Portugal: online wagering grows by 50% in Q1 2020

“At the present time, the demand for online games can also result from the fact that confinement leads to a need to find substitute forms of entertainment and leisure," government officials stated.

2020-05-11

Portugal

Reading time 1:26 min

According to a statement issued by government officials, the increase has been associated with the fact that six more licenses were granted during that period. "This shows that operators are interested in offering games in Portugal in a legal and regulated manner and players are increasingly favoring betting on secure sites that inspire more confidence," authorities said.

The Ministry of Economy and Digital Transition issued a statement announcing that the first quarter of 2020 saw an increase in total online betting of around 50 percent compared to the same period in 2019.

This evolution, authorities say, is associated with the fact that six more licenses were issued to operators.

The data collected by the Gambling Regulation and Inspection Service (SRIJ), shows that "operators are interested in offering games in Portugal in a legal and regulated manner and players are increasingly favoring betting on secure sites that inspire more confidence."

The document adds that in the "evolution of the last quarter of 2019, compared to the first quarter of 2020, there is an increase in the volume of bets of only 7 percent, in the same period two more new licenses were issued."

"Finally, analyzing the monthly variation over the first quarter of 2020, there is a decrease in February of around - 6.4 percent and, in March, an increase of about 16.6 percent, thus verifying that the market and the players are behaving within the usual parameters and according to the evolution of the online game since its regulation in Portugal," continues the information provided by the Government.

The statement continued: "At the present time, the demand for online games can also result from the fact that confinement leads to a need to find substitute forms of entertainment and leisure which, in itself, is not likely to motivate unruly practices or an increase exponential risk of addiction."

The document also emphasizes the fact that the demand for online gambling in the regulated market is "very demonstrative of the fact that players identify this as a legal means that offers guarantees of reliability and security, where they can place their bets safely, protected and with confidence and having a regulatory body (the SRIJ) to which they can turn, if necessary."