Portugal is not among the top European countries for land-based casino enthusiasts, but this is more than compensated for by the presence of a large number of virtual gambling establishments. The government is seeing record revenue from the online gambling industry, indicating a growing interest in virtual entertainment.
According to local regulators, revenue from online casinos and bookmakers has increased, reflecting general global trends. However, despite the impressive success of the online sector, the number of land-based operations has declined.
The steady growth of online gambling and changes in gambling preferences
According to the latest report from the Gambling Regulation and Inspection Service (SRIJ), the gross revenue of licensed online casinos in the country increased by 27.1% year-on-year to €261.8 million in the second quarter of 2023.
This data shows the following key trends:
- Online casino gross revenue increased to €261.8 million.
- Revenues. Total online revenue was distributed as follows: gambling 60.5% and sports betting 39.5%.
- Gambling revenue. During the period under review, gambling revenue amounted to €158.5 million, an increase of almost 30% compared to the previous year. The volume of bets reached 4.37 billion euros, almost one billion more than a year earlier.
- Slot machines: at the height of their popularity. Among games based on luck, slot machines lead the way, accounting for 82.3% of the total volume. They are followed by other exciting gambling games such as French roulette, blackjack, craps and poker.
- Sports betting is proliferating. Revenues from this activity grew by almost a quarter to 103.3 million euros. The total volume of bets amounted to 462.3 million euros, almost double the previous reporting period's figure of 357.6 million.
- Sports betting preferences. Among all sports, soccer is the leader, accounting for 69.3% of the total betting volume. It is followed by tennis, basketball and some other sports.
- Growth in the number of players. The number of users who prefer to make virtual sports bets increased by 16.2% and reached 4.4 million people. At the same time, the number of new registrations increased by 51.2%. Self-exclusions also increased, totaling 256,900.
These data show that the iGaming industry in Portugal is becoming increasingly popular, despite a possible decline in interest in traditional gambling.
If you study the search engine, you can see Megapari, Pin Up or 1xBet websites and apps. Online casino 1win is particularly popular for its large number of games and bonuses. To take part in the promotion, you need to open the site and get a promo code for 1win. If you use this promo code when registering, you can get cash welcome bonuses after funding your account.
All these advantages make online casinos extremely popular in Portugal. As experts believe, the growth will continue.
The steady growth in the number of users and impressive revenues demonstrate that the virtual gambling sector continues to significantly impact the country's economy.
