Portugal records €266.3M iGaming revenue for Q3 2024
In Q3 2024, iGaming revenue in Portugal reached €266.3m, 23.7% higher than Q3 2023.
The online casino market was the primary driver of growth for iGaming, recording an...
Portugal hits record iGaming revenues of €1B in 2024
Portugal revealed its iGaming revenues for 2024, reporting an impressive reach of more than €1 billion, a 42% increase from the previous year.
With 30 active online gambling licenses and a rapidly growing market, iGaming claims the crown in Portugal. Total revenue on online games and sports bets reached €1.07 billion thanks to a record-breaking bet reach of €19.5 billion.
iGaming in Q4 2024 saw a gross revenue of €323 million, which is 41% higher than what was generated during Q4 2023. Sports betting saw an increase of 90% year-to-year and hit €138 million. Games of chance earned €184 million, or 19.5%, up from Q4 2023.
Player activity
Active player numbers also grew, with 1.23 million active players in Q4, an increase of 12% compared to 2023. The total registered player base was 4.7 million, and 78% of the players were under the age of 45 years, showing a strong appeal for younger players.
iGaming taxes were a major contributor to the state revenues of Portugal, amounting to €357 million in 2024, a 33% rise compared to the last year. Out of this, €153 million was from sports betting and €203 million from games of chance.
With the nation marking ten years of online gaming regulation, the market is ready to score another goal.
FAQs
Is gambling legal in Portugal?
Gambling is only allowed in casinos located in the 10 gaming zones established by the Portuguese Gaming Law.
What is the legal gambling age in Portugal?
The legal gambling age in Portugal is 18.
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