Out of 609 local online gamblers in Portugal, 56% have made a wager with an internationally-licensed online gambling site this year. The regulated online betting market in Portugal began in 2016. But of course, because of international online gambling sites, locals have been able to enjoy wagering for a much longer time. Let’s take a look at how online gambling in Portugal is developing.
Online Gambling in Portugal
Online gambling, especially sports betting, contributes well to the increase in revenue for the gambling industry. The convenience of placing bets through a site or an app helps in boosting casino and sports betting. Bettors like the ease of depositing money, placing bets, and withdrawing their winnings without having to leave home. In addition, pay per head sites are also helping people to become a bookie through online sportsbook software.
The Portuguese government prefers their residents to register and sign up with local operators. Of course, supporting local business is a priority. As well as to generate revenues from the taxes they can collect from wagers. This comes as a challenge, as Portugal is known to have one of the highest tax rates within the European Union.
This could be a reason why over half of the country’s gamblers place wagers on international operators. Punters would want to get the best value for their money. Plus, they can get more profitable options from outside the country. As for those who want to get into the sports betting industry, being a pay per head bookie is definitely more affordable. After all, the variety of betting markets that is offered by international gambling companies are wider. Again, this gives locals more wagering options.
But the survey that released this numbers, which was made by the country’s gambling regulatory agency, also shows an upswing in the local regulated market. The second quarter numbers for 2019 gives us a 29.5% year-on-year increase. This amounts to €48.3 million in just Q2. Much of the credit for the rise in revenue is what analysts attribute to an increase in online casino activity.