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Portugal’s Q3 Gambling Boom

Portugal's Q3 Gambling Boom
by
January 5, 2024
in Finance News, iGaming News
292

Portugal has witnessed a remarkable surge in revenue during the third quarter of 2023. The total market revenue in this period reached an unprecedented €215.3 million, marking a significant 4.6% increase from the previous record set in Q2. This surge was predominantly fueled by remarkable figures from the online gaming segment, showcasing a robust 36.1% growth compared to the same period in 2022.

Online Gaming Triumphs: A New Record

Revenue and Spending

The third quarter of 2023 witnessed a groundbreaking achievement in online gaming revenue, with €133.4 million pouring in from games of chance alone. This staggering figure represented a remarkable 50.5% increase year-on-year, establishing a new segment record. Astonishingly, this online gaming revenue comprised a substantial 62.0% of the overall online gambling revenue for the quarter.

Consumer spending on online gambling in Q3 reached an unprecedented €3.65 billion, reflecting a substantial surge of 47.2%. Notably, slots dominated this expenditure, accounting for 82.3%, followed by French roulette at 6.4% and blackjack at 6.2%.

Sports Betting: A Tale of Contrasting Fortunes

Decline in Revenue

While the overall online revenue surged, the sports betting market in Portugal faced a continued decline. Q3 sports betting revenue stood at €81.9 million, marking a 2.5% decrease from the previous quarter, and the third consecutive quarter of decline. Despite a 17.7% increase compared to the previous year, this downward trend raises questions about the future trajectory of sports betting in the country.

Player Behavior and Regulatory Insights

Self-Exclusion and New Registrations

In addition to revenue insights, the Gaming Regulation and Inspection Service (SRIJ), the national gambling regulator in Portugal, unveiled intriguing data about player behavior. By the end of Q3, a significant 196,600 players had self-excluded from online gambling, signifying a notable 42.5% surge from the same point in 2022. Simultaneously, the quarter witnessed a substantial influx of new online registrations, reaching 205,200. However, it was reported that 97,800 accounts were canceled during Q3, leaving a total of 3.9 million active online gambling accounts in Portugal.

Regulatory Measures and Land-Based Sector Surge

Cease of Illegal Operations

The SRIJ also flexed its regulatory muscle by ordering 23 websites to cease illegal operations during Q3, highlighting the commitment to maintaining a fair and lawful gambling environment. This proactive approach aims to safeguard players and ensure the integrity of the online gambling industry in Portugal.

Beyond the digital realm, the land-based sector witnessed a commendable surge in revenue during Q3. Land-based gambling revenue reached €76.1 million, indicating a substantial 14.0% year-on-year increase. Physical slot machines played a pivotal role in this surge, contributing €57.2 million, constituting 75.1% of all land-based revenue in Q3. Another notable contributor was casino-style and bingo games, generating €18.9 million and witnessing a remarkable 35.6% rise.

Game-Specific Revenue Insights

Beyond Slots: Baccarat, American Roulette, and Blackjack

Breaking down the land-based revenue, specific games emerged as significant contributors. Baccarat gambling, a timeless classic, generated €5.9 million in Q3 revenue. American roulette closely followed with €5.8 million, and blackjack contributed €3.3 million to the flourishing land-based sector.

Conclusion: A Dynamic Landscape and Future Implications

The third quarter of 2023 has undoubtedly marked a milestone in Portugal’s online gambling landscape. The remarkable surge in online gaming revenue, coupled with regulatory measures and a thriving land-based sector, paints a dynamic picture of the industry. As players continue to engage with online platforms and explore the diverse offerings, the evolving trends and regulatory responses will undoubtedly shape the future trajectory of gambling in Portugal.

FAQs (Frequently Asked Questions)

What contributed to the record-breaking online gambling revenue in Portugal in Q3?
The surge in online gaming revenue, particularly from games of chance, played a significant role in achieving the record-breaking figures in Q3.

How much did consumers spend on online gambling during this quarter?
Consumers spent a staggering €3.65 billion on online gambling in Q3, reflecting a substantial 47.2% increase.

What games dominated the consumer spending on online gambling?
Slots accounted for the majority of consumer spending, constituting 82.3%, followed by French roulette at 6.4% and blackjack at 6.2%.

Did sports betting witness growth or decline in Q3?
Despite an overall surge in online revenue, sports betting faced a decline in Q3, marking the third consecutive quarter of decrease.

How many players self-excluded from online gambling by the end of Q3?
A notable 196,600 players self-excluded from online gambling, reflecting a 42.5% increase from the same point in 2022.

What regulatory measures were taken by the SRIJ during Q3?
The SRIJ ordered 23 websites to cease illegal operations during Q3, demonstrating a proactive stance towards maintaining a fair and lawful gambling environment.

How many new online registrations were reported during Q3?
Q3 witnessed 205,200 new online registrations, indicating a substantial influx of players into the online gambling landscape.

What is the total number of active online gambling accounts in Portugal?
By the end of Q3, Portugal had 3.9 million active online gambling accounts.

Which games contributed significantly to the land-based gambling revenue in Q3?
Physical slot machines were the primary contributors, accounting for 75.1% of all land-based revenue in Q3.

What does the future hold for the gambling industry in Portugal based on the Q3 insights?
The evolving trends in player behavior, regulatory responses, and the surge in both online and land-based sectors suggest a dynamic future for the gambling industry in Portugal.

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