with players utilizing the LUGAS Safe-Server for self-exclusion or provider-imposed bans in cases of problem gambling. Hence, online gambling in Germany, specifically online casinos, has been attracting significant attention ['online casinos Germany'].
