Portugal’s Online Gambling Boom: Q4 Revenue Skyrockets

portugal online gambling boom
Portugal's online gambling industry record-breaking revenue growth in Q4 2022 is driven by surging interest in online casinos and sports betting.

Online Casino Surge

Portugal’s online gambling industry saw a significant rise in revenue during Q4 2022, with casino games being the primary source. According to the Gaming Regulation and Inspection Service (SRIJ), the casino sector generated €109.8m in total revenue, marking a 48.3% year-on-year and 23.8% quarter-on-quarter increase. Consumers spent a staggering €2.98bn on online casinos in Q4, which is 42.1% higher than the previous year and sets a new record for the country’s market. Slot machines emerged as the most popular form of online casino, accounting for 79.8% of all bets, while French roulette and blackjack trailed behind with 8.5% and 5.5% of bets, respectively.

Sports Betting Flourishing

The sports betting market also experienced considerable growth, with revenue climbing 30.0% year-on-year to reach €85.5m. This figure surpasses the previous quarterly record of €69.6m, set in Q3 of 2022, by 22.9%. Players spent a record €458.7m on sports betting, reflecting a 21.6% increase from Q4 2021. Football dominated the betting landscape, attracting 74.2% of all bets, followed by basketball (12.5%), tennis (7.6%), and other sports (5.7%). The 2022 Fifa World Cup alone accounted for 25.0% of all football wagers.

New Players and Self-Exclusion

The SRIJ revealed that by the end of Q4, 340,000 new players had registered with licensed operators in Portugal, with 60.0% aged between 25 and 44. Meanwhile, the number of self-excluded players rose by 41,500 year-on-year, reaching a total of 150,900 at the end of the quarter.

Crackdown on Illegal Operators

As the industry continues to expand, the SRIJ has taken measures to combat illegal gambling operations. During Q4, the regulator issued 54 notices of closure to unlicensed operators, and 74 blocking orders for their websites. The SRIJ’s ongoing efforts aim to protect both the integrity of the market and the safety of players in Portugal’s booming online gambling sector.

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Elly Smith

Elly Smith

Elly Smith is a journalist working full time for iGamingTrends.com. She is passionate about covering trends and new tech the iGaming industry.