Portugal Online Gaming Revenue Hits Record €337.6m in Q4 2025
Total revenue reached €337.6m, exceeding the previous high of €323m recorded in Q4 2024. The figure follows three consecutive quarters in which revenue remained below €300m.
Online sports betting and gaming revenue in Portugal recovered in Q4 2025, surpassing the €300m mark for the first time in four quarters and setting a new quarterly record.
Total revenue reached €337.6m, exceeding the previous high of €323m recorded in Q4 2024. The figure follows three consecutive quarters in which revenue remained below €300m.
Revenue increased by 13.6 per cent compared to Q3 2025 (€297.1m) and rose 4.5 per cent year-on-year.
Online casino and sports betting performance
Online casino revenue accounted for €214m of the total, up 15.9 per cent year-on-year and 8.4 per cent higher than Q3, according to Portugal’s Gaming Regulation and Inspection Service (SRIJ).
Sports betting revenue reached €123.6m in Q4, representing a 10.6 per cent decline year-on-year but a 23.9 per cent increase compared to Q3.
Total bets in Q4 rose 7 per cent year-on-year to €571.1m and were up 13.2 per cent quarter-on-quarter. Meanwhile, total stakes on online casino games reached €5.9bn, marking a 14.8 per cent increase year-on-year and a 7.7 per cent rise from Q3.
Football remains dominant
Football continued to dominate Portugal’s online betting market, accounting for 75.6 per cent of total bets in Q4. Tennis (10.6 per cent) and basketball (9.6 per cent) were the next most popular sports.
Within the online casino segment, slots made up 80.4 per cent of total stakes.
The number of registered players in Portugal reached 4.9 million by the end of Q4, reflecting 231,400 new registrations and 239,200 account closures during the period. Overall, player accounts increased by 4.5 per cent compared to Q4 2024.
