Portugal’s Online Gambling Market Shows Signs of Slowdown in Q1 2025
Portugal. – 4 de Julho de 2025 www.zonadeazar.com First Quarter-on-Quarter Decline in Nearly Three Years Marks Possible Market Plateau
Portugal’s online gambling industry is showing its first real signs of market maturation, with a quarter-on-quarter revenue decline in Q1 2025 — the first such drop in nearly three years.
According to data from the Gaming Regulation and Inspection Service, the industry reported gross revenue of €284.7 million ($335.4 million), a 9% increase year-on-year, driven mainly by strong sports betting margins (23% for the quarter).
However, this figure was down from €323 million in Q4 2024, marking a 12% quarter-on-quarter drop, the sharpest since 2018.
Casino and Sports Betting Revenue Fall Quarter-on-Quarter
Online casino revenue accounted for €169.7 million, representing 60% of the total, up 6% year-on-year but down 8% from the previous quarter.
Sports betting also grew year-on-year to €114.9 million, a 14% increase, but fell 17% compared to Q4 2024, the biggest quarterly drop in this category since 2022.
Market Maturity and Regulatory Confidence
According to Ricardo Domingues, chairman of APAJO (Portuguese Online Betting and Gambling Association), the slowdown is “natural in a maturing market,” adding that the focus remains on countering illegal gambling and meeting demand responsibly.
Despite the revenue dip, active user accounts rose 7% to 4.8 million, showing continued consumer engagement.
Portugal also collected €82.7 million in gambling taxes, aligning with national targets for the Environmental Fund.
H3: A Decade of Legal Online Gambling in Portugal
Portugal’s regulated online gambling market has now surpassed ten years of operation, following its legalization in April 2015.
The sector has grown to include 30 licensees — 13 for online sports betting and 17 for online casinos. In 2024, the market achieved a record €1.11 billion in gross revenue, compared to €845 million in 2023.
Edited by: @MaiaDigital www.zonadeazar.com