The Portuguese online gambling market has reached a remarkable milestone, with the Gross Gaming Revenue (GGR) of iGaming operators hitting €337.6 million in the fourth quarter of 2025. This figure represents a 4.5% increase year-on-year and a significant 13.6% rise compared to the previous quarter, according to the quarterly report released by the SRIJ regulator.
Key highlights from the report include:
- GGR and Taxes: €337.6 million in total GGR, with online casinos contributing €214 million (up 15.9% YoY) and betting generating €123.6 million (up 10.6% YoY).
- Online casinos accounted for 63.4% of the GGR, while betting made up 36.6%.
- Tax revenues from the IEJO reached €99.3 million, reflecting an 11.3% increase year-on-year.
Turnover:
- The turnover for online casinos stood at €5.91 billion, marking a 14.8% increase YoY.
- Betting turnover was €571.1 million, up 7% YoY.
- Slots dominated online casino turnover at 80.4%, while football accounted for 75.6% of betting turnover.
Audience Insights:
- The total number of player registrations reached 4.93 million, a 4.5% increase YoY.
- New registrations in Q4 totaled 231.4 thousand, up 23.5% YoY.
- Active players numbered 1.22 million, with a slight increase of 0.6% YoY.
- Self-excluded players totaled 361.4 thousand, representing 7.3% of all registrations.
- 77.1% of players are under 45 years old, with 33.1% aged between 25-34.
- 95.1% of players are Portuguese, with 50.2% being Brazilians.
- 21.8% of players are from Lisbon, and 21% from Porto.
Regulation:
- There are currently 18 active operators and 32 licenses in the market.
- In Q4, 58 notifications were issued to illegal operators, along with 116 requests for website blocking and 2 referrals to the prosecutor's office.
The online casino vertical continues to be the primary growth driver for the Portuguese iGaming market, increasing its share of GGR from 57.2% in Q4 2024 to 63.4% in Q4 2025.