Online gambling in Portugal has continued to gain record-breaking popularity, leading to never seen before figures in revenue, market insights have shown. The insights came from the Gambling Inspectorate of Portugal, also known as the SRIJ.
Online casinos are particularly popular due to their fast payouts, and the considerable welcome bonuses they offer to new players. These casinos are unsurprisingly many players because they feature hundreds of interesting unique games, great bonuses, high table limits, and plenty of withdrawal options (Source: https://www.cardplayer.com/uk/online-casinos)
In Portugal online gambling is especially popular and in 2024, the country was able to surpass the €1 billion revenue mark for online gambling and sports betting, surpassing their 2023 figure of €760 million by 42%
Quarter four was the most successful, when the gambling sector generated a record breaking gross revenue of €323 million, an impressive 41% more than the €228 million they generated in the same quarter last year, and 21% more than the €96 they generated in the previous quarter.
Sports betting did especially well in Portugal last year. In quarter four revenue reached €138 million, which was a significant increase from the €72.8 million it generated in the same quarter of the previous year.
Similarly, games of chance performed amicably in quarter four, generating a gross revenue of €184, representing an increase of 19.5% from the €154 that was generated in the same quarter during 2023.
When we look at the number of players actively engaging in gambling in Portugal, the number has increased significantly. In quarter four of 2024 there were 1.23 million active players, up 12% from the number playing at the same time in the previous year.
With a figure of 78%, online gambling was most popular amongst the younger (those under 45) generation of Portugal. This is likely due to the ease of accessibility online gambling brings, and the way the younger generations are more technologically savvy.
The success of gambling's popularity in Portugal has had a positive impact on the country's state income through tax revenue. In 2024 the total of collected gambling tax reached €357 million, reflecting a 33% increase from 2023.
As we progress into 2025, Portugal is celebrating its ten year anniversary of the introduction of regulated online gambling sites. As we can see this has had a major benefit for the country on a state and individual level.
Many of these casinos incorporate other aspects of tech, such as cryptocurrency and artificial intelligence, introducing the world of online gambling to a much wider audience.
Crypto casinos speak to the wider acceptance of digital assets in Portugal, with many enjoying the volatility of crypto and the chance their winnings have to increase in value over time.
On the other hand, the integration of AI into the casino realm will lead to more personalised casino experiences, artificially intelligent dealers and more secure payments.
The popularity of gambling in Portugal is likely to continue to rise, and with the larger country-wide acceptance that comes with this, it is likely the sector will continue to flourish.
