Portugal’s Gaming Regulation and Inspection Service (SRIJ) has reported remarkable milestones for Q3 2023.
Record-breaking revenues
The online betting and gaming sector demonstrated its resilience by achieving a record-breaking gross revenue of approximately €215.3 million for Q3 2023, marking a notable €9.4 million increase from the previous quarter. While online games of chance experienced a robust surge of €11.5 million compared to Q2 23, sports betting encountered a marginal decline of €2.1 million.
However, the combined revenue from both verticals witnessed an impressive €57 million surge, reflecting a substantial 36 percent year-on-year (y-o-y) increase from Q3 2022. Notably, igaming and sports betting contributed €44.8 million and €12.3 million more, respectively.
Sports betting insights
In terms of volume, sports bets in Q3 23 reached €390.5 million—an increase of 12.1 percent compared to Q3 22 and a noteworthy uptick of 9.2 percent from Q2 23. Football emerged as the predominant sport, commanding 71.4 percent of the total volume of sports bets.
SRIJ identified the Portuguese Primeira Liga, UEFA Champions League, Spain’s La Liga, and the English Premier League as the top football competitions for betting in Q3 23.
Tennis secured the second spot in popularity, capturing around 22 percent of sports bets, with the United States Open and Wimbledon Open leading the way.
Online gaming, witnessing a remarkable 47.2 percent surge compared to Q3 2022, showcased machine games as the primary driver of this growth. French Roulette, Blackjack, French Bank, and Poker emerged as the favored choices among Portuguese players.
Land-based games and venues
The report highlights that gross revenue from land-based casinos and slot machines in Q3 2023 reached approximately €76.1 million, marking a 14 percent increase from the previous quarter and a substantial 7.8 percent year-on-year growth from Q3 2022.
Bingo’s increasing popularity
Bingo activity also experienced a surge, with a 9.1 percent jump from Q2 23 and a 3.9 percent increase compared to the same period in 2022. August emerged as the leader in bingo, generating €2.39 million, with July and September closely following with €2.38 million and €2.24 million, respectively.
The most popular casino games contributing to around 92.8 percent of the generated gross revenue were American Roulette, Baccarat, Black‐Jack, and the Portuguese dice game, French Bank.
National market prospects
The robust growth of the Portuguese market has attracted new operators like LeBull.pt, determined to propel the industry towards maturity. LeBull’s strategic partnership with Digitain reflects a proactive approach to navigate market saturation.
SRIJ remains committed to fostering a safe and responsible gambling environment in collaboration with the industry. Efforts include aligning with the highest European standards, allowing players the option to self-exclude for up to five years, showcasing Portugal’s dedication to responsible gaming practices.
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