Portugal’s Gambling Revenue Tops €1 Billion in 2024 as Sports Betting Surges

Portugal’s gambling market cleared the €1 billion mark in total revenue for 2024, according to the annual report from the country’s Gambling Regulation and Inspection Service (SRIJ).

The year-end total represents a 42% increase compared to 2023.

Total betting handle across all verticals hit €19.5 billion, while payouts to players came in just under €18.5 billion.

Tax revenue from gambling climbed to €357 million for the year — a 33% increase over 2023. Roughly €153 million came from sports betting, while €203 million was generated from casino games and other gambling products. Portugal taxes operators at 33% of their net revenue.

By the close of 2024, Portugal had 30 licensed gambling operators. Thirteen of them were cleared for sports betting, while 17 held licenses for casino and other gaming products.