Online Gambling in Portugal Soars in Q3 2024: Revenue Jumps 23.7%

Portugal’s online gambling market experienced significant growth in the third quarter of 2024, according to a report from the Serviço de Regulação e Inspeção e Jogos (SRIJ). The sector saw a surge in revenue, new licenses, and player registrations, indicating a thriving industry.

New Licenses Fuel Expansion

During the quarter, the SRIJ issued 30 new licenses. 13 of these licenses were for fixed-odds sports betting, while 17 were for games of chance. This influx of new operators likely contributed to the overall growth of the market.

Revenue Reaches €266.3 Million

The online gambling and betting sector generated a gross revenue of €266.3 million during the third quarter. This represents a substantial 23.7% increase compared to the same period last year. Games of chance accounted for the majority of the revenue (65.7%), while fixed-odds sports betting contributed 34.3%.

Tax Revenue and Player Growth

The growth in online gambling activity also resulted in a significant increase in tax revenue. The Special Online Gaming Tax (IEJO) saw a 27.5% rise, reaching €82.6 million. The number of players also increased, with a total of 4.6 million players (up 16.9%) and 269,800 new registrations (up 31.5%). The number of active players reached 1.2 million (up 27.8%).

Unfortunately, the number of self-excluded players also increased by 40.5%, reaching a total of 276,200.

Football Dominates Sports Betting

Football remains the most popular sport for fixed-odds betting, accounting for 72.7% of all bets. The Primeira Liga (Portugal’s top league) and La Liga (Spain’s top league) are the primary focus for bettors. Tennis is the second most popular sport, with 21.2% of bets, particularly on the US Open and Wimbledon Open.

Games of Chance Preferences

Within the games of chance category, slot machines are the most popular, representing 80.4% of the total. French Roulette accounts for 6.1%, French Bank 5.5%, and Blackjack/21 4.5%.

Demographics of Online Gamblers

The majority of online gamblers in Portugal are under 45 years old, with 78.7% falling into this age group. The largest segment is between 25 and 34 years old, representing 34.3% of all registered players. The 18-24 and 35-44 age groups each account for 22.2%.

Lisbon continues to be the city with the most players (21.3%), followed closely by Porto (21.2%). Portuguese nationals make up 95% of all bettors, with Brazilians accounting for 51% of the remaining 5%.

Key Takeaways

• Online gambling revenue in Portugal increased by 23.7% in Q3 2024.
• 30 new licenses were issued, boosting market competition.
• Football dominates sports betting, while slot machines are the most popular game of chance.
• Most online gamblers are under 45, with the 25-34 age group being the largest.