Online gambling does not stop growing in Portugal
In the Portuguese regulated market, not only the famous Estoril Casino shines. Online gambling seems to be finally taking off and has generated tax revenues exceeding 65 million euros in the fourth quarter of 2019, according to the report published by the regulatory authority. This is a remarkable development.
The latest figures are very promising for the sector. Online gambling revenues in Portugal maintain a constant upward trend. ©Skitterphoto/Pixabay
Very promising figures
Various media outlets echoed the balance presented by the online game in the neighboring country during the last quarter of last year. The figures are extraordinary, despite the fact that the online gambling market it is quite small, with very little weight in the whole of Europe.
The Portuguese regulatory authority, Serviço de Regulação e Inspeçao de Jogos (SRIJ), presented in its quarterly report an analysis of the online gaming and betting activity with a balance of 65.4 million euros generated in the fourth quarter of 2019.
This implies a increase of 11 million euros with respect to the balance sheet recorded in the previous quarter, and the highest value since 2017. This is gross tax revenue.
“The gross income resulting from counterpart sports betting represented 51.1% of the total gross income from gambling and online betting; while the amount generated by gambling bets was 48.9%, corresponding to 33.4 and 32.0 million euros, respectively.”
The figures are very promising and may contribute to the Portuguese online gambling market becoming more attractive to major international operators . If you look at the percentages, football and slot machines dominate the betting.
While the football betting takes almost 75% of the market , the percentage of bets on slot machines is very similar, close to 70%, followed very far by French roulette with almost 14%. Basketball is the second favorite sport of Portuguese bettors, with a market share of more than 13%.
Sports betting continues to be the favorite online entertainment of the Portuguese, undoubtedly thanks to the pull of football in the neighboring country. They take 45.6% of the market, while the online casino games account for 36% of bets . The remaining 18.4% corresponds to players who made bets on both sports and gambling.
Raspadinhas
Although the Portuguese seem more hooked on the game of raspadinhas , the popular scratch card game . If each Spaniard spent an average of $14 in 2018, the sum of Portuguese players is staggering - $160 per head. According to experts, it has become a real epidemic.
A study by Doctors Valverde and Morgado of the department of psychiatry of the Hospital of Braga published in the specialized journal The Lancet he has highlighted the addition problems that result from the practice of this game. In 2018 the sales of the cards totaled 1,594 million euros. Today they are also popular in online gambling venues.
The raspadinhas they were created in 2010 by the Holy House of Mercy, one of the most important charitable institutions in Portugal. The percentage you collect for the game is very important, it accounts for about 44% of the prize , which serves him for the financing of social activities. The institution has been forced to open a hotline in support of gambling addicts.
Betway gets a license
Meanwhile, the international operator Betway has recently secured a license to operate in Portugal, both for casino games like sports betting ; and will soon be available with the domain “.pt”. Betway thus joins other operators such as Luckia, PokerStars or 888.
Betway already operates in the main European markets and also in Mexico. The step taken by Betway has not been the only one. The Swedish software giant Microgaming has also launched on the Portuguese market through the ESC Online brand of Estoril Sol Digital. This way the distribution of their acclaimed games is guaranteed.
The issuance of licenses and new agreements it is very important, because they involve extending the control and surveillance over the online market by the regulatory authority, the SRIJ. In this regard, the European Betting and Gaming Association (EGBA) has urged the Portuguese authority to review its tax policy regarding online gambling.
According to the EGBA , the current tax policy it is not very attractive for international operators who are forced to make higher outlays in this concept when they obtain a license in Portugal. In this way, they are kept out of legislation.
This favors, always according to the EGBA, illegal online gambling or in casinos outside Portuguese legislation. According to a study that has been echoed by several media, 75% of Portuguese players bet on the unregulated market , which is an obvious lack of protection and an obvious loss of income for the regulatory authority.
