Positive Portugalia, As iGaming Records Tumble In Q4

For a small country on the western edge of continental Europe, Portugal is making a big noise in iGaming.

While sports betting was down in this nation of 10.22 million people–in line with the goal scoring decline of its football talisman, Cristiano Ronaldo–, online gambling reported a record €227.4 (£194.5m) Gross Gaming Revenue (GGR) in Q4 — the sixth consecutive quarter of growth and 16.4 percent higher than the same quartile of 2022.

In a shuffle away from traditional retail casinos, which saw GGR slide 3.9 percent, year-on-year, in Q4 to €64.6 million (£55.25m); the biggest boost came in iCasino; surging 40.7 percent to €154.5 million (£132.14m), over the same index.

Slots, surprise-surprise, dominated, drawing 83 percent of bets.

But sports betting slumped 14.8 percent, year-on-year, in the quarter, to €72.8 million (£62.26m).

Safer Gambling

Football, again unsurprisingly, was the on-bet sport of choice, drawing nearly three-quarters of all wagers, followed at some distance by basketball and tennis.

Portugal now has an estimated 4.2 million active online betting accounts in the country, which regulated iGaming in June 2015.

Safer gambling and enforcement measures appear to be hitting home in the Iberian, Atlantic seaboard nation.

The regulatory Comissão de Jogos, Gambling Commission, and Serviço de Regulação e Inspeção de Jogos, Gambling Regulation and Inspection Service, cracked down on 23 illegal websites during Q4.

Correspondingly, there was also a significant 41.6 percent, year-on-year, increase in self-exclusion, to 215,000 players in Q4.

Meantime, Portugal’s gambling industry paid €81.4 million (£69.62m) in taxes during the quarter, 26.4 percent more than Q4 2022.

It appears that all’s good–“Tudo Bom”–in iGaming Portugalia.