During the third quarter of 2020, Portugal's regulated operators reported revenues of €84.2 million, marking a 22.6% increase compared to the previous quarter and a significant 55.6% rise compared to the third quarter of 2019.
Even in the second quarter, a period heavily affected by the COVID-19 pandemic, the market showed resilience with earnings of €68.7 million. This figure was the second highest quarterly total ever recorded, showing only a slight decline from the record of €70.3 million set in Q1.
The rebound of sports betting largely drove the Q3 growth. Following a steep decline in Q2, sports betting revenues soared to a record €42.5 million in Q3. This increase represents a remarkable 104.3% rise from the previous quarter and a year-on-year increase of 64.1%.
In contrast, igaming revenues saw a decline in Q3 after achieving peak figures in Q2, as player preferences shifted from sports to casino games during the suspension of most sporting events. The igaming gross gaming revenue (GGR) for Q3 was €41.7 million, reflecting a 12.9% decrease compared to Q2 but a 47.9% increase year-on-year.
Interestingly, the expected shift of player interest towards alternative games during the pandemic did not occur in Portugal. Poker saw little resurgence apart from a slight increase in tournament play during Q2, before GGR dropped to an all-time low in Q3. Cash games also fell in both quarters.
There was no notable increase in betting on niche 'other' sports either, as participation rates remained relatively stable throughout the pandemic.
Noteworthy amongst the changes in player habits was the introduction of an online version of the popular Portuguese table game Banca Francesa. Launched by EscOnline.pt and designed by Gaming1 in Q2, this game accounted for 2.8% of online casino turnover in that quarter, rising to 3.1% in Q3.
Data and figures are processed by Ficom Leisure following the official figures released by the Portuguese regulator, the Serviço de Regulação e Inspeção de Jogos (SRIJ). Ficom Leisure is recognized as a leading corporate advisory firm in Europe specializing in the betting and gaming sector.
