Online Gambling

Portugal

Highlights

Revenue in the Online Gambling market is projected to reach US$855.90m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.86%, resulting in a projected market volume of US$1.03bn by 2029.
The Online Casinos market has a projected market volume of US$403.00m in 2024.
In global comparison, most revenue will be generated United States (US$24.98bn in 2024).
The average revenue per user (ARPU) in the Online Gambling market is projected to amount to US$1.27k in 2024.
In the Online Gambling market, the number of users is expected to amount to 816.4k users by 2029.
User penetration in the Online Gambling market will be at 6.6% in 2024.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Online Gambling market in Portugal has been experiencing steady growth in recent years, driven by changing customer preferences and favorable local circumstances.

Customer preferences: Portuguese customers have shown a growing interest in online gambling, as it offers convenience and a wide variety of options. The younger generation, in particular, is more inclined to engage in online gambling activities, as they are more tech-savvy and comfortable with digital platforms. Additionally, the availability of mobile gambling apps has made it even more convenient for customers to access online gambling services anytime and anywhere.

Trends in the market: One of the key trends in the Portuguese online gambling market is the increasing popularity of sports betting. With a strong football culture and passionate fan base, Portuguese customers are actively participating in sports betting, especially during major sporting events such as the UEFA Champions League and the FIFA World Cup. This trend has been further fueled by the legalization of online sports betting in Portugal, which has opened up new opportunities for both local and international operators. Another trend in the market is the growing demand for online casino games. Portuguese customers enjoy playing a variety of casino games, including slots, poker, and roulette. The availability of online casinos has made it easier for customers to access these games from the comfort of their own homes. Additionally, the introduction of live dealer games has enhanced the gaming experience by providing a more immersive and interactive environment.

Local special circumstances: The Portuguese government has implemented a regulated online gambling market, which has created a favorable environment for operators. The licensing process ensures that only reputable and trustworthy operators can offer their services to Portuguese customers. This has helped to build customer trust and confidence in the online gambling industry. Furthermore, the government has also imposed strict regulations to protect customers and prevent problem gambling. This includes measures such as age verification, self-exclusion programs, and responsible gambling initiatives. These regulations have helped to create a safer and more responsible gambling environment in Portugal.

Underlying macroeconomic factors: The overall economic stability and increasing disposable income in Portugal have also contributed to the growth of the online gambling market. As the economy continues to improve, customers have more discretionary income to spend on leisure activities, including online gambling. This has created a larger customer base and increased demand for online gambling services. In conclusion, the Online Gambling market in Portugal is experiencing growth due to changing customer preferences, such as the demand for sports betting and online casino games. The favorable local circumstances, including a regulated market and government regulations, have also contributed to the growth. Additionally, the underlying macroeconomic factors, such as economic stability and increasing disposable income, have created a larger customer base.

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.