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Portugal’s Online Gambling Revenue Increases in Q3 2019

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6 years ago

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Portugal’s Online Gambling Revenue Increases in Q3 2019
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Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ), the Portuguese gambling regulator, has reported that the state’s iGaming operations brought in €54.1m ($60.3m) in revenue for Q3 2019, making it the seventh consecutive quarter of increased revenue.

The Q3 figures represent a 39.1% increase when compared with the revenue generated for the same period the previous year. The Q3 revenue was also up €5.8 million from what the online market took in the second quarter. For Q2, the Portuguese online gambling and betting market reported total revenue of €48.3 million.

The state’s gambling regulator also grossed €23.6 million in tax revenue from online gambling operations. During the same period the previous year, the tax contribution from the online gambling sector was just €6.4 million.

Online casinos contributed €28.2 million to the overall revenue, up €8.8 million from what it grossed during Q3 2018. Overall sports betting revenue generated by online sportsbooks in Portugal was reported €25.9 million. For Q2 2019, the sports betting operations generated €23 million in revenue.

Online sportsbooks in Portugal reported a total Q3 betting handle of €114 million. The majority of the bets were placed on football. The total betting handle in Q3 was up €1.9 million when compared with Q2 2019.

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Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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