Portugal records 39% jump in online GGR for Q3 2022
Online casino continues to increase revenue return while new player registrations jump by 20% YoY
Portugal’s online gross gambling revenue (GGR) grown 39.3% year on year (YoY) amid significant rises in online casino and sports betting revenue and new customers in the market.
According to the latest data from the Portuguese regulator, the Gambling Regulation and Inspection Service (SRIJ), operators in the market generated a total of €159.1m (£137.2m) in revenue for the reporting period compared to €114.2m in Q3 2021.
Of this €159.1m total, online gaming continued to beat out sports betting as the most popular vertical in the market after returning €89.8m in revenue, marking the third consecutive quarter of growth during 2022.
Sports betting revenue amounted to €69.3m during Q3, a 40.4% YoY rise from Q3 2021’s €49.3m.
Football continued to make up the lion’s share of sports bets placed in Portugal with 78%, dominated by the Primeira Liga, Champions League and Premier League.
Tennis remained the second most popular sport accounting for 17.1% of all sports bets, with other sports making up the remaining 4.9%.
In terms of 2022 performance, sports betting revenue in Q3 represented a significant uptick on Q2’s €64.7m. This was based on a combination of the early starting domestic football season and tough comps based on Euro 2020 in Q2 2021.
Elsewhere, the period saw a 20% YoY jump in newly registered players in the market, rising from 162,300 in Q3 2021 to 194,700 in Q3 2022.
This was complimented by a 17.5% increase from Q2 to Q3, which saw the market buck its previous trend of quarter-on-quarter downturns.
There was also a 36.9% leap YoY in self-excluded players, jumping from 100,800 to 138,000.
Finally, the SRIJ noted it had sent 60 notifications for closure during Q3, while the regulator blocked 63 sites in the period.