Portugal’s Online Gambling Revenue Increases in Q3 2019

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.