Online betting revenue in Portugal reached €261.8 million in the second quarter of 2024, a record figure and the eighth consecutive quarter of growth. Despite this, gaming revenue at land-based casinos has fallen. Understand the changes in this market below and discover the best Portuguese casino apps. Check it out! all the details in the article below:
Growth of online gambling in Portugal
According to data from the Gaming Regulation and Inspection Service (SRIJ), the online gaming and betting sector generated gross revenue of €261.8 million in Portugal, in the second quarter of 2024, representing an increase of 27.1% compared to the same period last year.
In this optimistic scenario, online casinos continue to dominate the sector and show no signs of stopping growing. To give you an idea, in the second quarter of 2024, online casino games alone generated €158.5 million, a growth of 29.9% compared to €122 million in 2023.
In total, players wagered €4.37 billion at online casinos during the quarter. Among the bets, the games that most attract players are:
- Slot machines – 82.3%;
- French roulette – 6.5%;
- Blackjack – 4.9%;
- French Banking – 4.6%;
- Poker Games – 1.7%.
Drop in the use of physical casinos in Portugal
The report also points to a drop in the use of physical casinos in Portugal. Total revenue in the second quarter of 2024 was €63.7 million, a drop of 4.5% compared to the same period in 2023.
Among the main reasons for this drop, we can highlight the difficulty of post-pandemic recovery, changes in consumer preferences and the growing competition from online gaming platforms.
In 2024, while land-based casinos saw a 4.5% drop compared to the 2nd quarter of 2023, online casinos in Portugal saw an increase of 27.2% compared to the previous year.
What drives online gambling in Portugal?
After all, what drives online gaming in Portugal? A combination of factors leads to this growth, such as technological advances, changes in player preferences and industry regulations. Understand the main reasons that are accelerating the evolution of this sector.
Technological advances in the sector
The growth and advancement of the internet has led to increased access to smartphones and online gambling platforms. This way, players can bet at any time and place.
Furthermore, technological advances in the sector improve the quality of games, with high definition graphics and immersive experiences. There are also live games with real dealers, elevating the players’ experience.
Change in player preferences
There are changes in the preferences of Portuguese players, who prefer the practicality of online casinos. Unlike physical casinos, online platforms offer a greater variety of games and bets. For example, a single online casino offers more than 2,000 game options, while a physical one is limited to the size of its space.
In addition to bonuses and promotions that encourage online participation, consumers prefer the speed, flexibility and comfort of online casinos.
Portuguese regulation
Another important factor is sector regulation. In 2015, the Portuguese government regularized sports betting through Law No. 66/2015. For example, the Gaming Regulation and Inspection Service (SRIJ) creates a controlled and safe market environment, increasing players’ trust in licensed platforms.
The future of casino gaming in Portugal
The data shows that the growth of online casinos is a trend that is already happening in Portugal and is expected to grow even more in the coming years, shaping the future of the casino industry in the country.
Therefore, for the coming years, we can expect some trends, such as:
- Even greater growth of online casinos;
- Technological advancement, with an increase in games for online devices, use of technologies such as augmented reality (AR), virtual reality (VR) and Artificial Intelligence (AI);
- Decrease in the use of land-based casinos;
- Adapting physical casinos to focus on unique events and experiences that cannot be replicated online;
- Changes in payment methods, such as cryptocurrencies;
- Growth of sports betting and eSports;
- Greater regulation and combat against illegal gambling;
- Blockchain integration for transparency;
- Increased responsible gaming;
- Expansion of games with live dealers;
- Personalization through Artificial Intelligence (AI).
Conclusion
The gambling market in Portugal is moving towards an increasingly digital path. Therefore, online casinos, with greater accessibility and technological innovations, should continue to lead the market, while physical casinos will need to reinvent themselves to maintain their relevance.
Understand your own gaming preferences and choose your preferred casino. Good luck!
