The Portuguese digital gaming niche has once again set a new benchmark, with an income reaching an all-time peak of € 261.8m ($ 289.2)m in Q2 of 2024. This represents the eighth sequential quarter of unprecedented earnings, marginally surpassing the last maximum of € 260.8m ($ 288.75)m set in Q1 2024.
According to the Serviço de Regulação e Inspeção de Jogos (SRIJ), the Q2 profit marks a significant 27.2% increment compared to the period from April to June 2023, indicating the continued expansion of the digital gambling market in Portugal.
Online Casinos' Leading Position
Virtual amusement platforms continue to dominate Portugal’s entertainment landscape, generating € 158.5m ($ 175.48)m to the joint Q2 revenue. This figure displays a 29.9% boost from the € 122.0m ($ 135) m gained in Q2 2023. However, it represents a negligible dip from the € 160.3m posted in Q1 2024.
Portuguese gamblers bet an impressive € 4.37bn ($ 4.84)bn on web casino titles in Q2, a 34.7% increment year-on-year and a marginal 0.4% rise from the previous trimester.
The immense majority of these stakes were placed on:
- slots — 82.3%;
- French roulette — 6.5%;
- blackjack — 4.9%;
- dice titles and poker shared the rest 6.3%.
Achievements in Betting
The sports wagering division also saw a substantial upsurge, with income soaring to € 103.3m ($ 114.37)m. This represents a 23.1% increment from Q2 2023 and a 2.8% rise from the first 3 months of 2024. Despite the Euro 2024 soccer event's launch in June, spending in this sector was 19.5% lower than in Q1.
However, punters still wagered € 462.3m ($ 511.84)m on sports in Q2, a 29.3% year-on-year upturn.
Increased Customer Engagement
The second trimester of 2024 is characterised by notable growth in virtual gaming activity:
- new registrations — 287,600;
- account closures — 136,800;
- active profiles over 4,4m.
Self-exclusions also rose, with 47,300 individuals deciding to opt out of playing in Q2. This increase resulted in 256,900 accounts terminated by users till the quarter's end.
Decline in Offline Gambling
Despite the booming virtual casinos niche, Portugal's landline entertainment businesses saw a slump in Q2 of 2024. The total income for in-person gambling fell by 4.5% year-on-year, amounting to € 63.7m ($ 70.53)m.
The breakdown of this decline reveals the following:
- Physical slot machines, representing the bulk of land-based earnings, showed a modest increase of 0.8%, bringing their total profit to € 50.0m ($ 55.36)m.
- Traditional casino and bingo titles' income dropped significantly by 19.9%, totalling € 13.8m ($ 15.28)m.
- Baccarat, blackjack, and American roulette were the less popular content.
Portugal’s digital gambling sector thrives, driving substantial income gains and maintaining its role as a major contributor to the European gaming landscape. However, the contrasting drop in offline gambling shows a changing customer preference towards virtual platforms, marking a pivotal moment in the industry’s evolution.
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