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Portugal Breaks Online Gambling Revenue Record in Q4 with €227.4m

Portugal Breaks Online Gambling Revenue Record in Q4 with €227.4m

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Nicole Maccarelli

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In a remarkable streak, Portugal has shattered its online gambling revenue record for the sixth consecutive quarter, achieving a remarkable €227.4 million (£194.7 million/$246.8 million) in Q4.


The revenue surge represents a 5.6% increase from Q3 2023, surpassing the previous record of €215.4 million. Compared to Q4 2022, the growth is even more impressive, with a substantial 16.4% uptick from €195.3 million.


Of this revenue, a significant portion of €154.5 million was attributed to online casino games, marking a staggering 40.7% increase year-on-year and setting yet another record in Portugal's online gambling landscape.


Consumers in Portugal displayed a remarkable enthusiasm, spending €3.84 billion on online casino games in Q4, representing a substantial 28.7% increase year-on-year. Notably, slots dominated the betting landscape, commanding 83.0% of total bets, followed by French roulette at 6.9% and blackjack at 4.7%.


However, the enthusiasm for online casino gaming was not mirrored in sports betting, which experienced a revenue decline of 14.8% from the previous year, totaling €72.8 million in Q4. Despite this, player spending surged by 16.0% to €532.1 million, signaling sustained interest in sports betting.


Football emerged as the favored sport among Portuguese bettors, commanding 74.7% of all wagers, followed by basketball at 10.8%, tennis at 9.7%, and other sports at 4.8%.


The surge in online gambling activities also witnessed a significant rise in new registrations, with 319,500 new accounts opened in Q4, compared to 237,600 in the previous year. By the quarter's end, Portugal boasted a total of 4.2 million active online accounts.


However, alongside the surge in registrations, there was also an increase in self-exclusion from online gambling, with 215,000 individuals opting for self-exclusion in Q4, reflecting a rise of 18,400 from the previous quarter and 63,200 from Q4 2022. Additionally, authorities in Portugal took action against 23 illegal gambling websites during the quarter.


In contrast, the land-based gambling sector witnessed a decline, with revenue shrinking to €64.6 million in Q4, down 3.9% from the same period in 2022. Slot machine revenue, the mainstay of the land-based sector, fell by 3.5% year-on-year to €51.4 million, while revenue from casino-style and bingo games dropped by 1.5% to €13.7 million, with American roulette, baccarat, and blackjack contributing to the decline.


Image License: Unsplash.com; Free to use; Author: Leon Bublitz


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