After a year where we saw many markets shatter online gaming revenues, Portugal jumped on the bandwagon as the country continued with its fast-paced incline that saw Portuguese online gaming revenue hit a new record for Q3.
According to the latest report issued by the O Serviço de Regulação e Inspeção de Jogos (SRIJ), Porgutal’s official gambling regulator, Q3 online gaming revenue reached a record-breaking €266.3 million.
When compared to Q2 of the same year, this figure marks a rise of 1.7%, or €4.5 million, and a whopping increase of 23.7% when compared to the revenue of Q3 of 2023, which amounted to €215.3 million.
Moreover, the SRIJ reported that out of the total €266.3 million revenue for Q3, 65.7%, or €175.1 million, came from games of chance alone, which is another increase when compared to the €133.4 million revenue contributed from games of chance in Q3 2023.
The remaining €91.2 million of the Q3 revenue in 2024 came from online sports betting, i.e. fixed-odds sports betting, a vertical which amounted to €81.9 million for Q3 in 2023.
Interestingly enough, despite the revenue from sports betting being higher for Q3 2024 than Q3 2023, it is still a notable decline when compared to the sports betting revenue in Q2 of this year, which saw €103.3 million from this sector.
From here, the total wagers in Portugal for Q3 2024 amounted to €483.4 million, which is up by 23.8% when compared to the €92.9 million from Q3 in 2023, which is also up by 4.6% when compared to Q2 of this year.
Finally, when it comes to games of chance, the total wagers in Q3 2024 amounted to a whopping €4.87 billion, which is a notable 33.7% increase when compared to Q3 in 2023.
Despite the challenges, Portugal is clearly one of those countries that will attract even more attention in 2025, as its online gaming scene doesn’t show any signs of slowing down.
