The Portuguese gaming regulatory body reported an increase in gross revenue earned by online sportsbooks for Q2 2018 thanks in part to the FIFA World Cup.
The Portuguese online gambling market has received a huge boost after bettors flooded online sportsbooks to wager on FIFA World Cup games during June to July, according to the country’s regulatory body.
On August 26, the Serviço de Regulação Inspeção de Jogos (Regulatory and Inspection Services of Games) released the financial reports of the gambling industry in the country during the second quarter of 2018.
The data showed that online sports betting generated €20.5 million in gross revenue from April to June 2018. The reported gross revenue for Q2 was an increase of around €3 million from Q1’s €17.4 million. In addition, the number is higher than the €13.9 million and €16.3 million of 2017’s Q1 and Q2. However, the gross revenue for 2018 Q2 has not surpassed the number from 2017 Q4 at also €20.5 million.
Football dominated the Portuguese online betting market as the famous sport represented 74.4 percent of the volume of bets made during the second quarter. Around 20 percent of the total bets were made for the 2018 FIFA World Cup, in which the Portuguese squad lost in the Round of 16.
The next biggest contributors are the local Primeira Liga and the neighboring Spanish La Liga, with 7.2 percent and five percent, respectively. Following them are the UEFA Champions League, English Premier League, and international friendly matches, in that order.
Tennis amounted to 14.2 percent of the total volume of bets wagered during Q2, with notable competitions such as the French and Italian Open tournaments. Meanwhile, basketball and other sports represented 7.2 percent and 4.2 percent.
More Gambling Data
The published financial report revealed that the Portuguese online gaming industry generated a total of €37.3 million in gross revenue from April to June 2018. This quarter’s numbers are the highest among the last five quarters. Last year’s Q4 was the closest with €36.5 million, while 2017’s Q2 was the farthest with only €25.4 million.
Eight licensed online casino operators in the country announced more than 103,000 new registered accounts in Q2 2018. The report added that the number of new registrants decreased from April’s 32,500 to 20,500 but surpassed 50,000 in June.
While the number was tens of thousands lower than Q4 2017, it was 40 million higher than the Q2 of the previous year.
The online games of chance recorded an increase in gross revenue earned with €16.8 million. In comparison, the gross revenue from the last four quarters was €11.4 million, €13.1 million, €16 million, and €15.5 million from Q2 2017.
The sector also received bets worth around €485.2 million. More than half of them came from online slot games. Both nonbanking poker and French roulette contributed around 15 percent each.
On the other hand, 9.35 percent of wagers placed came from blackjack. Meanwhile, tournament-mode poker and other games of chance represented combined 5.16 percent.