BacanaPlay: The Evolution of Gaming in Portugal and Room for Growth

The Portuguese gaming market retains a considerable margin for expansion, according to Pedro Miguel Garcia, Country Manager for Portugal at BacanaPlay. Although Portugal is already a relatively mature regulated environment, the advance of online casinos and expectations for regulatory openings, especially towards products like Live Casino, outline new growth paths focusing on innovation and user experience.

Growth Potential: Evolution Beyond New Operators

Garcia identifies that the greatest growth potential for the next three to five years will reside in product evolution and innovation, not just in adding more operators. The market, although burdened with a demanding tax framework on sports betting, continues to attract new players, thus favoring greater competition. The executive highlights that the key lies in allowing for greater diversity of products and features, aligning the Portuguese market with more developed European counterparts.

In Garcia's words:

"The opportunity lies less in expanding the number of operators and more in broadening what licensed operators can offer, always maintaining high standards of player protection."

The possible regulatory easing around products like Live Casino and greater innovation within existing verticals could mark the beginning of a new phase of sector development.

Online Casino Leadership and Player Consumption Trends

The online casino is the primary engine of growth, representing approximately 63% of the online GGR in Portugal, compared to 37% for sports betting. This ratio positions casinos as the dominant vertical and reflects a common pattern in mature markets. The market is evolving with the addition of new formats such as crash games, which, although gaining traction, have not yet reached the relevance observed in Brazil.

Garcia observes that the demand trend is shifting towards more immersive and participatory products. Live Casino is viewed as a potential catalyst: it combines the traditional casino experience with interactivity and entertainment, a format that could connect with local preferences if regulation permits.

Differentiated Taxation and Commercial Management in Betting and Casino

One of the structural challenges of the Portuguese sector lies in the distinct tax base between verticals. Sports betting is taxed on business volume, while online casinos are taxed on GGR. This design affects margins, promotional investment, and bonus policies, requiring operators to adjust their customer acquisition and retention strategies.

Cross-selling becomes relevant: a significant part of the player base interacts with both betting and casino, so designing a seamless transition between verticals can maximize profitability. For Garcia, the challenge is to build a "balanced ecosystem" where both verticals complement each other and the tax complexity is managed as an intrinsic part of the business model.

Player Protection and Responsible Gaming as Regulatory Priorities

Increases in self-exclusion rates should not be directly interpreted as a rise in gambling problems, Garcia points out. The increase may stem from better awareness and accessibility of tools as well as reinforced communication from operators and the regulator. Monitoring this data, along with other indicators, is crucial for identifying risk patterns in a timely manner. For the market to be sustainable, player protection and commercial growth must be viewed as complementary objectives rather than mutually exclusive.

The Portuguese Market Facing Regulatory Challenges and Particularities

Compared to other European markets, Portugal does not face a unique challenge, but it does have regulatory particularities that require adaptation, such as for Cash Out products. Garcia emphasizes that best practices from more developed markets can be transferred to Portugal when the regulatory framework allows, while also highlighting the importance of local knowledge to ensure effective adaptation.

Addressing the Black Market from the Regulated Sector

The rise of the black market, referred to as a "plague" by the Minister of Economy, is one of the greatest threats both commercially and for consumer protection. Garcia emphasizes that increasing restrictions on regulated gaming is not the solution; rather, he advocates for a responsible advertising system that highlights licensed brands, enhancing player education to identify legal operators, and fostering close collaboration among operators, regulators, payment providers, media, and industry associations to hinder illegal operators' access.

Attractiveness and Sustainability Factors of the Portuguese Market

Portugal has solid foundations to remain attractive within the European landscape: it is a consolidated regulated market with a growth track record and opportunities for developing new products. For operators with multinational strategies, regulatory stability and predictability are vital. The market must balance taxation, player protection, innovation, and competitiveness to avoid creating gaps against unregulated markets that encourage player migration.

The Role of the SBC Summit and Sector Collaboration

For Garcia, the SBC Summit is one of the most relevant global meetings, combining business vision, networking opportunities, and practical learning about trends, technologies, and applied regulatory solutions. The event serves as a space to capture ideas, strengthen relationships, and rethink strategies with a realistic focus on the sector's challenges.