Portugal: The keys to online gaming record in Q4

Portugal's online gambling market continues to surge, with Q4 2023 witnessing unprecedented success. Here are the key highlights:

Record Revenue: In Q4, Portugal reported a total online gambling revenue of €227.4 million, surpassing all previous records. This achievement marks the sixth consecutive quarter of growth.

Online Casino Dominance: Of the total revenue, €154.5 million was attributed to online casino games. This represents a remarkable 40.7% increase compared to the previous year. Consumers enthusiastically spent €3.84 billion on online casino games during Q4, setting another all-time high.

Popular Games: Slots accounted for 83.0% of all bets, followed by French roulette at 6.9% and blackjack at 4.7%. Other games, including dice games and poker, also contributed to the impressive revenue figures.

New Registrations and Self-Exclusions: The number of new online gambling accounts increased significantly, with 319,500 consumers opening accounts during Q4. Self-exclusion from online gambling also rose, reaching 215,000 during the same period.

Land-Based Market Challenges: In contrast to online success, Portugal's land-based sector faced challenges. Revenue for Q4 amounted to €64.6 million, down 3.9% from the same quarter in 2022.

Sports Betting Decline: Despite higher spending, sports betting revenue declined by 14.8% to €72.8 million in Q4. However, there was some good news for this market, with player spending rising by 16.0% to €532.1m. This was also higher than any other quarter in 2023 by some distance. As for what consumers in Portugal are betting on, football was the most popular sport with 74.7% of all wagers. Basketball accounted for 10.8% of bets, tennis 9.7% and other sports 4.8%.