Portugal’s Online Gambling Revenue Hits All-Time High

The latest report from Portugal’s gambling regulator, the Gaming Regulation and Inspection Service (SRIJ), has revealed that the online gambling revenue in the country continues to climb, reaching a new quarterly record. In the third quarter, Portugal raked in a total of €215.3 million in revenue, showing significant growth in the online gambling sector.

This figure represents a remarkable increase from the same quarter in 2022, which saw revenue of €158.2 million, marking a staggering 36.1% rise. Additionally, compared to the second quarter of 2023, where revenue reached €122.9 million, there was a 4.6% increase. The growth in revenue was predominantly driven by games of chance, with an annual increase of 50.5%, generating €133.4 million in revenue for the state. In fact, games of chance accounted for 62% of all online gambling revenue in the latest quarter.

Moreover, the report highlights a significant surge in total player spending on online games, reaching a record-breaking €3.65 billion during the quarter, marking a notable 47.2% increase. Slot games were the most preferred, capturing 82.3% of total spending, followed by Blackjack at 6.2%, and French roulette at 6.4%.

However, the report also reveals a contrasting trend in the sports betting sector, with a decline in popularity despite a year-on-year increase in revenue. The total revenue from sports betting in the third quarter reached €81.9 million, reflecting a 17.1% increase from the previous year. Nevertheless, there was a 2.5% decrease from the second quarter, raising concerns about the industry’s performance.

During this period, sports bettors spent a total of €390.5 million, marking a 12.1% increase from the same period in 2022. Football remained the most popular sport for betting, accounting for 71.4% of total wagers, followed by tennis at 22.2%, with other sports making up 6.4%.

Additionally, the report highlighted a significant increase in self-exclusions from online gambling, with 196,600 players opting out of gambling activities, representing a 42.5% annual increase. At the same time, 205,200 new accounts were created, with 97,800 accounts being canceled. Furthermore, the SRIJ closed 23 websites in the third quarter due to illegal gambling operations.

On the other hand, land-based casinos in Portugal also experienced a growth in revenue, reaching €76.1 million in the third quarter, representing a 14.0% increase from the same period in 2022. Slot machines were the primary revenue driver, earning €57.2 million and generating 75.1% of total quarterly revenue. Casino-style and bingo games also saw a significant increase in revenue, reaching €18.9 million, a 35.6% rise from the same quarter the previous year.

Overall, the report highlights the contrasting trends in the online gambling and sports betting sectors in Portugal, with substantial growth in the former and a noticeable decline in the latter. The increase in self-exclusions and closures of illegal gambling operations also point to an evolving landscape in the country’s gambling industry.