Portuguese igaming revenue up 38.5% in Q3

Revenue for the three months to 30 September was down 14.9% from the second quarter of the year, but up 38.5% compared to Q3 2020.

At €64.8m casino games made up the majority of the quarterly total, a 55.3% improvement compared to the third quarter of 2020.

Players wagered €1.78bn on casino games, 50.8% higher than Q3 2020.

Slots made up 77.5% of the total stakes, followed by roulette with 9.8%. Blackjack contributed 5.2%, and 3.8% came from French roulette. Cash poker made up 2.5%, while tournaments made up 0.9%.

Online sports betting revenue, meanwhile, came to €49.3m, an increase of 16.0% year-on-year.

Players staked €296.9m on sports, which was a rise of 33.2% year-on-year. Football was the most popular sport over the three months, accounting for 82.1% of total betting volume.

The Portuguese Primeira Liga and the Uefa Champions League made up 10.1% of the total sports betting stakes alone, while tennis accounted for 13.2% of Q3 handle.

Gaming tax totaled at €40.0m, an increase of 41.3% year-on-year.

The SRIJ also revealed that 26 new online gaming licences were issued throughout Q3. In total, 15 sports betting licences were issued while casino licences made up the remaining 11.

New player registrations also increased, with 162,300 registering in Q3, a rise of 3.5%.

Throughout Q3, 39.9% of players bet on sports, while 27.5% of players bet on casino games. The remaining 32.6% bet on both simultaneously. A total of 651,000 players placed bets in Q3 overall.

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