Witness a historic surge in Portugal’s online gambling revenue.
Q3 2023 marks a groundbreaking achievement in the market.
Explore the driving factors behind this remarkable growth.
Delve into the details of Portugal’s thriving gambling industry.
Portugal’s Online Gambling Hits Record Heights in Q3
Portugal’s online gambling revenue soared to an unprecedented €215.3M in Q3 2023, eclipsing previous records and demonstrating robust market growth.
Dominance of Online Games of Chance
Online games of chance played a pivotal role, contributing €133.4M to total revenue, a staggering 50.5% increase year-on-year. This segment, predominantly fueled by slots, French roulette, and blackjack, accounted for 62.0% of all online gambling revenue.
Consumers’ Growing Investment in Online Gambling
The total expenditure on online gambling reached a new high at €3.65 billion, with slots leading the spending spree.
Challenges in Online Sports Betting
Despite overall growth, online sports betting faced a decline, with Q3 revenue at €81.9M. Football, tennis, and other sports betting activities witnessed increased player spending, but the segment experienced its third consecutive quarter of decline.
Responsible Gaming: Rising Self-Exclusion Numbers
The Gaming Regulation and Inspection Service (SRIJ) revealed an increase in self-exclusion, with 196,600 players opting out, highlighting a growing awareness of responsible gambling practices.
Active Player Participation and Account Management
The quarter also saw a surge in new online registrations and a notable number of account cancellations, indicating active player engagement in the market.
SRIJ’s Vigilance Against Illegal Operations
SRIJ’s efforts to regulate the market included the shutdown of 23 illegal gambling websites, reaffirming its commitment to maintaining a secure gambling environment.
Land-Based Gambling Also on the Rise
Transitioning from online to land-based, the sector also witnessed growth, with revenue climbing to €76.1M. Slot machines remained the dominant force, while baccarat, American roulette, and blackjack also contributed significantly to the sector’s success.
Conclusion: A Thriving Future for Portugal’s Gambling Industry
Portugal’s gambling industry, both online and land-based, is thriving, with Q3 2023 setting new benchmarks. This trend signifies not only the market’s potential but also the effectiveness of regulatory measures and the growing commitment to responsible gaming. As the industry continues to evolve, it stands as a model of success and sustainability in the dynamic world of gambling.