Portuguese Online Gambling Market Surpasses €1bn in Annual Revenue
Portugal’s online gambling market generated €1.07bn in revenue in 2024, marking a 42 per cent increase compared to the previous year, according to the Serviço de Regulação e Inspeção de Jogos (SRIJ). The sector continues to expand, driven by strong growth in sports betting and a steady rise in games of chance.
Record-Breaking Betting and Revenue Growth
The total betting volume for the year reached €19.5bn, while player winnings amounted to €18.5bn. The final quarter of 2024 set a new record, with gross revenue climbing to €323m, a 41 per cent increase compared to the same period in 2023.
Sports betting revenue saw the most significant surge, rising by 90 per cent year-on-year to €138m in Q4. Games of chance generated €184m in revenue during the quarter, marking a 19.5 per cent increase from the previous year.
Increasing Market Participation
By the end of 2024, Portugal had 30 active online gambling licenses, with 13 dedicated to sports betting and 17 for games of chance. The number of active players reached 1.23 million, reflecting a 12 per cent increase from Q4 2023. The total number of registered players grew by 15 per cent to 4.7 million, with younger demographics dominating the market—78 per cent of players were under the age of 45.
Tax Contributions and Regulatory Landscape
Gambling taxes generated €357m in 2024, up by a third compared to 2023. Of this total, €153m came from sports betting, while games of chance contributed €203m. Both segments are taxed at a rate of 33 per cent on net revenue, underscoring the sector’s growing financial significance for the country.
While the online sector experienced double-digit growth, Portugal’s land-based gambling market saw only a slight increase of 0.67 per cent year-on-year, generating €272m in revenue. Slot machines continued to dominate, accounting for three-quarters of the total land-based revenue.
CIRSA Expands in Portugal
The year also saw notable market consolidation. In January, CIRSA completed its acquisition of CasinoPortugal, one of the country’s leading online gambling and sports betting operators. The deal, initiated in September, secured CIRSA a 68 per cent stake in CasinoPortugal, strengthening its foothold in the Portuguese market.