TLDR Portugal’s online gambling market generated €337.6 million in gross revenue in Q4 2025, up 4.5% year-over-year and 13.6% quarter-over-quarter. Casino games drove €214 million in revenue, up nearly 16% from last year, making up over 63% of total market revenue. Sports betting revenue fell about 10% to €123.6 million despite a 7% increase in total betting volume. Players wagered €5.9 billion during the quarter, with slots accounting for over 80% of all bets placed. The regulator blocked 116 unlicensed websites and reported over 361,000 self-exclusion requests by year-end.
Portugal’s online gambling market closed out 2025 on a high note. The country’s regulator, the SRIJ, released its latest quarterly figures showing record gross revenue for the final three months of the year.
The market brought in €337.6 million in gross revenue during Q4 2025. That figure is 4.5% higher than the same period in 2024. It also marks a 13.6% jump from the previous quarter.
Casino games were the main driver of growth. Online slots and table games generated €214 million in revenue. That is a nearly 16% increase compared to Q4 2024.
Sports betting told a different story. Fixed-odds sports betting brought in €123.6 million. That was roughly a 10% drop from the end of 2024.
Casino Games Dominate the Market
Casino games now account for more than 63% of total market revenue in Portugal. Slots remain the most popular product by a wide margin, taking up over 80% of all bets placed.
Players wagered a total of €5.9 billion during the quarter. That is almost 15% more than the same period last year.
Beyond slots, players spent time on roulette, blackjack, and crash-style games. A local favorite called banca francesa also saw action. Poker made up just over one percent of total play.
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