Overall, official data shows that the Portuguese online gambling market generated a record-breaking €266.3m in GGR during Q3 2024, representing a 23.7% year-on-year increase. The government also benefited significantly, collecting €82.6m in special gaming taxes, a 27.5% rise compared to Q3 2023.

During the quarter, GGR from iGaming reached €175.1m, accounting for 65.7% of the total online gaming revenue. This marked a 31.2% year-over-year increase, solidifying iGaming’s position as the primary driver of industry growth.

By comparison, sports betting accounted for €91.2m in GGR, representing 34.3% of the total. While this segment saw an 11.4% increase in revenue compared to Q3 2023, its share of the overall market continues to decline.

The third quarter of 2024 revealed overall growth in both revenue and player engagement, highlighting the sector’s dominance in the country’s gambling industry.

At the same time, the growing dominance of iGaming highlights a shifting trend. Even as sports betting revenues rise, the segment appears to be losing ground in the overall online gambling market.

Slots and football dominate

Breaking down the iGaming revenue, slots dominated the landscape, contributing 80.4% of total wagers in the category.

Traditional casino games such as roulette (6.1%), baccarat (5.5%), and blackjack/21 (4.5%) followed, while niche offerings like poker tournaments and crash betting remained minor contributors.

For sports betting, football unsurprisingly maintained its dominance, commanding 72.7% of all sports bets. Tennis followed at 21.2%, while other sports collectively represented 6.1%.

Among football competitions, Portugal’s Primeira Liga accounted for 9.8% of the betting volume, with international events like the UEFA Champions League and UEFA Euro 2024 collectively contributing another 12%.

A surge in player registrations

The Q3 2024 report also revealed a robust increase in player activity. The number of registered players grew to 4.58 million, a 16.9% increase compared to the same quarter in 2023.

Additionally, 269,800 new players joined online platforms, reflecting a 31.5% year-over-year surge in new registrations. The largest age group among new players was 18-24 years, accounting for 31% of registrations.

Notably, 42.3% of active players engaged in both iGaming and sports betting, showcasing a blended interest in the two categories.

This crossover activity further emphasises the importance of operators catering to diverse gaming preferences.

Despite these successes, challenges such as player protection and responsible gambling remain in focus. The number of self-exclusions — a key indicator of players seeking help for potential gambling issues — increased by 40.5% year-over-year, reaching 276,200.