Portugal Sets New High in iGaming Revenue
Fueled by Sports Betting, the iGaming Sector Roars Ahead
iGaming's momentum shows no signs of slowing, with an expected increase in revenue of 41% in Q4 of 2024, trumping 2023's numbers. Interestingly, the sports betting segment recorded a staggering 90% surge in revenue over the same period, according to Affpapa reports. The number of active players has also swelled by 12% year-on-year, boasting a solid 4.7 million online participants, the majority of whom are under 45.
This gambling juggernaut is expected to rake in €357 million in revenue, a substantial 33% rise from 2023. Sports betting pocketed €153 million, while the online casinos netted €203 million.
Modern Trends and Future Outlook
Evolution of Sports Betting
- With a current worth of over $329 billion, the global sports betting industry owes its boom to a surge in legalizations and innovative technological leaps. In the U.S., sports betting has now been made legal across 39 states, with several reporting a healthy revenue growth [1][3]. For instance, DC alone profited €53.7 million in 2024, reflecting an impressive 11.6% hold [1].
- Thanks to cutting-edge mobile and online betting platforms, users can now enjoy real-time in-play betting, drastically boosting user engagement and triggering a significant increase in marketing spending. Many sportsbooks are splashing substantial cash on digital advertising and sponsorships, funneling millions into their marketing budgets each year [5].
iGaming's Expansion
- Often entwined with sports betting, iGaming platforms cater to a comprehensive gaming experience. This powerful duo is driving the overall expansion of the gaming sector [3].
- iGaming regulation differs from state to state, and there is a growing trend towards making online casino games legal in more states [3].
- Although specific iGaming revenue figures are seldom reported compared to sports betting, this sector is on track to grow in sync with broader gaming industry trends. The commercial gaming industry has displayed a 4.2% surge in total revenue in February 2025 [4].
Active Player Base and Recurring Issues
- The explosion of easy access through mobile apps has propelled the number of active players in both sectors, creating concerns about gambling addiction and social consequences [3].
- Regulators are under immense pressure to maintain a delicate balance between providing accessible gambling options and shielding consumers from compulsive gambling habits [3].
- The iGaming sector's revenue is forecasted to surge by 41% in Q4 of 2024, surpassing the industry's 2023 numbers.
- The sports betting segment within iGaming recorded a remarkable 90% increase in revenue during the same period.
- The number of active players in the iGaming sector has swelled by 12% year-on-year, with a solid 4.7 million online participants.
- The global sports betting industry, now worth over $329 billion, is driven by a surge in legalizations and innovative technological leaps.
- The explosion of easy access through mobile apps in both sports betting and iGaming sectors has led to concerns about gambling addiction and social consequences.
