Online Gambling Bets Surge 31% to €20B+ in a Year
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Online Gambling Surges in Portugal: A Look at the Numbers
Portugal’s online gambling market is experiencing a significant boom, with bets soaring by 31% in 2024, exceeding €20 billion. This surge is largely driven by online slot machines, which account for a staggering 73.2% of all bets, totaling €15.217 billion, according to data from the Serviço de Regulação e Inspeção de Jogos (SRIJ).
Key Drivers of Growth
- Increased Enthusiasm: The SRIJ attributes this growth to a heightened national interest in games of chance.
- Double the Volume: The current figures are nearly double what was recorded just two years ago.
- Definition of “Bets”: The “montante total” includes direct deposits, promotional bonuses, and reinvested winnings.
Sports Betting Also on the Rise
While online slot machines dominate, sports betting is also experiencing growth. Bets on sports increased by 19.2%, reaching €2.053 billion. Football remains the most popular sport for betting, accounting for €1.4876 billion of the total.
Football Betting Breakdown
- Primeira Liga Dominance: The Portuguese Primeira Liga is the most attractive league for bettors, representing 10.9% of all sports bets, equivalent to €162.1 million (a 20.7% increase).
- Premier League and Champions League: These leagues follow in popularity.
Revenue Growth for Gambling Companies
The surge in online gambling has translated into significant revenue increases for companies operating in the sector.
- Sports Betting Companies: These companies saw a revenue increase of 33.6% in 2024, reaching €433.4 million.
- Games of Chance Companies: These companies reported a revenue increase of 30.3%, totaling €678.5 million.
Combating Illegal Gambling
Authorities are actively working to combat illegal online gambling activities.
Crackdown on Illegal Sites
- Site Closures: In the last three months of 2024, 41 websites were flagged for closure.
- ISP Blocking: 112 notifications were issued to Internet Service Providers (ISPs) to block access to illegal gambling sites.
- Legal Action: Five cases were referred to the Ministério Público (Public Prosecutor’s Office).
- Ongoing Efforts: Since the implementation of the online gambling law, 43 cases have been referred to the Ministério Público.
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