In its quarterly report, the Gaming Regulation and Inspection Service (SRIJ) posted online gambling gross revenues of $335.4 million for the first quarter of FY2025.

This marks a significant drop from a record-breaking high of $379 million posted in the final quarter of FY2024.

Player Registrations Also Down In Q1

The regulatory body has not posted a quarter-to-quarter fall in revenue since back in mid-2022. This latest fall was the largest percentage drop (at 12%) since 2018.

The quarter also saw a quarterly drop of almost 15% in new player registrations.

This all resulted in a 4% quarterly drop in revenues from the nation’s online tax levy, the Portuguese media outlet Eco reported.

Despite the surprise fall, the revenues still make for a 9% year-on-year compared to Q1 of 2024.

Portuguese Gaming Revenues: Unfavourable Sports Results to Blame?

One of the biggest falls came in the online sports betting category, where revenues dropped by 17%. This category has not seen such a big quarter-over-quarter fall since 2022.

The Portuguese Association of Online Betting and Gaming (APAJO) confirmed that a “reduction in the volume of sports betting” was to blame for the broader slowdown.

Volumes dropped by 13% year-on-year and 6% compared to the previous quarter. Gross casino revenues, by contrast, grew by 6% compared to the first quarter of 2024.

However, even this sector experienced a wider drop, falling by 8% year-on-year.

The APAJO was stoical. It pointed out that the margin in fixed-odds sports betting had been “well above average.”

And it said that much was “dependent on the sporting results which in the first three months of the year will have been more unfavourable to Portuguese bettors.”

Shutting Down Illegal Operators Still A Focus

APAJO President Ricardo Domingues said that the first quarter saw “a slowdown in some sectors and even a contraction in others.”

However, Domingues said the drop was a “natural” phenomenon in “market that is still maturing.”

He added: “Our main concern remains being able to absorb demand in the face of the threat from illegal operators.”

Indeed, the report makes mention of regulatory efforts to shut down illegal operators. It said that the authorities have blocked 129 illegal gambling operations in Q1 of FY2025.

Police and courts also ordered 54 operators to shut down in the same period.

Young Bettors Dominate Portuguese Market

The report also showed that the vast majority of Portuguese sports bettors (over 71%) wager on soccer (football) games, with tennis a distant second with 16%.

Online slots, meanwhile, dominate the casino sector, representing almost 80% of the total volume of casino bets.

Most Portuguese bettors tend to be aged under 35, the figures indicate. Almost a third of new registrations came from people aged 18 to 24. And over a third of the total number of people with betting accounts in Portugal are aged 24-34.

Last year, the regulator posted a report showing that revenue from land-based operations decreased year-on-year during Q2 of FY2024.

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Matt Bastock

3 Oaks Gaming has continued its aggressive expansion after receiving regulatory approval in Romania.

Romania’s National Gaming Office (ONJN) has confirmed that over 50 of 3 Oaks’ slot releases have passed checks and will be available in the country. 

A release confirms titles approved by the regulator include, Coin UP: Lightning, 3 Hot Chillies and Sun of Egypt 4. 

Yurly Muratov, Chief Commercial Officer at 3 Oaks Gaming, commented, “Securing certification for our games in Romania represents an important milestone for 3 Oaks Gaming as we continue to extend our reach across Europe.” 

Muratov continued, “The achievement demonstrates our focus on providing engaging, compliant and high-quality content to new markets. Romania is a vibrant and growing market, and we are eager to collaborate with local operators to bring our diverse range of games to players in the country.” 

3 Oaks Gaming can now add Romania to an ever-growing list of regulated countries in which it can offer games. 

2025 has started with strong momentum for 3 Oaks. Although the company received a United Kingdom Gambling Commission remote license in March 2024, it has recently been cleared to launch a broad portfolio of titles after the regulator approved the slots in late January 2025. 

Sebastian Damian, Managing Director of 3 Oaks Gaming, stated, “Securing UKGC certification for our extensive portfolio is a landmark achievement for 3 Oaks Gaming. It underscores our commitment to delivering high-quality, engaging content that aligns with the highest regulatory standards.

He added, “The UK market represents a pivotal opportunity for us, and we are excited to partner with operators to bring our diverse games to players across the region. This milestone is a testament to our dedication to global growth and our ongoing mission to promote responsible and enjoyable gaming experiences.”

Expanding into Portugal: 3 Oaks Gaming Partners with Betclic

Portuguese customers will also be able to enjoy over 40 3 Oak titles, after the games met the regulatory standards set by the Serviço de Regulação e Inspeção de Jogos Turismo de Portugal (SRIJ).

Entry into the Portuguese market comes as part of a collaboration with Betclic.pt, the first operator to secure an online betting license in Portugal in 2016. Betclic will be taking advantage of 3 Oaks titles through IGT PlayDigital, a single integration offering operators a variety of games from third-party studios. 

Krasimir Pankovski, Head of Sales at 3 Oaks Gaming spoke to CasinoBeats last year, emphasizing the company’s focus on Hold and Win games, and being the best in their niche. 

He said, “For us, it is important to focus on our niche, showcasing that 3 Oaks Gaming is one of the top providers of Hold and Win games across the globe and we deliver a high-quality product that continues to evolve.”

Pankovski added, “We also observe that the Hold and Win mechanic still has a hugely successful impact, so it is vital that we ensure that our portfolio remains fresh and unique, subtly adapting this classic series of slots with vibrant and modern twists to ensure they remain in the player’s gaze.” 

Written By

Matt Bastock

Matt is a casino and sports betting expert with over two decades’ writing and editing experience. He loves getting into the nitty gritty of how casinos and sportsbooks really operate in order to make solid recommendations based on real experiences. His favourite games are blackjack and poker, and he loves watching NFL and soccer in his spare time.

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Following the partnership, BGaming’s catalogue of proprietary slot titles has been made available to the operator’s player base in Portugal, bolstering the casino brand’s offering of over 3,000 games. 

Olga Levshina, CCO at BGaming, commented: “We are incredibly excited to expand our footprint in Portugal with a trusted partner like Solverde.pt. This collaboration allows us to bring our innovative games to a new audience, delighting Portuguese players with ever-evolving features and new concepts.

“Solverde.pt’s strong reputation and deep understanding of the local market make it the ideal partner as we grow in this region.”

As a result of the integration, Solverde.pt players will be able to spin the reels on BGaming slots such as Bonanza Billion, Wild Cash and Aloha King Elvis. 

Sérgio Pascoal, Head of R&D at Solverde.pt, added: “We are thrilled to be the first ones to partner with BGaming and welcome their wide-ranging portfolio exclusively to Solverde.pt. As one of Portugal’s leading online casinos, it is essential for us to offer our players the most engaging and diverse gaming experiences.

“BGaming’s renowned titles perfectly complement our mission to provide cutting-edge entertainment and we look forward to growing together in the Portuguese market.”

BGaming CEO Marina Ostrovtsova recently spoke with CasinoBeats at this year’s SBC Summit to explain the advantages of producing a slot featuring hip-hop legend Snoop Dogg, stating that “Snoop Dogg is undoubtedly one of the most iconic characters and influencers on a global scale.

“His team has actively participated in shaping the pictures that we built. I think it’s very cool that they can say to the world that we’re working with Snoop Dogg and his team. His voiceover that we’ve added to the game is probably the coolest thing and it’s added some unique character.”

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CLUBE is a Lisbon-based non-profit organisation supporting youth education, training and employability. The charity has used the donation from BGaming for club premises repairs and organisational needs, as well as to help finance a project supporting children’s skill development. 

Marina Ostrovtsova, CEO at BGaming, said: “Creativity is a proven way to support young children’s development, and we take joy in donating to valuable causes that champion this. Just as BGaming is dedicated to producing the most creative games on the market, we are committed to building strong communities through art.

“The children at The European Intercultural Club are sure to benefit from their time taking part in this semester-long project and we can’t wait to hear about the results.”

The organisation’s ‘Urban Nature Project – A Macro Story’ campaign will hope to help students integrate with the urban environment where they live. Children taking part in the campaign will take part in observatory nature walks before taking advice from local cinematic artist Gonçalo Almeida. 

Almeida will educate participants on the fundamentals of cinema, including narrative, filming and editing techniques with an aim to promote environmental awareness and develop creative skills. 

Ana Quintela, General Coordinator at The European Intercultural Club, added: “We’re happy that BGaming reached out to us, enabling the local school to implement a cinema workshop project.

“This donation came at the perfect time, allowing us to support an educational initiative that aligns with our community’s needs.”

BGaming’s €10,000 donation marks the slot developer’s latest charitable initiative, having recently donated the same amount to a Polish chess school earlier this year. 

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“A dedicated Portuguese language tool that helps those having difficulty with gambling will be most welcome both in Portugal and the newly regulating Brazillian market. It is a great service to show in our dedicated Player Protection Zone at SBC Summit and I look forward to hearing Duncan speak at our Player Protection Symposium.”

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CasinoBeats: Give us an idea of the makeup of the Portuguese market – how big is it and what is the potential future size of the market? 

Lisa Sandner: The Portuguese market is relatively small and somewhat niche for us at Greentube, but it holds significant potential. Over the past few years, we’ve seen substantial growth in the region as we’ve continued to release a greater number of games tailored to the market and have focused heavily on exclusive and localised content. 

Looking ahead, we anticipate further market expansion, especially as more operators receive licenses, which will undoubtedly contribute to a larger and more dynamic gaming landscape in Portugal.

CB: How important is Portugal for Greentube amongst your vast global portfolio of markets? 

LS: While Portugal is a smaller market within our global portfolio, it presents a great opportunity for growth. The potential to expand our presence and collaborate with local operators makes Portugal an important market for us and we are committed to leveraging this potential to strengthen our position and enhance our offerings in the region.

CB: What is Greentube’s approach in Portugal? Do you have a template from other territories that works everywhere, or do you tailor your strategy to each market? 

LS: Our approach to the Portuguese market is quite nuanced. While we do have global strategies that work well across various regions, we also tailor our approach to fit the unique characteristics of each market. For instance, our NOVOMATIC classics are particularly well-received in Portugal because players are already familiar with these titles from land-based casinos. 

Additionally, our fan-favourite Diamond Link Mighty Sevens ranks among the top five performing games in the market, with successful global titles from the Cash Connection Series and Starlight Jackpot – Athena Goddess of War also performing well with players across the country. We are also seeing a significant rise in popularity of crash games with players in Portugal hence our commitment to producing and incorporating more of this content into our portfolio.

CB: What are the biggest Greentube titles in Portugal and how do you know which games will work best? 

LS: In the Portuguese market, some of our biggest titles include the NOVOMATIC classics such as Lord of the Ocean, Lucky Lady’s Charm Deluxe, and Book of Ra Deluxe. We are also seeing a huge surge in popularity of Cash Connection – Charming Lady, Cash Connection – Dolphin’s Pearl, and Diamond Link Mighty Sevens, all of which have been very successful. We strategically release games in Portugal at a slightly later date than the global release, which gives us valuable insights into player trends to help us know what works well and to help us predict what will perform effectively in Portugal in the future as well.

CB: What are the consumer demands of Portuguese players? What types of titles work best? 

LS: Portuguese players show a strong preference for crash games, jackpot titles, buy bonus games, and branded content. These preferences guide our strategy and development to ensure that we are offering the most appealing content for this audience.

CB: Does Greentube have any plans for Portugal in the next 12 months to gather more momentum in the nation?

LS: Absolutely! We have several exciting plans for the Portuguese market, including exploring opportunities to brand games specifically for local operators and focusing on expanding our portfolio of crash games. 

Additionally, we are also working on tailored promotions with operators and aim to release as many exclusive games as possible to further enhance our presence and engagement in the Portuguese market. We are equally excited about exhibiting at the SBC Summit in Lisbon in September, giving us the chance to connect with industry peers and explore new opportunities for Greentube.

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Serviço de Regulação e Inspeção de Jogos, the country’s gambling regulator, reported a 27.1% year-over-year increase in online gross revenue to €261.8m (Q2 2023: €205.9m), generated by 17 licensed online operations.

Of the total online revenue, SRIJ stated that 60.5% came from games of chance operations, while 39.5% came from online sports betting. 

Games of chance revenue stood at €158.5m at the end of the quarter, up 29.9% YoY (2023: €122m), with betting volume of €4.37bn (2023: €3.24bn).

Slot machines had the largest share of games of chance bets during Q2 with 82.3%, followed by French roulette, blackjack, dice games and poker.

Meanwhile, sports betting revenue rose by 23.1% to €103.3m (2023: €84m), with betting volume of €462.3m (2023: €357.6m).

Football betting had the largest share of sports wagers during the period at 69.3%, followed by tennis, basketball and other sports.

With 17 licensed online operators, SRIJ noted that total players were up 16.2% YoY to 4.4 million and up by 3.5% in comparison to the previous quarter. 

New registrations grew by 51.2% YoY to 287,600, while self-exclusion rose by 41.5% compared to Q2 2023, reaching 256,900.

As for land-based operations, SRIJ reported that revenue fell by 4.5% YoY to €63.7m (2023: €66.8m), but up 1.3% in comparison to the previous quarter.

Per gaming type, slots generated 78.41% of all land-based gaming revenue during the quarter, with other casino games filling in the remaining 21.59%. Roulette had the largest share of these other casino games at 36.5%, followed by baccarat, dice games, blackjack and poker.

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Pereira also analysed why it is crucial that operators understand and evaluate the state of new markets before entering them if they are to enjoy success.

CasinoBeats: Can you provide us with more information on the Portugese gambling market and the role of LeBull in the space? 

Tiago Pereira: The Portuguese gambling market has been regulated since 2016, for both sports betting and casino. We are considered a highly regulated market with very specific rules and regulations, mainly we do not have all sports and markets available for betting, there is a list of sports and markets provided by the regulator that we are able to offer (no virtual sports or esports permitted at this time) and for casino the main limitation is no live casino permitted at this time, only RNG (random number generated) slots and table games are available. Poker is permitted with shared liquidity between some other european regulated markets.

There are currently 30 licences in Portugal, distributed by 17 operators offering casino, sports betting and poker. In the first quarter of 2024 the market generated €261m in gross revenue, compared to €227m from Q4 2023.

In terms of taxation, on sports betting the market is paying 8% tax on turnover and 25% tax on casino gaming revenue. 

Lebull.pt entered the market mid-2023 and in 2024 has taken its activity to another level. We have former Portuguese footballer Luis Figo as a brand ambassador and are working everyday to get our brand recognised as a top player in the market.

CB: How important do you believe it is to have a personalised approach when entering new markets and engaging with new audiences? 

TP: When entering new markets it is absolutely necessary to evaluate the current state of the market, evaluate our potential clients and find your own path. While this may seem very generalistic, I believe this is the formula to entering a new market, you need to know the players already present in the market, the market trends and be able to adapt and seek out your own space. 

Now, if you are a big enough brand, your strategy might be to just keep doing what you have always been doing, but you are essentially waiting for the market to adapt to your brand and not the other way around. It is a valid strategy, but is it the best? 

Sure this might be valid and work above the line, but I do believe that below the line you need to be up close and personal, communicate face to face with your users, and you need to understand the essential difference between one market and another, while catering your social media presence, your tv ads etc. to that. You need to be able to speak their language.

CB: As operators enter and look to gain an advantage in the Brazilian market, what will be the key factors that determine their success in terms of engagement? 

TP: The Brazilian market is a very difficult market to decipher, on one side we do share the same language in Portuguese, some customs and even traditions and the same love of futebol. But on the other hand, it is such a big and diverse country and market, to that extent similar to the US, as marketing efforts need to be match the size and differences in the country.

What might seem like a good strategy in São Paulo might not work or translate well in Rio de Janeiro. Again, you need to be able to adapt, have people on the ground as well for constant feedback.

CB: Can you provide us more detail on Google Play’s new regulation and how challenging they could be for gaming operators? 

TP: While we are still unaware of how this will affect traditional regulated markets (like Portugal), I do believe Google is playing it safe in closing some markets. In terms of player protection and transparency, of course the safer route is to have all legal and regulated operators in the Play store readily available.

There is also the elephant in the room when we speak about these big marketing conglomerates like Google and Meta, in which they are in a regulated market, and their internal rules overwrite the law… I guess we will have to wait and see what this new regulation will mean in the near future.

CB: When entering a new market, why is it so crucial to have a deep understanding of player trends and have boots on the ground to understand exactly what the local nuances are? 

TP: I am a strong believer that (most) markets are impossible to manage with teams outside of the market, you need boots on the ground in order to have the specific knowledge of trends and habits to this market. 

If you are doing this abroad, and I am mostly speaking of marketing and support, you are basically using guess work. With the advent of social media content as we see it today this becomes more and more important. You need to be able to speak the specific language of your users. 

This becomes even more evident when you are trying to market sports betting to countries that have a passion, the “easy” route is usually promoting the big five European leagues but you are missing out on a massive piece of the pie when it comes to other modalities. When communicating with casinos and you need to make a connection with content, this needs local understanding.

And when you have open support channels it is crucial to have local people answering local customers. A common misunderstanding is that all English is the same, all Spanish is the same, all Portuguese is the same, but most operators have learned the hard way that localisation when a customer is asking for help is crucial.

CB: What do you believe are some of the key technological developments that can lead to success in new markets? 

TP: The buzzword at the moment is without a doubt, Artificial Intelligence. We are starting to see AI trickle down into sports betting and casinos and overall it could be very positive for the user experience, especially for new gamblers as they are being presented with what AI believes they want to see. 

Machine learning will be, without a doubt, the trend in the next few years in all things IT related. AI will remove the guesswork from CRM and cross selling and everyone is rushing now to be up to date. We just recently implemented an AI engine in our casino homepage at Lebull.pt and are currently testing the results. It monitors gaming activity and presents information on the games based on usage and not just human intuition.

CB: How vital are payment trends to ensuring success is found in new regions and amongst a new group of consumers? 

TP: It is essential to be on top of new payment trends when entering a region, mostly for ease of use and confidence for the players. Traditionally in Portugal, as an example, Multibanco and MBWay have been statistically the main channels of payment, but in the past couple of years we have seen an ease of use (mostly in confidence) with mobile specific payments like Google Pay and Apple Pay. This trend indicates that users today are much more likely to trust the same payment method they use for mobile gaming as for gambling, evolving from the traditional payment methods. 

CB: Can you tell us more about the importance of the event in Lisbon and holding high level discussions with fellow delegates? 

TP: I truly believe SBC Lisbon is going to be a game changing event for our industry, especially in southern europe. This move from Barcelona to Lisbon is a major move for the industry and will put Portugal on the forefront for betting companies. 

I have no doubt in a couple of years Lisbon will be consolidated as a gambling industry hub, and we have this massive event in SBC Lisbon to thank for this. We already have some gambling companies choosing portugal for their main and satellite offices and we will see more and more of this as time goes by. 

Lisbon has been transformed in the last 10 years into a tech hub and one of the main reasons has been Web Summit and it is impossible to negate the comparison between these two events. In September we will have the opportunity to have industry leaders here in Lisbon, under the same roof talking and shaping the future of our industry, and to me as a “Lisboeta” working in this industry it leaves me immensely proud to have been invited to be a speaker at this event.

To find out more about the agenda and to secure your place at the SBC Summit in Lisbon, click on the link below.

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To support this, the upcoming SBC Summit will feature a dedicated ‘Player Protection Zone’, providing a framework for a robust gambling harm prevention ecosystem. This event, welcoming 25,000 industry professionals, will take place from September 24-26 at the Feira Internacional de Lisboa.

The dedicated show floor will provide delegates with the opportunity to explore the next generation of safeguarding systems and products, as well as meet leading safer gambling service providers and associations. Brands already confirmed include BetBlocker, Crucial Compliance, EPIC, GamCare, Gamble Alert, Gordon Moody, Mindway AI, Neccton, Recover Me, Safer Gambling Training, Verifeye Online and W2 by FullCircl.

In addition, the positioning of the zone on the show floor will provide delegates with seamless access to the Food Festival, featuring a series of food trucks offering multiple catering options and a dedicated lounge. 

Rasmus Sojmark, CEO & Founder of SBC, remarked: “The online space has brought a wealth of innovations to the industry, from advanced betting platforms to new marketing avenues. However, with each innovation, there is always a risk that a small minority may seek to exploit it.

“The goal of this zone is to educate companies on best practices, tools, and strategies to ensure responsible gambling and safeguard players. This includes teaching them how to monitor player behaviour and protect vulnerable groups, educating them on current regulations and legal requirements, and encouraging them to connect with experts who can help enhance their protective measures.”

Delegates aiming to enhance their knowledge can look forward to three days of in-depth discussions on the latest issues affecting the player protection sector.

On day one of the educational programme, topics will include the future impacts of emerging technology on responsible gambling strategies, how operators can use existing data to make a meaningful difference in the lives of at-risk players, how operators should respond to increased regulatory scrutiny, how the industry can collaborate with influencers to ensure their interactions with players can be safe as well as profitable, and much more.

On the second day, discussions will focus on how compliance leaders can stay ahead of the curve and ensure thorough oversight, how technology suppliers are incorporating safer gambling initiatives into both new and existing products and the differences and similarities in player protection across established and emerging markets. Additionally, panels will address whether the introduction of affordability checks and loss limits will benefit or hinder industry growth, and how operators can utilise technology, self-regulation measures and partnerships, to enhance regulatory framework implementation.

The final day will spotlight topics including the convergence of responsible gambling with environmental and social governance, the need for internal diversity to effectively address diverse external experiences, strategies for attracting talent from various fields outside the gambling industry, and whether harm prevention initiatives impact long-term profitability.

Player protection and safer gambling experts confirmed to feature across the conference include Fredrik Wastenson (CEO, Svenska Spel Sports & Casino), Tammi Barlow (VP – Global Responsible Gaming, Bally’s), Martin Lycka (SVP for American Regulatory Affairs and Responsible Gambling, Entain), Andrea McGeachin (CEO, Neosurf), Hugo Baungartner (CCO, Aposta Ganha), Mike De Graaff (Co-Founder & Chief Compliance Officer, BetComply), Rasmus Kjaergaard (CEO, Mindway AI), Sam McKnight (Head of UK Compliance & Deputy MLRO, Fitzdares) and many more. 

In addition to the Player Protection Zone, delegates can explore the Sports Betting Zone and Casino & iGaming Zone, the Media Headquarters and dedicated Affiliate Leaders, Payment Expert & ESI Lisbon Summits. Each area will include a dedicated show floor, targeted networking sessions, catering options, and a focused educational programme.

If you are interested in exhibiting or sponsoring at the Player Protection Zone, you can either submit this form or contact our sales team at sales@sbcgaming.com.

Operators and affiliates can apply for free passes to the event. If you are an operator, you can apply for a free pass here, if you are an affiliate, you can apply for a free pass here.

Everyone else can secure their spot at the upcoming SBC Summit with our Early Bird ticket offer, granting access to all three core days of the event, including the exhibition floor, conference content, and evening networking parties, all for the discounted price of just €400.

The post SBC Summit: Safeguarding the Player – Innovations in Player Protection appeared first on CasinoBeats.

The gambling regulators of Austria, France, Germany, Portugal, Spain and Great Britain met in Vienna on June 11-12 to discuss these topics and what must be done to make sure players are protected. 

Collectively, the regulators have released a statement – via the Spanish regulator Dirección General de Ordenación del Juego and French regulator Autorité Nationale des Jeux – making a declaration on how the issues of scratchcard regulation and the jurisprudence of the European Court of Justice should proceed.

In the statement, the regulators said that, regarding the ECJ’s preliminary ruling running in various countries, although the EU guarantees establishment and service-providing freedoms, the court recognises that member states “may impose proportionate restrictions on these freedoms to regulate gambling, and especially to protect gamblers through national laws”. 

However, the regulators noted that many of them “have seen more and more challenges to these principles, notably through some preliminary ruling procedures” and that they “wish to cooperate, or even intervene, in these proceedings to ensure that the court’s case law protecting players is respected”. 

Regarding scratchcards, due to their popularity in some regions and often being shared between parents and minors, the regulators noted that they are committed to working collectively to ensure regulation is implemented effectively for “players’ protection, especially for minors that should not be introduced to gambling through this type of offer” due to the gambling risks involved.

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