Portugal Sets New Online Gambling Revenue Record in Q4
Date: 2024-03-04 Author: Dima Zakharov Categories: EVENTS
Revenue Soars in Q4:
Portugal has once again made headlines by setting a new online gambling revenue record, marking the sixth consecutive quarter of growth. In Q4 of 2023, the total revenue surged to €227.4 million, surpassing the previous record set in Q3 by 5.6%.
Online Casino Games Thrive:
A substantial portion of the revenue, €154.5 million, was generated from online casino games, indicating a remarkable 40.7% increase compared to the previous year. This surge in revenue also signifies an all-time high for Portugal's online casino market.
Sports Betting Faces Decline:
Despite increased consumer spending, sports betting revenue experienced a decline, amounting to €72.8 million in Q4. This figure represents a 14.8% decrease from the previous year, despite a significant rise in player spending.
New Registrations and Self-Exclusions:
The quarter also saw a notable rise in new online gambling accounts, with 319,500 new registrations reported. However, concerns regarding problem gambling persisted, with 215,000 individuals opting for self-exclusion during this period.
Crackdown on Illegal Websites:
Authorities in Portugal took action against illegal online gambling activities, ordering the closure of 23 illicit websites during the quarter.
Land-Based Sector Struggles:
In contrast to the online sector's success, the land-based gambling market in Portugal experienced a downturn in Q4. Revenue decreased by 3.9%, primarily attributed to a decline in slot machine revenue.
Despite challenges in the land-based sector, Portugal's online gambling industry continues to thrive, demonstrating significant growth potential and attracting a substantial consumer base.
