The regulated online gambling market in Portugal has grossed record revenue in the first quarter of 2109. The unprecedented strong performance fetched a total revenue of €47.3m (£42.4m/$53.4m) during the first three months of the year.
It is a 43 percent year-on-year increase in gaming revenue. Also, the revenue generated during the first quarter is more than 50 percent of the revenue generated during the entire year in 2018.
While there is no particular reason which triggered the growth, it is being attributed to the overall growth in the online casino and sports betting in the regulated Portuguese gambling market.
The quarterly figures released by the national gambling regulator Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ) reveal that this was by the highest grossing quarter since Portugal launched its regulated market in May 2016.
A total of €131.3m were wagered on sporting events during the quarter. Football saw most of the bets and contributed to 72.7 percent of all sports bets. Basketball, Tennis and Ice Hockey followed with 11.5 percent, 10.1 percent, and 3 percent share respectively.
The total spent on online casino games was recorded €608.6m in the quarter. Operators generated €22.6m in revenue. It was up 45.9% year-on-year.
While slots were the favorite with 63 percent of the market share, French roulette trailed with 14.8 percent. Blackjack captured 7.8 percent of the market share.