Portugal’s Online Gambling Revenue Soars to €1.1 Billion in 2024
Portugal’s online gambling sector is experiencing a significant boom, with gross gaming revenue (GGR) reaching a staggering €1.1 billion in 2024. This represents a remarkable 42% increase compared to the €850 million generated in 2023, according to the Serviço de Regulação e Inspeção de Jogos (SRIJ), the country’s gaming regulatory body.
Key Highlights:
- Record Revenue: €1.1 billion in gross gaming revenue in 2024.
- Significant Growth: 42% increase compared to 2023.
- Q4 Surge: €323 million in revenue during the last quarter of 2024.
- Digital Dominance: Online sector surpasses physical casinos in revenue for the first time.
The final quarter of 2024 alone saw a turnover of €323 million, highlighting the strong performance of the 17 licensed operators. This surge in online activity has propelled the digital sector ahead of traditional brick-and-mortar casinos in terms of revenue, marking a significant shift in the Portuguese gambling landscape.
Throughout the year, the online gambling market maintained a consistent growth trajectory, with quarterly revenues of €260.9 million, €261.8 million, and €266.3 million in the first, second, and third quarters, respectively. This consistent performance reflects an average quarterly growth rate of 20% since 2020.
Who are the Players?
The surge in revenue is accompanied by a notable increase in active player accounts. The total number of active accounts rose by 27.8% in the last quarter, reaching 4.7 million. A significant portion of these players falls within the younger demographic, with 22.1% aged between 18 and 24, and 33.9% in the 25-34 age bracket. This makes young adults the primary drivers of betting volume.
As of March 2025, the SRIJ reported 4.6 million registered users, a 16.9% increase compared to the previous year. This indicates a continuous expansion of the customer base. While games of chance remain the most popular, accounting for 57.2% of the market share, online poker, particularly Texas Hold’em and Omaha, is also showing strong performance.
These poker variants contributed 10% of the segment’s GGR, driven by the popularity of fast-paced tournaments and sit-and-go games on mobile platforms. Unlike slots, where outcomes are entirely random, poker rewards strategic play, leading to longer session times, as confirmed by SRIJ reports indicating an 18% longer average playtime for card games.
Regulation and Fiscal Impact
The Portuguese government benefits significantly from the online gambling boom through the Imposto Especial sobre o Jogo Online (IEJO), a special tax on online gambling. In 2024, the state collected €334.7 million in direct tax revenue from the sector. This revenue is generated by a 25% tax on the gross revenue of digital casino operators and between 8% and 16% on the margin of sports betting.
Part of this revenue is allocated to the Tourism Fund and initiatives aimed at preventing excessive gambling. The market share distribution is also evolving. SRIJ quarterly reports indicate that 60.5% of the revenue in the second quarter came from online casinos, compared to 39.5% from sports betting. This represents a shift from 2021, when football clearly dominated the digital landscape.
Experts from Deloitte note that each percentage point of growth in digital GGR adds €5 million to IEJO revenue. Consequently, the government is closely monitoring the sector’s evolution and considering adjustments to the contribution regime for 2026.
The combination of new game formats, 5G penetration, and instant payment methods is expected to keep online gambling among the most lucrative technology industries for the Portuguese public treasury. While 2024 closed with €1.1 billion in revenue, industry stakeholders anticipate continued growth.
A European report by EGBA/H2 Gambling Capital forecasts that online revenue in the EU will rise to €47.5 billion in 2025, an increase of nearly 8% compared to 2024. Portugal, representing approximately 2.7% of this market, is expected to keep pace, potentially reaching between €1.25 and €1.35 billion that year.
Innovation in Products
Licensed operators are preparing to launch live casino tables in 8K resolution, instant-resolution “crash” games, and eSports betting options. These segments already account for 2.8% of the GGR and are projected to double by December.
The adoption of these formats is driven by demand from users aged 18-34, who value interactivity and shorter game cycles. Platforms are responding by integrating augmented reality and real-time statistics to maintain average session times above 25 minutes.
Online gambling is increasingly a mobile phenomenon. ANACOM, the Portuguese communications authority, reported 3.3 million 5G subscribers and a general penetration of 175.9 SIM cards per 100 inhabitants. This high broadband density means that over half of all bets are now placed on smartphones, aligning with the European average of 55% of bets on mobile devices.
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