Date: 28.09.2023

by Mateusz Mazur

Portugal’s Online Gambling Revenue Hits Record €205.9 Million in Q2

In a remarkable surge, Portugal’s online gambling industry witnessed record-breaking revenue of €205.9 million (£179.1 million/$217.5 million) during the second quarter, primarily driven by the flourishing internet casino sector.


Portugal's Online Gambling Revenue Hits Record €205.9 Million in Q2 iGamingExpress

This figure marked a substantial increase from the €145.2 million earned in the same period last year and a 4.9% boost over the prior record of €196.4 million set in Q1 2023. Let’s explore the key factors behind this impressive growth.

Internet Casinos Dominating

A significant contributor to this impressive revenue was the thriving internet casino segment, accounting for €122.0 million in Q2. This marked a staggering 51.6% increase compared to the previous year and established a new record for the segment, according to Portugal’s Gaming Regulation and Inspection Service (SRIJ).

Portuguese players exhibited a strong appetite for internet casino games, with total spending reaching a remarkable €3.24 billion during Q2. Among these games, slot machines led the way, capturing 82.5% of the online casino spend. French roulette and blackjack followed, with 7.6% and 5.4%, respectively.

Sports Betting Insights

Despite the soaring popularity of internet casinos, sports betting continued to make a significant contribution, with revenues reaching €84.0 million, reflecting a substantial 29.8% increase compared to the previous year. However, it’s worth noting that this figure represented a slight decline from the first quarter of this year.

Football remained the favored choice for sports bettors in Q2, accounting for a substantial 68.4% of all bets. Tennis followed at 20.1%, basketball at 7.4%, and other sports at 4.1%.

Challenges and Self-Exclusions

The Gaming Regulation and Inspection Service (SRIJ) also shared data on self-exclusions from online gambling. By the end of Q2, a noteworthy 181,600 individuals had voluntarily blocked themselves from gambling on licensed sites in Portugal. During the quarter alone, 33,800 people chose to self-exclude.

Despite self-exclusions, the number of new account registrations with licensed operators remained robust, totaling 190,200 in Q2. This meant that by the end of the quarter, approximately 3.8 million individuals held online gambling accounts with SRIJ-approved websites.

Portugal’s online gambling industry is experiencing a remarkable period of growth, with internet casinos leading the way in revenue generation. While sports betting remains resilient, the challenges of declining revenue in this sector and increasing self-exclusions highlight the need for continued responsible gaming practices. As the industry evolves, it will be intriguing to see how these trends develop in the coming quarters.