Even though there are occasional dips, online gaming continues to expand in various countries. Portugal’s Online Gaming Industry is a significant contributor to the growth of Europe’s iGaming business, which is seeing rapid expansion.
In the third quarter of 2012, online gambling operators in Portugal’s Online Gaming Industry generated €159.1 million ($170.82 million) in revenue. According to the Portuguese Gaming Regulation and Inspection Service, this is the most excellent score ever recorded by the nation (SRIJ, for its Portuguese acronym).
Spain, Italy, the United Kingdom, and other European nations are increasing their online gaming operations even though the industry is experiencing highs and lows, including the decline in land-based markets during COVID-19.
Portugal’s Online Gaming Industry Increases
Chance games generated the most revenue for Portugal’s online gaming business. With €69.3 million (US$74.4 million) in sales, it accounted for 56.5% of the total gross gaming revenue (GGR).
According to SRIJ data, 43.5% of the total GGR was generated via sports betting. It was sufficient for €89.8 million (about $95.3 million), but the fourth quarter will undoubtedly bring in more. Once the figures are tallied, the completion of the World Cup will undoubtedly have resulted in a considerable windfall.
The government also performed well in the online gaming industry. The tax revenue was €50,3 million ($53,3 million), an increase of €10.3 million ($11.06 million) from the previous year.
The expansion was due to an increase in online gaming users in Portugal. According to the SRIJ, there were 771,300 player accounts after the quarter, a 7.7% increase from Q2’s statistic.
37.1% of online gamblers are between the ages of 25 and 34. Next come those between the ages of 35 and 44 with 23.3%, followed by those between 18 and 24 with just 21.1%.
The nation’s efforts to promote responsible gambling appear to be successful. At the end of the quarter, there were 138,000 self-excluded gamblers, a massive increase from about 100K at the same time last year.
Portugal Arrived Promptly.
In Portugal, online casinos have been legally protected since 2015. There are currently fifteen operators giving a variety of titles for various user profiles.
The admission fee is not expensive. The fee for online casino games is 15 percent of gross income. If this amount reaches €5,000,000 ($5,366,000), the cost can increase by 30%.
Portugal does not permit all types of gaming, despite its vast market. The SRIJ only permits slot machines, blackjack, roulette, baccarat, bingo, and poker for internet companies. Additional possibilities could be permitted this year, which is excellent news for operators, as offering a prohibited game is a significant crime that could result in license revocation.
Additionally, operators are prohibited from advertising their products near educational institutions to keep children away from the activity. However, sponsorships of sports teams are permissible, as seen by the presence of several sports betting companies on team jerseys and next to club names. Bwin has a partnership with Liga Portugal, whereas Betano has agreements with FC Porto and Benfica.