SBC News Voice of the Sports Betting Industry
Online gambling in Portugal continues to grow at a double-digit growth rate across all core segments, metrics and wagering markets.
Market insights for 2024 have been published by the SRIJ, the Gambling Inspectorate of Portugal, under the stewardship of Turismo Portugal.
In 2024, Portugal’s online gambling market surpassed the €1bn revenue mark as online games and sports betting generated a combined income of €1.07bn up 42% on 2023 comparatives of €760m.
Record online revenues were achieved from a peak market betting volume of €19.5bn, as player winnings are estimated to stand at €18,5bn.
Q4 trading saw the online market generate record-breaking gross revenue of €323m, up 41% on 2023 comparatives of €228m and reflecting a €96m (+21%) increase on the previous quarter.
The growth in sports betting revenue was particularly notable. Sports betting revenue in Q4 2024 reached €138m, up from €72.8 million in Q4 2023, representing a staggering 90% year-on-year increase. On a quarterly basis, sports betting revenue grew by 51.7% from €91m in Q3 2024.
Games of chance also showed strong performance in Q4 2024, generating €184m in gross revenue — a 19.5% increase from €154m in Q4 2023. Compared to Q3 2024, when games of chance generated €175m, this reflects a solid 5.5% quarterly increase.
The number of active players increased to 1.23 million in Q4 2024, reflecting an 12% rise compared to the same period in 2023. The total registered player base reached 4.7 million, marking a 15% year-on-year increase. Approximately 78% of players were under 45 years old, indicating a strong engagement among younger demographics.
Tax revenue from online gambling provided its biggest contribution to the Portugal’s state income, with total gambling taxes reaching €357m in 2024, a 33% increase from 2023. Approximately €153m was collected from sports betting, while €203m was generated from games of chance, as both segments taxed at 33% of net revenues.
Land-based gambling generated €272m in total revenue for 2024, reflecting a modest 0.67% increase compared to the previous year. Slot machines remained the dominant source of revenue, accounting for 74% of total revenue contribution for land-based gaming.
As of the end of 2024, Portugal had a total of 30 active online gambling licenses, comprising 13 for sports betting and 17 for games of chance.
2025 marks a decade since Portugal introduced its regulated online gambling market, which has since become one of the fastest-growing regulated markets in Europe. The combined growth of sports betting and games of chance, supported by increased player activity and rising tax revenues, reflects a mature and steadily expanding market well-positioned for continued success.
