Online Sports Betting - Portugal | Statista Market Forecast

Revenue in the Online Sports Betting market is projected to reach US$247.60m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.30%, resulting in a projected market volume of US$320.50m by 2029.
In the Online Sports Betting market, the number of users is expected to amount to 545.2k users by 2029.
User penetration will be 4.1% in 2024 and is expected to hit 5.4% by 2029.
The average revenue per user (ARPU) is expected to amount to US$588.00.
In global comparison, most revenue will be generated United States (US$14.30bn in 2024).
With a projected rate of 48.8%, the user penetration in the Online Sports Betting market is highest Canada.

Definition:

The online sports betting market refers to the segment of the online gambling industry that involves placing bets on various sports events over the internet. This includes a wide range of sports, such as football, basketball, baseball, horse racing, tennis, and many others. Online sports betting allows customers to place bets on the outcome of sporting events in real-time, either before or during the event. These bets can be placed through various online platforms, including websites and mobile apps, which are often operated by licensed online sportsbook operators.

Additional Information

Data includes revenue figures in Gross Gambling Revenue (GGR), which is the total amount of bets placed by customers minus the amount paid out in winnings, Users, average revenue per user (ARPU), user penetration rate, and a breakdown of revenue shares of the total betting market. User and revenue figures represent B2C services.

Online sports betting on various sports such as football, basketball, tennis, cricket, golf, etc.
Esports betting on sports simulation games such as FIFA, NBA 2K, and Madden NFL
Proposition betting on specific events or outcomes in a sports game

Offline or land-based sports betting establishments such as sportsbooks and race tracks
Betting on non-sporting events such as politics, entertainment, and reality TV shows
Illegal or unlicensed online sports betting websites or apps.

The Online Sports Betting market in Portugal has been experiencing significant growth in recent years, driven by changing customer preferences and favorable market conditions.

Customer preferences: Portuguese customers have shown a growing interest in online sports betting, with the convenience and accessibility of digital platforms being key factors driving this trend. Online sports betting allows customers to place bets on their favorite sports events from the comfort of their own homes or on the go, without the need to visit physical betting shops. This convenience has attracted a younger demographic who are more tech-savvy and prefer the flexibility offered by online platforms. Additionally, the availability of a wide range of sports events and betting options has also contributed to the popularity of online sports betting in Portugal.

Trends in the market: One of the key trends in the Portuguese online sports betting market is the increasing adoption of mobile betting. With the proliferation of smartphones and improved internet connectivity, customers can now place bets using their mobile devices anytime and anywhere. This has led to a shift from traditional desktop betting to mobile platforms, with mobile apps becoming the preferred choice for many customers. Another trend in the market is the growing popularity of in-play betting. In-play betting allows customers to place bets on live sports events as they unfold, adding an extra level of excitement and engagement. The real-time nature of in-play betting appeals to customers who enjoy the thrill of following the action and making quick decisions based on the game's progress.

Local special circumstances: The Portuguese online sports betting market has been positively influenced by the regulatory framework put in place by the government. The introduction of a licensing system for online gambling operators has created a more transparent and secure environment for customers. This has helped to build trust in the market and attract both domestic and international operators.

Underlying macroeconomic factors: The growth of the Portuguese online sports betting market can also be attributed to favorable macroeconomic factors. Portugal has experienced stable economic growth in recent years, which has resulted in increased disposable income for many individuals. This has allowed customers to allocate a portion of their income towards leisure activities such as online sports betting. Furthermore, the increasing popularity of sports events and the rise of Portuguese athletes in international competitions have also contributed to the growth of the online sports betting market. As more people become interested in sports, the demand for betting on these events naturally increases. In conclusion, the Online Sports Betting market in Portugal has been growing rapidly due to changing customer preferences, including the convenience of online platforms and the availability of a wide range of sports events. The adoption of mobile betting and the popularity of in-play betting are also driving this growth. The favorable regulatory framework and stable macroeconomic conditions in Portugal have further supported the expansion of the market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Gambling Revenue (GGR) and represent what consumers pay for these products and services.

Modeling approach:

Market size is determined through a Top-Down approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, number of internet users, and internet consumption.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Sports betting is a type of gambling that refers to the activity of placing a wager on the outcome of a sporting event. Events on which wagers are made could be anything from more traditional activities like horse or dog racing to sports such as soccer and American football. Bets are typically made through bookmakers, also known as sportsbooks. These operate both as land-based establishments, for example, at casinos or betting shops, and online. The total amount of money wagered by bettors is known as a handle, while the amount of money earned by a sportsbook after paying out the winners is revenue. In 2022, the sports betting and lottery market size worldwide amounted to 235.46 billion U.S. dollars.