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  • Q4 2023: Portuguese online GGR climbs 16.4% to €227.4m
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Licensees in Portugal’s regulated online gambling market generated €227.4m in GGR during the fourth quarter of 2023, an increase of 16.4% year-on-year.

The figure also represented a steady quarter-over-quarter increase of 5.6%, and made Q4 2023 the sixth consecutive quarter to report record revenue for Portuguese online gambling.

That helped continue a trend of relatively rapid growth in the market, which has seen GGR increase from €64.6m in Q4 2019, to more than triple that figure just four years later.

Of the Q4 2023 total, 68% of GGR or €154.5m came from online casino (up 44.7% year-on-year), while the remaining €72.8m (down 12.6%) came from online sports betting.

The revenue led Portugal to collect €81.4m in gambling taxes from the online sector in Q4, an increase of 26.4% compared to the same quarter in 2022.

Vertical breakdowns

Of the total sports betting GGR recorded in Q4, the vast majority came from bets placed on football, which accounted for 74.7% of all revenue.

Basketball and tennis together accounted for the majority of the remainder, bringing in 10.8% and 9.7% of betting revenue, respectively.

Just 4.8% of all online betting GGR came from other sports.

Within online casino, the vast majority of revenue came from slot games, which accounted for 83% of all iGaming GGR.

Online roulette accounted for a further 6.9%, while blackjack brought in a further 4.7% of the total.

Portuguese dice game ‘banca francesa’ was the third highest-grossing game type in online casino, bringing in 3.3% of revenue.

Cash poker brought in a further 1.2% of the overall revenue total, while tournament poker brought in the remaining 0.8%.

Player numbers

There were a total of 4.1 million players registered as of Q4 2023, an increase of 15.7% year-on-year.

Of those, 1.1 million were active during the quarter, up 12.6%, while 319,500 were new players registered during the period, an increase of 6.3% over Q4 2022.

The majority of registered players were aged under 34, with 22.5% aged between 18 and 24, and 35% aged between 25 and 34.

A further 22.4% were aged between 35 and 44, and 13.5% were between 45 and 54. Just 6.6% of registered players were aged over 55.

The number of self-excluded players increased significantly year-on-year, as the figure shot up 41.6% to 215,000.

Out of all the active players reported during the quarter, 25.8% placed exclusively sports bets and 31.3% played exclusively online casino. 

The largest cohort, however, representing 43.2% of all players, took part in both activities.

Key land-based figures

Elsewhere, the land-based revenue generated in casinos and arcades was down year-on-year in Q4, as it fell by 3.9% to €64.6m.

That figure also represented an even bigger drop of 15.2% compared to the previous quarter.

Of the total GGR, 79.7% was generated by slot machines, with the rest coming from poker and table games.

Outside casinos and arcades, land-based bingo operations generated a further €7.4m in revenue amid a year-on-year increase of 5.9%.

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