Portugal’s Online Gambling Revenue Reaches Record High in Q4 2024
Portugal’s online gambling market experienced a surge in revenue during the fourth quarter of 2024, reaching a record €323 million. This growth was primarily fueled by the strong performance of the sports betting sector.
The Q4 total, encompassing the months of October, November, and December, represents a significant 42% increase compared to the same period in the previous year. It also surpasses the previous record of €266.3 million, set in Q3 of 2024, by 21.3%.
Data released by the regulator, Serviço de Regulação e Inspeção de Jogos (SRIJ), highlights record performances in both sports betting and online casino segments.
While casino games generated the largest share of revenue, sports betting demonstrated remarkable year-on-year growth.
Sports Betting Revenue Soars in Q4
A closer examination of sports betting reveals a revenue of €138.3 million, marking a substantial 90% increase compared to the previous year. This figure also exceeds the €91.2 million reported in Q3 by 51.7%.
This increase occurred despite player spending remaining relatively stable. Consumers wagered €533.7 million during Q4, compared to €532.1 million in the previous year. However, this was higher than the €483.4 million wagered in Q3.
Football accounted for the majority (75%) of sports betting wagers. Tennis followed with 10.5%, basketball with 10.2%, and other sports with 4.3%.
Online Casino Revenue Shows Strong Growth
The online casino sector also experienced growth, with revenue reaching €184.6 million. This represents a 19.5% increase compared to Q4 of 2023 and a 5.5% increase compared to Q3 of 2024.
Total spending on online casino games reached €5.15 billion in the quarter, up 21.1% from the previous year and 5.6% from Q3.
Online slots remained the most popular choice among players, accounting for 80.2% of all wagers. Dice game French bank was the next most popular with a 5.4% share, followed by French roulette at 5.3% and blackjack at 4.8%.
Active Player Base Exceeds 4.7 Million
In addition to financial data, the SRIJ also provided insights into player behavior. A total of 4.7 million individuals participated in online gambling during the fourth quarter, representing a 15% year-on-year increase.
The period saw 614,800 new registrations, a 15% increase compared to 2023. The majority of these new players were aged between 18 and 24, although the 25 to 34 age group remains the most prevalent among online gamblers.
Regarding self-exclusion, 16,200 individuals opted out of online gambling in Q4, bringing the total number of self-excluded individuals in Portugal to 292,400 by the end of the quarter.
Furthermore, the regulator issued 41 closure notifications to websites found to be operating in violation of regulations.
Land-Based Sector Shows Mixed Results
The land-based gambling sector experienced a 12.5% year-on-year increase in gross revenue, reaching €72.6 million. However, this figure falls 4.3% short of the total for Q3.
Slot machines generated €53.9 million of the total revenue in Q4, a 4.8% increase from the previous year. The remaining revenue (€18.8 million, up 36.9%) was attributed to casino-style and bingo games.
American roulette generated the most revenue in the latter category at €6.9 million, with all areas within this market experiencing year-on-year growth.
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