The online gaming market in Portugal is currently booming, with year-on-year revenue up by almost 25% in the territory. The first three months of 2023 registered revenue of over $200 million.
Sports betting has gone through the roof, with soccer being the leading market, with over 70% of the betting handle coming in this tranche, followed by basketball and tennis.
Interestingly when it comes to brick-and-mortar casino establishments, there was an almost 2% drop in revenue when compared to the previous quarter, but it is worth noting that year on year, the actual curve is pointing upwards, with revenue being up 22% when compared to the same quarter in 2022.
2022 saw online casino rise in popularity, with revenue hitting record highs for five successive quarters. Indeed over $2.6 billion was staked on online casino games in 2022, which was a massive improvement on the previous year, a rise of almost 40%.
Online gaming is undoubtedly on the up and up across Europe, with some exceptions, and Spain, Italy, and the UK (albeit there is likely a backlash following wide-ranging regulatory changes there) are showing signs of expanding their respective markets and, therefore, Portugal’s upturn isn’t all that surprising.
Currently, 15 operators are licensed in Portugal, and the tax applied to these providers is low, especially when compared to the US market. It’s also worth noting that not all forms of gaming are legal, which offers additional room to grow, and in terms of advertising, it’s a reasonably open region, which again offers brands growth potential.
One brand that is very much on the rise is MGA Games, which offers a very localized product, making it all the more effective when it comes to the playing public.
The marked upturn in the area was touched upon by their Sales Director, Javier Lanfranchi, who stated on their partnership with SkillonNet;
“We are delighted to announce this new agreement, and bring our products to one of the main casino operators in Portugal. The alliance with SkillonNet, and Bacanaplay comes after MGA Games titles were launched with the well-known Spanish brand, PlayUZU, also from SkillonNet. We are convinced that this association will consolidate the presence of both companies in European markets”.
