Online gambling in Portugal hits record in Q2, land-based casinos fall
Date: 2024-08-19 Author: Robert Beloved Categories: CASINO
Online gambling revenue in Portugal reached €261.8 million in Q2 2024, a new record and the eighth consecutive quarter of historically high revenues. This result is only slightly higher than the previous record set in Q1 2020, when revenues reached €260.8 million. Compared to the same period in 2023, this represents a 27.2% increase, according to the Serviço de Regulação e Inspeção de Jogos (SRIJ).
Despite the success of online gambling, local operators warn of a growing threat from the illegal market.
Online casinos continue to dominate
In Q2 2024, online casinos generated the largest share of online gambling revenue, amounting to €158.5 million. This is an increase of 29.9% compared to €122.0 million in Q2 2023, although slightly below the result of Q1 this year (€160.3 million).
The total amount wagered on online casinos in Q2 reached €4.37 billion, up 34.7% compared to the same period last year and up 0.4% compared to Q1 2024. Of all online casino bets, 82.3% were on slots, 6.5% on French roulette and 4.9% on blackjack. The remainder was split between dice and poker.
Sports betting revenue up year-on-year despite Euro 2024
Online sports betting revenues grew by 23.1% year-on-year to €103.3 million. This result is also 2.8% higher than the €100.6 million recorded in the first quarter of this year.
Punters spent €462.3 million on sports betting in the second quarter, up 29.3% year-on-year. However, this figure was down 19.5% compared to the first quarter of 2024, despite the start of Euro 2024 football at the end of the second quarter.
Football took the lead in sports betting, accounting for 69.3% of the total, followed by tennis with 19.9%, basketball with 6.8% and other sports with 4.1%.
New registrations and self-bans increase
An additional 287,600 new online gambling accounts were registered in the second quarter, but 136,800 users closed their accounts. As a result, more than 4.4 million accounts in Portugal remained active by the end of June 2024.
In terms of self-bans, 47,300 people decided to block their gambling access in the second quarter, bringing the total number of self-banned users to 256,900.
In addition, the regulator SRIJ issued closure notices to 38 sites that it believed were operating illegally in Portugal.
Land-based casino market continues to decline
Land-based casino revenues in Portugal in the second quarter amounted to €63.7 million, down 4.5% year-on-year. Revenue from physical slot machines increased by 0.8% to €50.0 million, representing 78.4% of total revenue. The remaining €13.8 million came from table games and bingo, down 19.9% from last year.
In the table games category, the regulator recorded a decline in revenue from baccarat, blackjack and American roulette.
The threat of illegal operators
Despite the growth of the official market, Portugal faces serious problems on the illegal front. According to the annual study by the Portuguese Online Gambling and Betting Association, 41% of all players use unlicensed platforms, and among young people aged 18 to 34, this figure reaches 52.1%.
The organization has also filed several criminal complaints against social media influencers promoting illegal sites.
