Portugal’s evolving market offers an expanding range of slots and casino games for gambling enthusiasts. Seasoned players already know that utilizing bonuses is a way to get more chances by boosting their bankroll. Going through the latest free spins offers on Gamblizard is a great way to find brands that allow you to play slots without adding funds to the account. So, if operators in Portugal want to create more hype then using this tired and tested promo is a perfect strategy. In this article, we’ll explore Portugal’s in Europe’s iGaming market, analyzing its growth, regulations, and how it compares to more established markets like the UK.

Europe’s Digital Gambling Market

In almost all EU member states, apart from Slovenia and Luxenburg, online casinos and sportsbooks are legal. The available data from 2023 puts the revenue generated by this sector at $42.84 billion. The majority of profits were raked in through sports betting, and current projections point to iGaming market generating $60 billion by 2029. As of now, 40% of the total gambling market revenue comes from online casinos and sportsbooks which is a 4.58% increase compared to 2023.

The UK is leading the charge in this category, as they embraced this business model early on. That said, UKGC has tightened its stance over the years to reduce the harm towards at-risk gamblers. Moreover, some UK companies migrated to Malta and Cyprus due to a more favorable tax structure.

Finland, Hungary, and Poland have licensing requirements that are hard to meet, and that makes it hard to compete in those markets. They do this to maintain a state monopoly in this industry. Portugal had a slightly different issue and we’ll talk about it in detail.

From Slow Start to Rapid Expansion

Portugal was behind a whole decade compared to the UK as they made online gambling legal in 2015. Moreover, this first phase was marred by high tax rates and complicated licensing processes. A significant turning point was in 2018 when tax reforms lowered the burden on operators. This led to an increase in licensed platforms, broader game selections, and a sharp rise in player participation.

Portugal’s online gambling revenue reached €266.3 million in Q3 of 2024, a 23.7% increase from Q3 2023 and 1.7% above Q2 2024. This is a clear sign that they are in a recovery phase and that the market has strong potential.

Online casinos achieved a record €175.1 million in revenue, mainly thanks to slots that account for 80.4% of wagers. Meanwhile, sports betting revenue dropped 11.7% from Q2, despite an 11.4% year-on-year increase. Active online gamblers reached 4.5 million, with 269,800 new registrations.

Market Comparison: Can Portugal Catch Up to the UK?

UK players prefer slots, poker, and live dealer games, making casino platforms the biggest revenue drivers. Sports betting on the other hand suffers from content drought, since some international competitions aren’t even held annually. This means casino gaming is a more consistent money maker.

In Portugal, football obsession gets the bettors active, especially during Primeira Liga games or other global tournaments. However, they could do better. As stated younger demographic is actively participating in this region, so casino arcades and poker tournaments should perform well here.

Restrictions & Player Protection: Growth vs Responsibility

The UK puts player protection front and center. Strict advertising rules, deposit limits, and self-exclusion programs are a huge help in alleviating problem gambling. Affordability checks ensure players don’t bet beyond their means.

Portugal takes a different approach. Regulations are strict for operators — heavy taxes, and rigid compliance rules. But when it comes to player protection campaigns, Portugal doesn’t push as hard as the UK. There are rules, but fewer public initiatives promoting safe wagering.

These rules shape the market in different ways. In the UK, putting players first builds trust, but it also means less flexibility, and some companies struggle to keep up. On the other hand, in Portugal, it’s taxation that pushes the operators away, rather than the customer-centric approach. Betting demand is still high, but the weight of compliance and costs slows down growth significantly.

Lessons Portugal Can Learn from the UK

In order to stay on its upward trajectory, Portugal should definitely learn from the success story that is the UK. First, it needs stronger responsible gambling campaigns. The UK actively educates players on safe betting, using tools like self-exclusion programs, deposit limits, and affordability checks. Portugal enforces rules but doesn’t push awareness as much into the public mind.

Second, it should rethink its turnover-based model in favor of a flax tax rate on profit. The current tax system is brutal on operators, especially for online sportsbooks. A revenue-based tax could boost competition by attracting more operators, which leads to better offers for players. And satisfied players lead to – profit.

Conclusion

Despite its successful spike, Portugal won’t catch up to the UK overnight. The UK’s player-first rules and tax system keep it ahead. To keep growing, Portugal needs to adapt. Better responsible gambling campaigns and a fairer, profit-based tax system could attract more operators, giving players more choices and better deals. If Portugal finds the right balance, its market can thrive without stalling growth — but for now, the UK still leads the way.