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Ivo Doroteia, CEO of Sportingtech, discusses the growing importance of the betting market in Portugal and the country’s prospects for becoming an established presence in Europe

The Portuguese market is one that has often operated in the shadow of its Spanish neighbor. For good reason: a much larger country, it has a player base that eclipses that of Portugal and has always been historically more advanced in terms of the regulation of online gambling.

Prospects of a narrowing gap between the two emerged following the introduction of a regulated online framework in 2015, although optimism for positive change in Portugal initially met with skepticism. in equal measure. Opponents were inevitably wrong; Today the market growth is evident, with several leading operators performing in the region, even compared to other much larger European countries.

From my perspective, that was expected – Portugal’s land-based industry has always been robust, with physical casinos consistently posting good numbers for lottery and bingo, and the sports betting renaissance is just one another string at the bow market.

The past 18 months have seen a dramatic change in fortunes for the Portuguese market – figures from Q4 2020 show strong growth in gambling in the country, with sports betting in the lead. The growth can be attributed to a number of factors, including the Covid-induced lockdowns that have favored the shift from land to online and a change in tax policy in 2020 removing higher tax rates for betting and gaming. .

Whatever the cause, it is now clear that the presence of leading industrial players now makes Portugal an extremely attractive proposition, and no one is better placed to take advantage of this fact than Sportingtech, with its in-depth knowledge of the market and its diverse range of leading sports betting platforms.

Portugal is a country that has sport in its heart, and it now has an effective way to bet on it. Questions have been raised about the long-term viability of this growth, with some suggesting that a post-containment world will return to normal, with land betting taking precedence again.

I don’t agree with that sentiment – the ingredients for lasting success are very much present in Portugal and I see no reason to suggest that this market will be anything more than a bastion for sports betting on the world stage. The difficult battle of acquisition has already been won, retention is now the key directive of the market. Sportingtech’s Quantum Platform is in a good position to help. Quantum Power, for example, is designed to improve and drive both player acquisition and retention and is a fully localized product, with open APIs for full integration and customization.

The sharp increase in enrollment will stabilize over time, but that is to be expected. What the market needs to do to sustain the progress it has made is ensure stability with robust and scalable platforms. This, combined with high quality content and good UI / UX, will provide a viable framework for continuing current trends. This in turn would attract even more top operators who, once established with a proven platform like Quantum, could fuel the second wave of growth.

Online gambling in Portugal has now established itself, and with insistence. While proceeding with caution, the market must take constructive steps to consolidate its position as a potential cornerstone of European industry. Trusting platforms that have already proven themselves worthy of fueling growth, like Quantum, is one of those steps. The stage is set for this market to truly make its mark on the betting industry: underestimate it at your own risk.