The Portugal iGaming market has had a good year in 2020. The best way to see how good exactly though would probably be to turn to the string of partnerships signed this year. While 2021 started on a strong foot, with 888casino teaming up with Pariplay, there have been numerous other developments in the Country.
Expansions and Partnerships
Portugal has always been known as a tacit but high-performing market in Europe. Characterized by strict gambling laws and high consumer interest, the iGaming market in the country has often been regarded with interest by mainstream brands whose commitment to regulated markets has been unflagging.
And so, in 2020 we saw several important partnerships for the country, with Digitain confirming an expansion in Portugal, ensuring a new generation of sportsbook and iGaming software giving the country a flying start.
In March, OnlineCasinosPortugal decided to tap a new supplier of content with Synot bolstering the already impressive selection of games available at the operator. Stakelogic then decided to make its own claim on the country in April and launched ahead, extending its services to local operators.
Perhaps one of the most noteworthy entries in the country, though, was Soft2Bet, with the company’s expansion strategy focusing on the high-performing Portuguese iGaming market. Greentube and BF Games then both struck partnerships in June and August respectively and added to the game variety in the country.
Not least, the year ended with an entry from SkillOnNet in October via BacanaPlay. While not too many partnerships perhaps, Portugal has continued to signal that it’s a top-destination for gambling products in 2020, and the trend is very likely to remain unchanged in 2021.
Look at the Numbers First
To fully comprehend how far Portugal has taken matters, you ought to look at the newly-announced Q3 iGaming numbers the country posted earlier in January. The outlook looks promising, but even more importantly, the third quarter results are quite important as they have helped bring a lot of clarity in what to expect from Portugal and how the market performs.
Online gambling revenue for the quarter ending on September 30, 2020 was €84.2 million which was 55.6% increase year-over-year. This comes in a particularly difficult context of a global pandemic.
Yet, the pandemic was not all bad news for the country’s iGaming sector. Traditionally, most Portuguese players prefer to engage with products on the go. While the country’s love for sports betting is undeniable, there has been an increase in iGaming activities.
Presently, the country holds 24 licenses that operate under governmental sanction, leading to verifiable transactions, tax payments and overall better consumer protection. Speaking of consumers, some 156,000 consumers have registered in Q3, one of the highest numbers so far in terms of new player registrations.
Sports events were naturally not too great, because of the pandemic, but they are resurgent once again. The main winner of the pandemic is the iGaming sector which has been enjoying renewed interest from all concerned parties.
Are more partnerships coming in 2021? It has already started. This year, though, it would be interesting to expand the scope to both sports betting and iGaming partnerships. Another market that Portugal is only getting started with is online poker, which also has a lot to offer.