Portugal: analysis of Q2 2025 results

The Service for Regulation and Inspection of Gaming (SRIJ) has published its report for Q2 2025. In Q2, 17 licensed operators had 30 active licenses.

Gross revenue from legal online gambling reached €287 million, up 9.6% compared to Q2 2024. The report notes significant growth in iGaming, stable activity in sports betting and strengthened measures against illegal operators.

Key figures

GGR: €287m (+9.6% YoY)
Taxes: €81.2 million
iGaming: €177.8 million (+12.2%)
Sports betting: €109.2m (+5.7%)
Betting volume: iGaming €5.04 billion (+15.4%), sports betting €457.3 million (-1.1%)
Registered players: 4.87 million (+9.9%)
Active players: 1.12 million (-2.6%)
Age: 25-34 years (33.5%)
Self-exclusions: 326,400 (+27% QoQ).

Popular destinations

Sports betting: soccer 67.7%, tennis 21.8%, basketball 6.5%
iGaming: slots 79.1%, French bank games 7%, French roulette 5.3%

Control and supervision

Closing notices: 97
Blocked sites: 110
Since 2015: 1,522 notifications to illegal operators, 2,501 blockings, 49 cases to the prosecutor's office

Conclusion

Slots and soccer betting remain the main drivers of the sector.

Active regulation and growth of the online segment confirm the market's stability, but the decrease in the number of active players may indicate that the local market is reaching a plateau after several years of rapid growth.

The maturity of the market means that legal operators are likely to emphasize player retention rather than attraction in order to strengthen their market position.