Due to Covid-19 and subsequent lockdowns, many people are spending more time online. Before the pandemic, Europe’s online gambling revenue was estimated to reach €24.7 billion before 2020 through a combination of sports betting, online lotteries, and online casinos. Author Martim Nabeiro shares with us some interesting facts about the casino industry trends Portugal is seeing.
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Portugal has seen a considerable increase in online gambling in recent times. Casino gaming industry trends have been favourable for 2020. Let’s take a look at some popular trends happening in Portugal:
- Online gambling in Portugal generated nearly €139 million in revenue in the first half of 2020, an increase of 44.2% from the same period last year. It saw a surge in activity during the second quarter, as many people tried to alleviate boredom during the pandemic.
- The online market started 2020 on a firm footing, setting a record high revenue of €69.8 million. This happened despite many major sports being suspended due to Covid-19.
- Sports bets yielded €90.7 million in turnover in the second quarter, €58.3 million less than Q1. Sports bettings turnover fell in April and then recovered again in June.
- Online casino revenue, including poker, increased by €13.1 million, with turnover spiking to €1.33 billion. In the first six months of 2020, turnover for online casinos leapt 74.4%.
- Slots comprised the majority of online gambling, but its share fell in April even though online spending had peaked. In the same month, online poker hit a new high before returning to normal in June.
- In March, the number of new registrations peaked at 60000. There were 53200 in April, and June had 43600 new sign-ups.
- In April, the Portuguese government signed off on legislation that would limit access to gaming platforms online. However, the state of emergency ended before the ministry could act.
- The market added a new online casino contender, granting Bidluck SA a permit for its website, Bidluck.pt.
Based on the current casino industry analysis, Portugal is showing positive signs for the year so far. International technology trends are receiving more focus and look set to change the industry. Here are a few popular tech trends to watch out for in 2020:
Players can play their favourite games in a virtual casino environment.
Artificial Intelligence is vital in the casino and gaming industry. Casino websites use AI for analysing frequently played games and other player preferences. It’s also used in technical support environments, with bots programmed to answer queries from players.
Here are two methods of Artificial Intelligence that can apply in online casinos:
AI can track cheaters and detect fraudulent behaviour using software that monitors betting patterns.
AI can be used to monitor player behaviour. It has the potential to determine if online gamblers have a compulsive gambling problem, and what stage the addiction is in.
Portugal’s online casino industry began the year with a rocky start but managed to recover by mid-year. While still an uncertain time, 2020 looks to bear favourable tidings for both Portugal and the international market in the coming months.