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Portugal Announces Second Licensed Online Sports Betting Operator

Malta-based Bet Entertainment Technologies Ltd has officially been announced as the second ever online sports betting operator to be awarded a license under Portugal’s new online gambling licensing regime.

Bet Entertainment Technologies will be offering its services to Portuguese customers on www.bet.pt, a domain which operates on a platform provided by SBTech.

Serviço de Regulação e Inspeção de Jogos (SRIJ), the Portuguese regulator, granted the first license to offer regulated online games to a French operator, Betclic Everest Group, at the end of May.

With Santa Casa da Misericórdia de Lisboa, the Portuguese lottery operator, and the land-based Solverde casino having reportedly expressed interest in launching online operations, Bet Entertainment has commented that it “intends to secure its place of reference in the Portuguese market.”

In June 2015, Portugal introduced its new legislative framework for online gambling, which led to the withdrawal of operators such as Betfair and William Hill.

With the current SRIJ plan to share liquidity with other regulated online poker markets requiring the assent of the European Commission and a 3-4 month period to allow other EU members to comment on the regulations proposed, online poker card rooms Full Tilt and PokerStars will have to wait longer to re-enter the country.

“We selected SBTech because of their innovative, award-winning and comprehensive Sportsbetting and iGaming solutions which address all market challenges and regulatory requirements,” says Ricardo Silva, CEO at Bet.pt. “SBTech’s offering will undoubtedly give us unique competitive edge and a source for growth, extending our offering even further within the Portuguese market.”

“This partnership is testimony to SBTech’s credibility and the excellence of our localised offerings in regulated markets,” comments Richard Carter, CEO at SBTech. It establishes us as the first B2B Sportsbetting supplier to the Portuguese online gaming industry.” 

Bet365 Increases its Grip on Italy’s Online Sports Betting Market

According to new estimates released by the AGIMEG news agency, Bet365, online gambling operator, has tightened its grip on Italy’s regulated sports betting market.

In the month of May, Italy’s overall sports betting market took in wagers of €562.4million; 15% higher than the same month last year. Sports betting turnover totalled to €2.9billion for the year-to-date, up from €2.5billion in the first five months of 2015, with online wagering accounting for €1.6billion of 2016’s total.

In may, total online wagers were up nearly one third at €317.4million, of which Bet365 claimed just below €120million for a share of 37.1%; a 1.4 point improvement over its Q1 share. Bet365’s total was enough to make it the top overall betting operator, easily shadowing SNAI–Cogetech Group’s combined online/retail total of €80million.

With €32million, Gala Coral Group’s Eurobet brand ranked a distant second on the online chart, well ahead of SISAL’s third placement with €23.9million, while SNAI’s €21.5million edged out William Hill by a mere €200k.

SNAI-Cogetech Group was the retail betting leader with €58.4million, while Lottomatica placed second with €41.4million, with Eurobet not too far behind with €39.5million.

With wagers totalling €95.3million, the second highest total this year following January, May was a strong month for virtual betting products. Betting exchanges were only approved in 2014 in Italy, but despite the relatively small base, this year has shown strong growth. In May, exchange wagers totalled around €400k, but the year-to-date number is up by more than a third over the first five months of 2015.

Bet365 will also be showcasing at SiGMA16, Malta’s biggest upcoming gaming event of the year this November. If you would like to come and see Bet365 along with other exhibitors at this iGaming summit, click here to register.

BET365 Dominates Italy’s Online Sports Betting Market

Bet365 carries on dominating Italy’s online sports betting market, according to new stats based on 2016’s first quarter.

Agimeg.it, an Italian gaming news website, reports that Bet365 gathered more than one-third of all online sports wagers managed by Italian-licensed operators in the three months ending March 31, roughly equal to Bet365’s performance on the FY15 charts.

Italian-licensed operators announced total sports wagers of €970m in Q1, of which €346.2m (35.7%) was wagered with Bet365’s local site. Gala Coral Group’s Eurobet brand was a very distant second with €101.3m (10.4%), while William Hill took third place with €75.9m (7.8%).

The remaining online top-10 read as follows: Sisal €71.3m (7.3%), SNAI-Cogetech €68.4m (7%), Lottomatica €50.4m (5.2%), Paddy Power €45.2m (4.7%), Bwin €44m (4.5%), GoldBet €33m (3.4%) and Unibet €13.8m (1.4%).
Bet365 also unsurprisingly scored top marks on the list of sites providing the best value for punters, with an average payout of 94.8%, followed by Unibet (93.5%) and William Hill (93%). At the other end of the scale, the worst places to wager were Goldbet and SNAI-Cogetech, with reports on the site of average payout ratios of 85.5% and 86%, respectively.

Although Agimeg didn’t break out individual operator stats for the virtual betting sector, it did mention that virtual wagering revenue improved by 11% from Q1 2015 to €47.2m, while the still nascent exchange betting vertical rose by 40% annually to €875k.

The land-based sports betting business handled wagers totaling €788m, €189.2m of which was handled by SNAI-Cogetech, while second place went to Lottomatica with €133.4m and Eurobet not far behind with €126.4m.

Sticking with land-based operations, Italy’s four casinos reported combined revenue of €76.4m in Q1, led by Casino di Venezia with €25.2m. Slots accounted for 62.4% of Q1 casino revenue.