Online gambling in Portugal continues to thrive, with revenue hitting a record €261.8m (£223.1m/$289.2m) in the second quarter of 2024. This marks the eighth consecutive quarter in which the industry has set a new revenue record, surpassing the previous high of €260.8m achieved in Q1. According to Portugal’s gambling regulator’s, Serviço de Regulação e Inspeção de Jogos (SRIJ), official revenue report Registo da atividade de jogo online em Portugal | Relatório 2º trimestre 2024 [pdf], this represents a 27.2% increase compared to Q2 2023.

Online Casinos Dominate Portugal’s Gambling Landscape

Online casinos remain the dominant force in Portugal’s gambling market. In Q2, online casino games generated €158.5m in revenue, up 29.9% from €122.0m in the same quarter last year. However, this figure represents a slight decline from the €160.3m recorded in Q1. Players wagered a total of €4.37bn on online casino games during the quarter, a 34.7% year-on-year increase and 0.4% higher than the previous quarter.

Slots continue to be the most popular online casino game, accounting for 82.3% of all wagers. French roulette followed with 6.5%, and blackjack contributed 4.9%. The remaining wagers were spread across dice games and poker.

Sports Betting Revenue Sees Annual Growth, Euro 2024 Impact Limited

Portugal’s online sports betting sector also experienced growth, with revenue reaching €103.3m in Q2, a 23.1% increase from the previous year. This figure is slightly higher than the €100.6m generated in Q1 2024. Players spent €462.3m on sports bets during the quarter, marking a 29.3% increase from Q2 2023. Despite the start of the Euro 2024 tournament towards the end of the quarter, sports betting spending was 19.5% lower than in Q1.

Football remained the most popular sport for betting, accounting for 69.3% of all sports wagers. Tennis followed with 19.9%, basketball with 6.8%, and other sports made up 4.1%.

New Registrations and Self-Exclusions on the Rise

The quarter also saw a rise in new online gambling registrations, with 287,600 customers signing up for accounts. However, 136,800 people canceled their accounts during the same period. By the end of Q2, over 4.4 million active online gambling accounts were registered in Portugal.

Additionally, self-exclusions increased, with 47,300 consumers choosing to block themselves from gambling. This brought the total number of self-excluded players to 256,900 by the end of June. The SRIJ also took action against illegal gambling, sending closure notifications to 38 websites operating without a license in Portugal.

Land-Based Gambling Faces Decline

In contrast to the booming online sector, Portugal’s land-based gambling industry saw a downturn in Q2. Total revenue for the sector was €63.7m, a 4.5% drop compared to last year. Physical slot machines, which make up 78.4% of the sector’s revenue, saw a slight increase of 0.8%, reaching €50.0m. However, revenue from casino-style games and bingo fell by 19.9% to €13.8m, with declines across baccarat, blackjack, and American roulette.

Challenges from Illegal Operators

Despite the growth in the licensed online gambling market, Portugal is facing increasing challenges from illegal operators. The Portuguese Online Gambling and Betting Association recently highlighted an “imminent danger to user safety,” as a survey revealed that 41% of players in Portugal use unlicensed platforms. This figure rises to 52.1% among the 18-34 age group. Licensed operators, subject to heavy taxes—including an 8% turnover tax for sports betting and a 25% gross gaming revenue tax for online casinos—continue to face stiff competition from these illegal sites. The Association has previously filed criminal complaints against social media influencers promoting unlicensed gambling platforms.

Source:

“Portugal Online Gambling Revenue Hits Record €261.8M in Q2 2024.”, igamingbusiness.com, August 19, 2024.

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