Online poker operators in Portugal generated €3.4 million in revenue during the final quarter of 2018. Revenue from cash games and tournaments totaled €12.9 million in all of 2018, dropping more than 21% from the €16.4 million collected in 2017.
Tournament poker generated €1.1 million last quarter, surpassing the €1 million mark for only the third time since the market opened. The success of tournament poker in Portugal during the final three months of the year also represents the first time revenue figures from either cash games or tournaments posted a year-over-year gain since poker first launched in the country at the end of November 2016.
Cash game revenue for Q4 dropped nearly 28% on an annual basis.
Estimated monthly revenue figures show that poker revenue rose steadily throughout the quarter but surged in the final month of the year.
Portugal joined the European shared liquidity pool mid-year, but only tournaments are shared with France and Spain, providing an explanation for the recent success of the tournament format in the country over its ring game counterpart.
In the Games of Chance category, which includes slots and table games in addition to poker, Q4 2018 represented the best quarter on record, with the final two months each setting new all-time records.
62% of all revenue from the Games of Chance category (including poker) was generated by online slots. Cash game poker accounted for 11%, while tournament poker made up 5.3% of total revenue from the category.
Revenue from sports betting dipped sharply in December posting only €6.5 million after October and November posted €7.4 million and €7.7 million respectively.