Sports drives record Portugal online gambling revenue in Q4

Gross online gambling revenue in Portugal has reached an unprecedented €323 million (£271.5 million/$352.2 million) in Q4 2024, fueled by robust expansion in the nation’s sports betting sector.

This record-setting total, encompassing the three months ending on December 31, 2024, signifies a remarkable 42% increase over the previous year. Moreover, it eclipses the prior high of €266.3 million established in Q3 2024 by 21.3%.

In addition to this overall revenue surge, recent data released on March 18 by the Serviço de Regulação e Inspeção de Jogos (SRIJ) reveals exceptional performance across both the sports betting and online casino segments.

While the casino segment remained a strong revenue generator, it was the sports betting sector that truly excelled in Q4, showcasing impressive year-on-year growth.

Sports Betting Revenue Nearly Doubles in Q4

Diving deeper into the sports betting figures, this segment achieved revenue of €138.3 million, marking an astounding 90% year-on-year increase. This result significantly surpasses the €91.2 million recorded in Q3, representing a 51.7% growth.

This impressive growth trajectory occurred despite relatively stable player spending, with total bets reaching €533.7 million in Q4 compared to €532.1 million the prior year. Notably, this figure exceeds the €483.4 million wagered in Q3.

Football dominated betting preferences, capturing 75% of the total wagers. Tennis and basketball followed, with 10.5% and 10.2% respective shares, while other sports accounted for 4.3%.

Online Casino Revenue Increases by 19.5%

Turning our attention to the online casino sector, revenue soared to €184.6 million. This represents a 19.5% increase compared to Q4 2023 and a 5.5% rise from Q3.

Total expenditure on online casinos reached €5.15 billion during the quarter, showcasing a 21.1% increase from the prior year and a 5.6% growth from Q3.

Online slots emerged as the preferred choice among players, accounting for a staggering 80.2% of total wagers. Other popular games included the dice game French bank at 5.4%, French roulette at 5.3%, and blackjack at 4.8%.

Total Active Players in Portugal Exceeds 4.7 Million

Alongside financial metrics, the SRIJ also disclosed player behavior trends. Approximately 4.7 million individuals engaged in online gambling at some point during Q4, reflecting a 15% year-on-year increase.

In total, there were 614,800 new registrations during this period, a welcome 15% rise compared to 2023. The demographic most active in the online gambling space remains the 25 to 34 age group, despite the majority of new registrants falling within the 18 to 24 age bracket.

On the self-exclusion front, 16,200 players opted out of online gambling in Q4, bringing the total to 292,400 individuals who have chosen to self-exclude from this market.

Moreover, the SRIJ issued 41 closure notifications to online gambling websites found in violation of regulatory standards.

Mixed News from the Land-Based Gambling Sector

In the realm of land-based gambling, gross revenue rose 12.5% year-on-year to €72.6 million. However, this marks a decline of 4.3% compared to total revenues reported in Q3.

Slot machines emerged as the leading revenue source, generating €53.9 million in Q4, which represents a 4.8% increase from the previous year. The remaining revenue, totaling €18.8 million—a notable 36.9% increase—originated from casino-style and bingo games.

Within this latter category, American roulette contributed the most revenue at €6.9 million, although all sectors within land-based gambling demonstrated year-on-year growth.