Portugal Surpasses €1 Billion in Online Gambling Revenue

Portugal’s online gambling industry continues its rapid expansion, maintaining double-digit growth across all primary sectors, metrics, and wagering categories.

The 2024 Market Insights, released by the Serviço de Regulação e Inspeção de Jogos (SRIJ)—the Gambling Regulatory Authority of Portugal operating under Turismo de Portugal—highlight an exceptional year for the nation’s digital wagering landscape.

In 2024, Portugal’s online gambling sector crossed the symbolic €1 billion revenue threshold for the first time. Combined earnings from online casino games and sports betting reached an impressive €1.07 billion, marking a substantial 42% surge compared to the €760 million recorded in 2023.

This unprecedented revenue was driven by a record betting handle totaling €19.5 billion, with estimated player winnings standing at €18.5 billion.

Q4 2024: A Record-Setting Quarter

The final quarter of 2024 proved exceptional, as Portugal’s online gambling market delivered its highest-ever gross revenues. Q4 earnings totaled €323 million—an increase of 41% from the €228 million achieved in Q4 2023 and a notable €96 million (or 21%) rise compared to the previous quarter.

The surge in sports betting was particularly remarkable. Revenues from this segment soared to €138 million in Q4 2024, almost doubling the €72.8 million earned in Q4 of the previous year. This represents a staggering 90% year-on-year growth. Quarter-on-quarter, sports betting revenue leapt by 51.7% from €91 million in Q3 2024.

Games of chance, such as online slots and table games, also posted strong results. Gross revenues in this segment hit €184 million in Q4 2024, up 19.5% from €154 million in Q4 2023. Compared to the €175 million recorded in Q3 2024, this amounts to a 5.5% increase.

Growing Player Base & Tax Contributions

The number of active online players in Portugal climbed to 1.23 million during Q4 2024, representing a 12% increase versus the same period in 2023. Overall, the total registered player base expanded to 4.7 million—a 15% year-on-year rise. Notably, approximately 78% of online gamblers were under the age of 45, underscoring the sector's appeal among younger demographics.

Tax contributions from online gambling reached an all-time high, delivering a significant boost to Portugal’s public finances. Gambling-related tax revenues totaled €357 million for 2024—an impressive 33% increase from the previous year. Of this, €153 million was generated from sports betting activities, while games of chance contributed €203 million. Both sectors are taxed at a rate of 33% on net revenues.

Land-Based Gambling & Licensing Update

Meanwhile, the land-based gambling sector posted revenues of €272 million for 2024, reflecting a marginal year-on-year increase of 0.67%. Slot machines remained the cornerstone of physical casino revenue, accounting for 74% of the sector’s total income.

By the end of 2024, Portugal had issued a total of 30 active licenses for online gambling operations. This included 13 licenses dedicated to sports betting and 17 for games of chance.

2025: A Decade of Regulated Online Gambling in Portugal

The year 2025 marks ten years since the formal regulation of online gambling in Portugal. Over the past decade, the nation has established itself as one of Europe’s fastest-growing regulated gambling markets. The combined strength of the sports betting and games of chance sectors—supported by a steady rise in player engagement and robust tax revenue—reflects a mature, thriving market poised for sustained growth in the years ahead.