Market Monitor: Portugal Q2 and Q3 2020

Online poker in Portugal surged in Q2, up 89% year-over-year, and subsequently fell back down to earth in Q3, dropping 10%, the latest figures released from the regulator show.

The two quarters, released in tandem by the regulator earlier this month, chart a market that enjoyed a huge first half to 2020 during the initial lockdown of the coronavirus, but has not extended into the second half.

Third quarter data show the two operators in the market, PokerStars and 888poker, generated just €2.8 million in revenue combined, the lowest quarter since the market first opened four years ago.

Sports, on the other hand, fully recovered in Q3 and suggest a lot of player spend flowed from poker back to this vertical. Revenue of €42.5 million means more money was made from online sports betting than all casino games, including poker, combined.

Among casino games, slots titles continue to dominate, generating €29.3 million in revenue in Q3, up more than 50% year-over-year. Q2 set a market high of €30.5 million. It represents 70% of the online casino market.