Portugal has set a new record for online gaming income.

In Q3, Portugal online gaming revenue hit a record €215.3m, rising 36% YoY. The Gaming Regulation and Inspection Service revealed Q3 igaming taxes surged from €28.7m (2022) to €64.8m.

Games of chance contributed 62%, and sports betting 38% to the total. In the land-based sector, casinos and slot machine rooms saw a 14% QoQ increase, generating €76.1m.

Monthly gross gaming revenue peaked in August (€27.2m), followed by July (€25.8m), and September (€23.1m).

 

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The latest figures from Portugal's Gaming Regulation and Inspection Service (SRIJ) show that the online gaming industry in the country experienced impressive growth in Q3. Revenue reached a record-breaking €215.3 million, representing a YoY increase of 36%. This surge in revenue also resulted in a substantial increase in gaming taxes, with Q3 seeing a rise from €28.7 million in 2022 to €64.8 million.

Breaking down the revenue by game type, games of chance accounted for 62% of the total, while sports betting made up the remaining 38%. This highlights the popularity of both categories among Portuguese online gamers. On the land-based side, casinos and slot machine rooms saw a significant 14% increase in QoQ revenue, reaching €76.1 million.

Examining the monthly gross gaming revenue, August was the peak month, generating €27.2 million. This was followed by July, with €25.8 million, and September, with €23.1 million. These figures indicate a consistently strong performance throughout the quarter.

The growth in Portugal's online gaming industry is certainly impressive and suggests that the sector is thriving. The increase in revenue and taxes reflects the growing interest and participation in online gaming in the country. It will be interesting to see how the market continues to evolve in the coming months and how it compares to other regions in terms of revenue and growth.