The gambling market in Portugal is thriving, according to new figures released this week.
The official gambling regulation body in Portugal, the Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ), has released data that show the country recording another record in online revenue. This is the seventh time in a row that the sector has set a new high.
The total revenue figure of €54.1 million for the third quarter of 2019, was a rise from €48.3 million for the second quarter of the year and it represents a year on year increase of 39.1%. The increasing revenue was created by a total of 11 firms, which were responsible for 18 licences between them, which compares to the two operators that existed in the same period for 2018.
In total, Portugal raised €23.6 million through their online gambling tax for the period, which is a rise of €6.4 million on the same period in 2018.
Casino revenue was one of the main drivers for the growth, as it rose from €25.3 million to €28.2 million for the same quarter. That rise was worth €8.8 million. Sports wagering revenues also played a part in the growth. They hit €25.9 million in this period, up from €23 million in the second quarter and a significant rise of €6.4 million for the same quarter of 2018.
In total, Portuguese sports betting customers gambled €114 million during this quarter of the year, an increase on the second quarter total, but down from the record €131.3 million wagered in the first quarter of the year. Over 75% of that total was bet on football.
But despite the big increases across the board, there is reason to believe that the real gambling figures in Portugal are much higher. Back in October, it was reported that as many as 56% of Portugal’s gamblers still use unlicensed firms, three years after the legalisation of online betting.