Record Growth for Portugal’s Online Gambling in Q3 2024

Online Gambling Revenues Surge

Online gambling was the undisputed leader in the Portuguese gaming industry for Q3 2024, generating €266.3 million in gross revenue. This represents a remarkable 23.7% increase compared to the same period in 2023. Notably, 65.7% of this revenue (€175.1 million) was derived from online casino games, marking a 31.2% year-over-year growth. Sports betting accounted for the remaining 34.3%, contributing €91.2 million, an 11.4% increase from Q3 2023.

Casino games continued to dominate the online sector, with slot machines leading the charge. These games alone accounted for 80.4% of the total casino revenue. Roulette followed at 6.1%, while card games like blackjack and poker made up smaller percentages.

Sports betting, while growing year-over-year, experienced an 11.7% decline compared to the previous quarter. Football retained its dominance, contributing 72.7% of all bets placed, with key events such as the UEFA Champions League and domestic competitions like Portugal’s Primeira Liga fueling activity. Tennis accounted for 21.2% of bets, driven by major tournaments such as the US Open and Wimbledon.

Player Demographics and Engagement

By September 2024, Portugal had 4.58 million registered players, a 16.9% increase compared to Q3 2023. Of these, 1.2 million accounts actively engaged in online gambling, up by 27.8% year-over-year. Younger demographics dominated the player base, with 34.3% aged between 25 and 34 and 22.2% between 18 and 24.

Regionally, Lisbon and Porto stood out as the leading hubs for player activity, collectively accounting for over 42% of all registered accounts. Interestingly, approximately 0.2% of players resided outside Portugal, underscoring the appeal of Portuguese-licensed platforms among expatriates.

Challenges for Land-Based Gambling

In stark contrast to the online sector’s robust growth, land-based gambling faced stagnation and decline. Total gross revenue for physical casinos and bingo halls amounted to €71.2 million, a slight 0.3% decrease compared to Q3 2023. Slot machines remained the primary revenue driver for these venues, contributing 68% of the total.

Bingo halls continued to struggle, with revenue declining by 2.8% to €6.2 million. These traditional venues face mounting pressure as players increasingly turn to online alternatives, which offer greater convenience and variety.

Regulatory Oversight and Responsible Gambling

The SRIJ’s regulatory activities remained pivotal in shaping the industry. During Q3 2024, 47 illegal operators received cease-and-desist notifications, while 133 unlicensed websites were blocked. Since the implementation of the regulatory framework in 2015, over 1,330 illegal operators have been targeted, reinforcing the SRIJ’s commitment to maintaining market integrity.

Responsible gambling also saw increased attention. By the end of the quarter, 276,200 players had self-excluded from online gambling platforms, representing a 40.5% increase from the previous year. This highlights growing player awareness of responsible gaming practices and the availability of protective measures.