Key Moments:
- Portugal posted €287 million in gross gaming revenue in Q2 2025, reflecting 9.6% growth versus Q2 2024.
- Games of fortune produced €177.8 million in revenue, outpacing sports betting and rising 12.2% year-on-year.
- Self-exclusion registrations climbed 27% to 326,400 as authorities blocked 110 unauthorized sites during the quarter.
Market Performance Drives Industry Dynamics
The Gaming Regulation and Inspection Service (SRIJ) reported that Portugal’s gross gaming revenue for Q2 2025 reached €287 million ($316 million), a 9.6% increase from the same period in 2024. This growth was achieved with seventeen licensed operators holding thirty active licenses, while the Special Online Gaming Tax added €81.2 million to state coffers.
Games of Fortune Prevail, Sports Betting Treads Water
During the quarter, games of fortune stood out, delivering 62% of gross revenue with €177.8 million, up 12.2% year-on-year. In contrast, sports betting made up the remaining 38% at €109.2 million, marking a 5.7% rise over Q2 2024 but a decrease of 5% from the prior quarter. The volume of sports betting reached €457.3 million, showing a 1.1% drop year-on-year and an 8.9% quarter-on-quarter decline. Meanwhile, games of fortune saw betting volumes hit €5.04 billion, representing an annual increase of 15.4% and growth of 8% over the previous quarter.
| Segment | Gross Revenue (€ million) | Share of Total (%) | Year-on-Year Change (%) |
|---|---|---|---|
| Games of Fortune | 177.8 | 62 | 12.2 |
| Sports Betting | 109.2 | 38 | 5.7 |
Player Preferences and Registration Trends
Within games of fortune, slot machines were the clear favorite, representing 79.1% of wagers. French banking games accounted for 7%, and French roulette for 5.3%. On the sports side, football comprised 67.7% of betting activity, followed by tennis at 21.8% and basketball at 6.5%.
Player registrations totaled 4.87 million by the end of the quarter, rising 9.9% from the prior year, with 211,000 new accounts created. However, the number of active players slipped by 2.6% year-on-year to 1.12 million. The age group 25-34 formed the largest segment at 33.5%, and 77.8% of registrants were under 45. Portuguese nationals represented 94.6% of all registered players, while Brazilians made up 49% of international sign-ups.
Geographical Hotspots Lead Market Activity
The districts of Lisbon and Porto registered the highest player activity, accounting for 21.7% and 21.1% of sign-ups, respectively. This pronounced concentration underscores the maturity and digital adoption of gambling platforms in these major urban centers.
Regulatory Efforts and Market Integrity
Self-exclusion registrations expanded by 27% to 326,400 compared to Q2 2024, demonstrating increased use of responsible gambling measures. Enforcement intensified with 97 closure notifications sent to illegal operators, and 110 unauthorized websites blocked during the quarter. Since the establishment of regulated gambling in Portugal in 2015, authorities have issued 1,522 notifications to illegal operators and blocked 2,501 unauthorized sites, sending 49 cases to the Public Prosecutor’s Office.
- Author
Daniel Williams
