In the three months ending on September 30, 2023, Portugal’s total market revenue achieved a remarkable feat by surpassing the previous record set in Q2, reaching €122.0 million, marking a 4.6% increase.
This astounding achievement was not only a testament to Portugal’s thriving gambling industry but also represented a 36.1% surge compared to the €158.2 million revenue generated during the same period in 2022.
A significant portion of this impressive Q3 revenue, €133.4 million, was attributed to online games of chance, boasting a remarkable year-on-year growth of 50.5%.
This surge not only established a new segment record but also accounted for 62.0% of the total online gambling revenue for the quarter.
During this quarter, consumers exhibited their enthusiasm for online gambling, with a total expenditure of €3.65 billion, marking a substantial 47.2% increase and setting another record in Portugal.
The majority of this spending, approximately 82.3%, was allocated to slots, while French roulette and blackjack accounted for 6.4% and 6.2%, respectively.
Despite the overall growth in online revenue, the sports betting market in Portugal continued to decline. Q3 sports betting revenue reached €81.9 million, showing a 17.7% year-on-year increase but still declining by 2.5% compared to Q2.
This marked the third consecutive quarter of decline in the sports betting sector.
Player spending on online sports wagering increased by 12.1% year-on-year, amounting to €390.5 million, with the majority of bets (71.4%) placed on football, followed by 22.2% on tennis, and 6.4% on other sports.
The Gaming Regulation and Inspection Service (SRIJ), Portugal’s national gambling regulator, released these Q3 figures.
Besides revenue, SRIJ reported a significant increase in self-exclusions from online gambling, with 196,600 players opting for self-exclusion, reflecting a 42.5% rise from the previous year.
Moreover, the quarter witnessed 205,200 new online registrations, alongside 97,800 account cancellations.
At the end of the three-month period, Portugal boasted 3.9 million active online gambling accounts. SRIJ also took action against 23 websites involved in illegal operations during Q3.
Turning to the land-based gambling sector, revenue continued to ascend, with Q3 revenue reaching €76.1 million, a notable year-on-year increase of 14.0%.
Physical slot machines contributed significantly to this revenue, accounting for €57.2 million and comprising 75.1% of total Q3 revenue.
The remaining €18.9 million stemmed from casino-style and bingo games, reflecting a substantial 35.6% increase.
Additional revenue sources included baccarat gambling, generating €5.9 million, American roulette with €5.8 million, and blackjack contributing €3.3 million to the Q3 revenue figures.
Portugal’s gambling industry continues to thrive across both online and land-based platforms, offering diverse opportunities for entertainment and revenue generation.