Portugal Hits €215.3 Million Online Gambling Revenue in Q3
Total market revenue in the three months ending September 30, 2023, surpassing the previous high of €122.0 million achieved in Q2, by 4.6%. The third-quarter total was also 36.1% more than Portugal's €158.2 million during the same period in 2022.
Online gambling income in Portugal reached a new quarterly high of €215.3 million (£185.6 million/$235.4 million) in Q3, aided by record igaming data.
Total market revenue in the three months ending September 30, 2023, surpassing the previous high of €122.0 million achieved in Q2, by 4.6%. The third-quarter total was also 36.1% more than Portugal's €158.2 million during the same period in 2022.
Online games of chance generated €133.4 million in revenue in the third quarter, an increase of 50.5% year on year. This was a new sector record and accounted for 62.0% of total online gambling revenue in the quarter.
Consumers spent €3.65 billion on this type of gaming in the third quarter, rising 47.2% and setting a new record for Portugal. Slots accounted for 82.3% of the total spend, with French roulette at 6.4% and blackjack at 6.2%.
The total growth in online income in Portugal occurs despite an ongoing fall in the sports betting business.
Sports betting revenue in the third quarter totaled €81.9 million. This was 17.7% greater than the previous year, but 2.5% lower than Q2, marking the third straight quarter of decrease.
Player expenditure on online sports wagering increased by 12.1% year on year to €390.5 million. Of this amount, 71.4% was wagered on football, 22.2% on tennis, and 6.4% on other sports.
