SRIJ, the Portuguese regulator, has reported the licensed market returned €284.7m (£244m) in GGR for Q1 2025, representing an 11.9% decrease compared to Q4 2024.
The quarter-on-quarter (QoQ) decline of €38.3m was primarily driven by a dip in sports betting GGR.
While the Iberian market’s operators posted a slowing down in GGR compared to the backend of last year, the GGR figure is up more than 9% versus Q1 2024.
First quarter sports betting revenue was down 16.9% QoQ from €138.3m to €114.9m as total stakes slipped 5.9% to €501.9m.
On a year-on-year (YoY) basis, sports betting GGR was up 14.3% while stakes were down 12.5%.
Football remained the most popular sport to bet on in Portugal, accounting for 71.2% of all stakes.
The Portuguese Primeira Liga was the most popular competition, followed by the UEFA Champions League.
Tennis was the second-most popular bet on sport, representing 16% of all stakes, with the Australian Open and Miami Open driving the most action.
Basketball took the final podium spot with a 9.2% share.
Casino GGR was down 8.1% QoQ from €184.6m to €169.7m. Total stakes in Q1 declined 9.4% versus Q4 2024 from €5.1bn to €4.7bn.
Looking at the vertical from a YoY perspective, GGR was up 5.9% while stakes increased 7.2%.
Online slots were the most popular game type in the opening three months of the year, with 78.2% of all stakes going through the product.
Banca Francesa (6.5%), roulette (5.7%) and blackjack (4.6%) were the next most popular games during the reporting period, as per the regulator.
SRIJ noted there were 4.8 million active players across Portugal in Q1, with new registrations coming in at 259,300.
As of 31 March 2025, there were 309,100 self-excluded players in the market, representing a 5.7% jump from the end of Q4.
As part of the regulator’s fight against the black market, the body sent 54 closure notifications and instructed internet service providers to block 129 sites.
SRIJ has issued 30 licences to 17 operators in Portugal, split across sports betting and online casino.
The post Portugal posts 12% QoQ slip in revenue for Q1 first appeared on EGR Intel.
Licensed operators in the market reports declines compared to the final three months of 2024, although performances do mark an improvement on Q1 2024
The post Portugal posts 12% QoQ slip in revenue for Q1 first appeared on EGR Intel.