The nation of Portugal has established a new high point for online gambling income for the sixth consecutive three-month period in the final quarter, reaching €227.4 million (£194.7 million/$246.8 million).
The revenue for the fourth quarter of 2023 is 5.6% higher than Portugal’s previous peak of €215.4 million set in the third quarter. It is also 16.4% greater than the €195.3 million recorded in the final quarter of 2022.
Of all income, €154.5 million was attributed to online casino games, up 40.7% year-over-year. This also signifies another new high for Portugal.
Consumers spent €3.84 billion playing online casino games in the final quarter, a 28.7% increase year-over-year, also the highest ever for the market. Slot machines accounted for 83.0% of all wagers, followed by French roulette at 6.9% and blackjack at 4.7%. Other spending was distributed across dice games and poker.
Sports betting income declines further, despite increased spending
In contrast to the growth in the online casino sector, sports betting income fell again. The sector generated €72.8 million in revenue in the final quarter, down 14.8% from €85.4 million in Portugal in 2022.
However, there was some positive news for this market, with player spending increasing by 16.0% to €5.321 billion. This is also the highest for any other quarter in 2023.
As for what Portuguese consumers are wagering on, football is the most popular sport, accounting for 74%.
A significant portion of wagers, approximately seven percent, were placed on the sport of basketball. A slightly higher percentage, 10.8%, was also placed on basketball. Tennis accounted for a smaller portion of bets, at 9.7%, while other sporting events accounted for 4.8%.
The number of new accounts for online gambling saw a notable increase in the final quarter of the year. During this period, roughly 319,500 Portuguese consumers established new accounts, a significant increase compared to the 237,600 new accounts opened in the same period the previous year.
By the end of the fourth quarter, there were an estimated 4.2 million active online accounts in the country.
Alongside the growth in new player accounts, there was a noticeable rise in self-exclusion from online gambling. In the final quarter, this figure reached 215,000, representing an increase of 18,400 from the previous quarter and 63,200 from the same period in 2022.
Furthermore, Portuguese authorities issued orders for the closure of 23 illegal websites during this quarter.
The land-based gambling market experienced a decline in revenue during the fourth quarter. Revenue for the final quarter amounted to €64.6 million, representing a 3.9% decrease compared to the €67.2 million recorded in the same period of 2022.
Revenue from land-based slot machines decreased by 3.5% year-on-year, reaching €51.4 million, accounting for 79.7% of total revenue in the fourth quarter. The remaining €13.7 million was generated from casino-style games and bingo, which experienced a 1.5% decline.
Specifically, American roulette revenue totaled €4.2 million, baccarat revenue reached €3.6 million, and blackjack revenue amounted to €2.8 million.
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