Market Monitor: Portugal Q4 and FY 2019
Key Takeaways
  • Online poker revenue in the regulated market of Portugal took another tumble in Q4 2019 to €3 million.
  • This decline comes despite the second operator going live in the market mid-year.
  • Cash games performed better than tournaments in Q4.
  • Non-poker casino was up 60% to €96 million.

Online poker revenue in the regulated market of Portugal took another tumble in Q4 2019 to €3 million, down 12.2% year-over-year.

For the year as a whole, online poker generated €12.1 million, down 6.2% on the €12.9 million generated last year and 26% lower than the first full year revenue reported in 2017.

This decline comes despite the second operator going live in the market mid-year.

Cash games performed better than tournaments in Q4, with the former falling 8% and the latter down a precipitous 21%. This difference is surprising given that, on PokerStars’ Portuguese site, tournaments are connected to the Southern European market, whereas cash ring games are segregated.

Market revenue from both sports and casino games continued to hit new highs last quarter, with both crossing €30 million for the first time in market history.

Across 2019, sports betting generated €107 million, up 36%. Revenue from non-poker casino games was up 60% to €96 million.

Poker’s share of the online gambling market in Portugal has now slipped to below 10% for the first time. When the market first opened, it represented a third of all revenue.