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In the third quarter of 2023, Portugal achieved a remarkable milestone in online gambling revenue

Reaching a record-breaking €215.3 million, marking a substantial increase from the previous quarter's €122.0 million. This surge represents a significant 4.6% growth and a notable 36.1% spike compared to the same period in 2022.

In the third quarter of 2023, Portugal achieved a remarkable milestone in online gambling revenue

The flourishing online gambling sector was primarily fueled by the impressive performance of the igaming segment, which contributed to the unprecedented quarterly high. Online games of chance alone generated €133.4 million in revenue during Q3, marking a substantial 50.5% year-on-year increase. This segment accounted for 62.0% of the total online gambling revenue for the quarter.

Consumers demonstrated a keen interest in online gambling, with a total spending of €3.65 billion during Q3, marking a noteworthy 47.2% surge and setting another record for Portugal. Among these expenditures, slots took the lead with 82.3%, followed by French roulette at 6.4% and blackjack at 6.2%.

Despite the overall upswing in online revenue, the sports betting market in Portugal continued its decline. Sports betting revenue for Q3 amounted to €81.9 million, showing a 17.7% increase from the previous year but a 2.5% decrease from Q2. This marks the third consecutive quarter of decline in this sector, with player spending on online sports wagering reaching €390.5 million.

The breakdown of sports bets revealed that 71.4% were placed on football, 22.2% on tennis, and 6.4% on other sports. Despite the challenges in the sports betting arena, the online gambling industry as a whole in Portugal has demonstrated robust growth.

The Gaming Regulation and Inspection Service (SRIJ), Portugal's national gambling regulator, disclosed additional insights for Q3. A noteworthy statistic is the 42.5% increase in self-exclusions from online gambling, totaling 196,600 players by the end of the quarter.

During the same period, 205,200 new online registrations were reported, while 97,800 accounts were canceled, resulting in a total of 3.9 million active online gambling accounts in Portugal.

Cyprus Gaming License

The SRIJ also took regulatory action against illicit operators, ordering 23 websites to cease illegal operations during Q3. This underscores the regulator's commitment to maintaining a fair and transparent online gambling environment.

Beyond the online sphere, land-based gambling in Portugal also experienced positive growth. In Q3, revenue from land-based gambling reached €76.1 million, reflecting a substantial 14.0% year-on-year increase. Physical slot machines played a significant role, contributing €57.2 million, while casino-style and bingo games generated €18.9 million, indicating a robust 35.6% rise.

Specifically, baccarat gambling contributed €5.9 million to Q3 revenue, American roulette generated €5.8 million, and blackjack brought in €3.3 million. This diverse landscape of gambling activities showcases a thriving industry in Portugal, both online and land-based, despite challenges faced by the sports betting sector.


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