888 revealed as new sponsor of Portuguese Grand Prix
The race will be taking place at the Autodromo Internacional do Algarve in Portugal and will last from April the 16th until the 18th, and through this new agreement will be...
Portugal sees record rise in online gambling for Q2
Online gambling revenue in Portugal reached €261.8m, 27.2% higher than Q2 2023.
According to a survey conducted by Serviço de Regulação e Inspeção de Jogos (SRIJ), online gambling revenues in Portugal hit the highest results for the country.
Players wagered around €4.37 billion. Sports betting also saw a boost, growing 23% year-on-year to €103.3 million, though spending dipped a bit despite Euro 2024. New online gambling accounts rose by 287,600, but 136,800 were canceled, and 47,300 people chose to self-exclude.
Next to high revenue results from online gambling, the offline industry with its land-based casinos sees revenue drops. Total revenue of Q2 was €63.7m, a 4.5% drop from last year. Physical slot machine revenue edged up 0.8% to €50.0m, representing 78.4% of all quarterly revenue. The remaining €13.8m came from casino-style and bingo games, down 19.9%. The industry regulator has to shut down 38 illegal sites.
This difference between online and offline gambling revenues is a reason for many analysts to consider a dangerous risk for illegal gambling in the country.
Portugal seems to have failed in avoiding the presence of illegal operators, and this can result in tax rises. The Online Gambling and Betting Association of Portugal published its annual study, which revealed that 41% of all players use unlicensed gambling platforms. Social media influencers promoting illegal sites have previously received criminal complaints from the body.
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.
What was the total online gambling revenue in Portugal for Q2 2024?
The total online gambling revenue in Portugal for Q2 2024 reached €261.8 million, a 27.2% increase compared to Q2 2023.
What was the total offline gambling revenue in Portugal for Q2 2024?
The total revenue of Q2 was €63.7m, a 4.5% decrease compared to Q2 2023.
What actions have been taken against illegal gambling sites in Portugal?
Serviço de Regulação e Inspeção de Jogos shut down 38 illegal gambling sites.
Share:
Casino Guru shortlisted for 2 EGR Operator Awards
Casino Guru is shortlisted for the EGR Operator Awards in 2 categories: Affiliate of the Year and Casino Affiliate.The EGR B2B Awards reward and celebrate the best...
