Online Gambling Revenues In Portugal Hit New Heights In Q4 – iGaming Post
The latest report from the Gambling Regulation and Inspection Service (SRIJ) in Portugal highlights an impressive surge in the online gambling sector, with gross revenue reaching €323 million (approximately $366 million) in Q4 2024. This remarkable figure represents a 42.1% year-over-year increase, underscoring the robust growth trajectory of the industry.
### Surge in Online Sports Betting
A significant driver of this revenue growth is the online sports betting segment. In Q4 alone, sports wagering generated €138.3 million (around $157 million), nearly doubling the revenue from the same quarter in 2023. This trend reflects a growing enthusiasm among bettors, particularly in football, which remains the most popular sport for wagering.
### Remarkable Performance of Online Casinos
The online casino sector has also shown noteworthy results. Casino games, particularly online slots and roulette, contributed €184.6 million (approximately $209 million) to the overall revenue. This figure marks a nearly 20% increase year-over-year, highlighting the sustained allure of casino gaming among Portuguese players.
### Growth in Player Registrations
Accompanying the revenue boost is a substantial rise in new player registrations. Over 302,000 new accounts were created during the quarter, culminating in a total of nearly 4.72 million registered online players in Portugal. Of these, approximately 1.23 million players participated in at least one betting activity, reflecting a 12% increase compared to the previous year.
### Dominance of Football in Sports Betting
Football holds a commanding position in the sports betting market, accounting for 75% of all wagers placed. Major events—such as the UEFA Champions League, Portugal’s Primeira Liga, and the English Premier League—serve as significant draws for bettors, resulting in substantial engagement and revenue generation.
### Trends in Online Casino Gaming
Within the online casino arena, slot machines have emerged as the favored gaming option, representing over 80% of total online casino bets. Their widespread popularity is attributed to a diverse range of themes, engaging gameplay mechanics, and the potential for lucrative payouts.
### Focus on Responsible Gambling
As the online gambling market continues to grow, so does the emphasis on responsible gambling practices. By the close of 2024, over 292,000 individuals opted for self-exclusion from online gambling platforms—a 36% rise from the previous year. This development illustrates a heightened awareness of responsible gambling measures and underscores the importance of player protection.
### Comparison with Land-Based Gambling
While online gambling has experienced explosive growth, Portugal’s land-based gambling establishments have seen more moderate gains. In the same period, revenue from physical casinos rose by 12.5% year-over-year, reaching €72.6 million (approximately $82.2 million). However, it is noteworthy that this figure is still 4.3% lower than the revenue recorded in Q3 2024.
### Casino Game Performance in Physical Establishments
Slot machines also lead the land-based sector, generating €53.9 million (around $61 million). Additionally, casino table games and bingo collectively contributed €18.8 million (approximately $21.3 million), reflecting a 36.9% increase from the previous year. American roulette, in particular, stood out as the highest-earning game in physical casinos, bringing in €6.9 million (around $7.8 million) during Q4.
### Conclusion
The gambling landscape in Portugal is evolving at a rapid pace, driven by the dual forces of online and land-based sectors. As the industry continues its upward trajectory, a focus on responsible gambling practices will be paramount to ensure player protection and long-term sustainability. By keeping a pulse on trends and innovations, stakeholders can capitalize on this burgeoning market while prioritizing the safety and enjoyment of players.
