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Portugal sets €215.3m online gambling revenue record in Q3

| By Robert Fletcher
Online gambling revenue in Portugal hit a new quarterly high of €215.3m (£185.6m/$235.4m) in Q3, helped by record figures from the igaming segment.
Portugal Q3

Total market revenue in the three months to 30 September 2023 surpassed the existing record of €122.0m, which was set in Q2, by 4.6%. The Q3 figure was also 36.1% higher than €158.2m in Portugal in the same period in 2022.

Some €133.4m of revenue in Q3 came from online games of chance, up 50.5% year-on-year. This was a new segment record and also represented 62.0% of all online gambling revenue in the quarter.

Consumers spent €3.65bn on this form of gambling in Q3, up 47.2% and another new record for Portugal. Slots accounted for 82.3% of this total spend, with French roulette at 6.4% and blackjack 6.2%.

Portugal online sports betting revenue continues to decline

The overall increase in online revenue in Portugal comes despite an ongoing decline within the sports betting market.

Sports betting revenue in Q3 amounted to €81.9m. This was 17.7% higher than the previous year but 2.5% lower than Q2 and the third consecutive quarter of decline.

Player spending on online sports wagering was 12.1% higher year-on-year at €390.5m. Of this total, 71.4% of bets were placed on football, 22.2% tennis and 6.4% across other sports.

Self-exclusions reach 196,600 in Q3

The Q3 figures were published by the Gaming Regulation and Inspection Service (SRIJ), the national gambling regulator in Portugal.

Aside from revenue, the SRIJ also revealed other data about Q3. This included that, by the end of Q3, 196,600 players had self-excluded from online gambling, up 42.5% from the same point in 2022.

Meanwhile, some 205,200 new online registrations were reported during the quarter. It was also reported that 97,800 accounts were cancelled in Q3. By the end of the three-month period, 3.9 million online gambling accounts were active in Portugal.

In addition the SRIJ said it had ordered 23 websites to cease illegal operations during Q3. 

Portugal land-based gambling revenue also increases

Away from online and into the land-based sector, revenue for this segment also climbed. In Q3, revenue from land-based gambling amounted to €76.1m, up 14.0% year-on-year.

Physical slot machines accounted for €57.2m of this total, up 1.0% on the previous year and 75.1% of all revenue in Q3. The other €18.9m came from casino-style and bingo games – a rise of 35.6%.

Baccarat gambling generated €5.9m in Q3 revenue, American roulette €5.8m and blackjack €3.3m.

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