iGB E-zines iGB e-zine Portugal | Page 14

Part 2: Portugal by numbers that if gaming GGR maintains the levels achieved in the last three quarters, then a total of between €60m to €70m would appear to be achievable for 2018. As with sports betting, the effect of new market entrants and the rest of the football World Cup will doubtless have a big influence on that end of year number. are the largest product overall at 56%. Poker, both cash poker and the tournament variety, are worth a combined 20% of the gaming market (see Chart 10). At present, PokerStars remains the only poker provider in the market. On these percentages, poker was worth circa €3.3m in the second quarter. Casino by product Online market share assessment The figures from SRIJ also break down the gaming segment by product. As can be seen, slots Within sports betting, we can assume that Betclic is the market leader followed by Bet.pt, but we Chart 10: Portugal online gaming by product 2Q18 (%) Tournament poker 5% Cash poker 15% Blackjack 9% Slots 56% Roulette 15% Source: SRIJ Chart 11: Estimated market shares 1Q18 Estoril Sol 22% Betclic 35% Source: SRIJ 14 PokerStars 8% Others 35% have no estimates on market share from either one. However, Casino Estoril’s parent, the listed Estoril Sol, provides some market share evidence in its first quarter interim results statement. The company shows that in the first quarter, it made a total of €5.5m from total gaming (ex-poker) market GGR of €13.4m, equating to a 41% market share. Meanwhile, in sports the company calculates it made €1.7m from a market total of €17.4m. In total, Estoril Sol achieved a GGR of €7.2m in the first quarter, or 21% of the total. However, the regulator has since adjusted down gaming GGR for the first quarter, as we have seen, to €15.5m, bringing the total market GGR down to €32.9m. On the assumption that Estoril Sol’s revenues haven’t been marked down in sympathy, it means that its total market share in the first quarter stood at close on 22%. Staying with the first quarter, we know that poker was worth €2.8m or 8.5% of the total. Meanwhile, sources suggest that Betclic was worth around 35% of the first quarter total or €11.5m. Hence our market share breakdown in Chart 11, current as of the first quarter. Where the SAS venture Placard. pt will sit in the ecosystem will be one debating point for the future, as will be the fate of any other new entrants such as the aforementioned Luckia. It is likely the first of these, in particular, will grow the market as well as potentially grab market share. In this, much will depend on the marketing efforts. Portugal: The challenges and potential in one of Europe’s most controversial markets