Record breaking quarter for Portugal online gambling market

Portugal’s regulated online gambling market has seen a significant surge in the fourth quarter of 2023. The Gross Gaming Revenue (GGR) climbed to €227.4 million, marking a 16.4 percent increase year-on-year.

This figure also represents a steady quarter-over-quarter increase of 5.6 percent, making Q4 2023 the sixth consecutive quarter to report record revenue for Portuguese online gambling. This continued growth has seen the GGR triple from €64.6 million in Q4 2019 to its current figure in just four years.

Of the Q4 2023 total, a substantial 68 percent of GGR, or €154.5 million, came from online casinos, up 44.7 percent year-on-year. The remaining €72.8 million, a decrease of 12.6 percent, came from online sports betting.

This revenue led Portugal to collect €81.4 million in gambling taxes from the online sector in Q4, an increase of 26.4 percent compared to the same quarter in 2022.

Closer look at the figures

In terms of sports betting, football accounted for the majority of the revenue, bringing in 74.7 percent of all revenue. Basketball and tennis followed, contributing 10.8 percent and 9.7 percent of betting revenue, respectively.

Within online casinos, slot games dominated, accounting for 83 percent of all iGaming GGR. Online roulette and blackjack brought in a further 6.9 percent and 4.7 percent of the total, respectively.

The number of registered players as of Q4 2023 was 4.1 million, an increase of 15.7 percent year-on-year. Of these, 1.1 million were active during the quarter, up 12.6 percent, while 319,500 were new players registered during the period, an increase of 6.3 percent over Q4 2022.

The majority of registered players were aged under 34, with 22.5 percent aged between 18 and 24, and 35 percent aged between 25 and 34. A further 22.4 percent were aged between 35 and 44, and 13.5 percent were between 45 and 54. Just 6.6 percent of registered players were aged over 55.

The number of self-excluded players increased significantly year-on-year, as the figure shot up 41.6 percent to 215,000.

Out of all the active players reported during the quarter, 25.8 percent placed exclusively sports bets and 31.3 percent played exclusively online casino. The largest cohort, however, representing 43.2 percent of all players, took part in both activities.

Elsewhere, the land-based revenue generated in casinos and arcades was down year-on-year in Q4, as it fell by 3.9 percent to €64.6 million. That figure also represented an even bigger drop of 15.2 percent compared to the previous quarter.

Of the total GGR, 79.7 percent was generated by slot machines, with the rest coming from poker and table games. Outside casinos and arcades, land-based bingo operations generated a further €7.4 million in revenue amid a year-on-year increase of 5.9 percent.

These figures highlight the growing trend towards online gambling in Portugal, with the sector showing strong growth and a promising future.

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