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Portugal announces record gambling revenue for final quarter of 2017

Portugal announces record gambling revenue for final quarter of 2017

LISBON: Latest figures from the gambling regulatory body of Portugal shows that the nation’s market enjoyed record revenue in the final financial quarter of 2017, largely credited to a surge in sports betting.

Overall, Portuguese gambling generated €122.6m in online gambling revenue during the first full year of new regulation in the country. A 12% sports betting turnover tax led to the Iberian state’s government taking in €54.2m of this amount.

Sports wagering was the main source of income for operators in Portugal during 2017, with revenue generated reaching €68.1m. Unsurprisingly, football accounted for over three quarters of these bets.