Q1 gross gaming revenue rises 13.7%
The Gambling Regulation and Inspection Service (SRIJ) reported online gaming and sports betting revenue of €323.7m for the first quarter of 2026, up 13.7% from €284.7m in Q1 2025. Gross gaming revenue (GGR) has now stayed above €300m for two quarters running, after three quarters below that mark following Q4 2024’s first-ever breach of the €300m line. Full-year 2025 GGR reached €1.21bn.
The Q1 figure fell short of Q4 2025’s record of €337.6m, down 4.1% quarter-on-quarter. The Special Tax on Online Gaming (IEJO) raised €98.1m for the state in Q1, up 18.6% year-on-year.
Casino gaming outpaces sports betting
Online casino gaming generated €204.2m, 63.1% of total GGR, up 20.3% year-on-year but down 4.6% from Q4. Sports betting brought in €119.5m, 36.9% of the total, up 4% year-on-year and down 3.3% from Q4.
Online sports betting handle reached €587m in Q1, up 17% year-on-year and 2.8% on the quarter. Online casino stakes totalled €5.6bn, up 20.7% year-on-year, though down 4.7% from Q4.
Portugal’s closed licensing system
Portugal regulates online gambling under the Legal Framework for Online Gambling and Betting (RJO), a closed licensing system in which only operators authorised by the SRIJ can offer remote gambling and betting to players in the country. Licences cover specific verticals: online casino games and online sports betting are licensed separately, with no single licence covering both.
Licences are granted only to companies incorporated in Portugal or to branches of EU or European Economic Area entities registered in the country. Applicants must demonstrate suitability and technical and economic capacity. Each licence requires a €500,000 guarantee, insurance policy or bank deposit covering player liabilities, plus a separate €100,000 guarantee covering IEJO tax payments. Licences run for three years and are renewable for further three-year terms; the SRIJ can suspend or revoke a licence for non-compliance with reputation, technical or financial requirements.
Sports betting is taxed on turnover at 8%, while online casino and bingo are taxed on GGR at 25%. Operators must also provide self-exclusion, deposit limits and other responsible gambling tools. The SRIJ can order internet service providers to block unlicensed operators within 48 hours of notification.
Betano leads monthly traffic rankings
Web traffic data for the most recent three months shows Betano well clear of the rest of the licensed market, with 7.45 million monthly visits. Betclic follows at 3.45 million, and Solverde.pt at 2.19 million. Casino Portugal.pt recorded 1.03 million visits.
The next tier is led by ESC Online at 531,790 monthly visits, ahead of Bacana Play (325,770), Academia das Apostas (311,470) and BetInAsia (263,280). Forebet drew 246,700 visits and Luckia 222,340.
Further down the ranking, Johnnybet.com recorded 182,060 visits, Vitibet 145,000, Pokerstars 111,810 and 888 Casino 109,830. The traffic spread between Betano and the rest of the top 15 underlines how concentrated Portugal’s licensed market remains, even as overall GGR keeps climbing.
What comes next
With GGR holding above €300m for two straight quarters and casino revenue growing faster than sports betting, the SRIJ’s next report will show whether Q2 extends the recovery or whether Q1 marks another plateau below Q4’s record. Tax receipts tied to the IEJO will move with whichever vertical keeps expanding.
Source: Gambling Regulation and Inspection Service (SRIJ)
