The Rise of iGaming in Portugal: A Booming Industry

iGaming, encompassing both real-money and social games, has become a popular pastime for many in Portugal. This industry is experiencing significant growth, impacting both the economy and the leisure activities of its citizens.

A Multi-Million Euro Industry

iGaming in Portugal represents a substantial financial influx for the country. According to the Serviço de Regulação e Inspeção de Jogos (SRIJ), the regulatory body, the last quarter of 2023 alone saw gross revenues of €215.3 million. While concerns exist regarding potential gambling addiction, the industry’s financial contributions are undeniable.

So, what exactly is iGaming? It’s essentially the world of online games of chance, including online casino games like poker, slot machines, and sports betting.

Key Growth Indicators

Expert Vitoria Oliveira analyzed data from the SRIJ to highlight the growth of iGaming in Portugal:

• 17 entities are currently operating games of chance.
• The number of bettors is on the rise, currently standing at 920,000.
• The industry has seen six consecutive quarters of growth since 2021.

Casino Games Dominate

SRIJ data clearly indicates that casino games are driving the growth, unlike sports betting, which has seen a decline in revenue. In 2023, casino game revenue surpassed 2022 figures by over 50%, representing an increase of €133 million.

Sports Betting Faces Challenges

Despite the increasing presence of iGaming platforms in the digital world and their association with sports competitions, particularly in the Portuguese league, sports betting is losing momentum.

João Paulo Correia, the Secretary of State for Sports, has stated that “the relationship between advertising for these platforms and football deserves deep reflection.” This suggests potential future changes in the iGaming landscape, possibly impacting partnerships with clubs and advertising within football stadiums.

Football Remains a Key Element

Despite the challenges, football remains the most popular sport for betting in Portugal, accounting for 71.4% of the total betting volume, followed by tennis at 22.2%.

Slot Machines Lead Casino Growth

Slot machines are the primary driver of growth in both online and land-based casinos, representing 82.3% of the total betting volume in this segment.

The Future of iGaming in Portugal

The latest SRIJ report indicates a clear trend towards slot machines as the preferred game among bettors. This trend is particularly strong among young adults aged 25 to 34, who contribute significantly to the total amount spent on iGaming across the 17 licensed platforms.

The future likely holds continued growth for casino games, both online and in physical locations, with a gradual shift towards normalizing this form of entertainment.

Prioritizing Security

Combating illegal activities will remain a crucial aspect of iGaming’s future in Portugal. Regulatory bodies are working to ensure user safety, with over 1590 websites blocked by ISPs since 2015.

Furthermore, efforts are underway to control advertising, with over 700 ads already blocked, to ensure that all games of chance and their users are engaging with a legal and trustworthy service.

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