The online gambling industry in Portugal is experiencing a real boom after the introduction of strict regulations in 2015. The legislation has made the market transparent and players protected. It was on this wave that projects emerged that have become the most successful operators in the country and have gone far beyond its borders.
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Estoril Sol Digital: a national legend in digital format
Estoril Sol Digital remains the undisputed leader of the Portuguese market. The company operates Europe’s oldest land-based casino, Casino Estoril, and in 2016 received one of the first online licences. The ESC Online and EstorilSolCasinos brands quickly captured audiences thanks to their strong offline reputation and aggressive marketing.
The operator focused on sports betting and became the official partner of Portugal’s biggest football clubs — Porto, Benfica and Sporting. This brought in a huge influx of players. According to the regulator SRIJ, Estoril Sol Digital’s share of the online gambling market exceeded 28% in 2024. The company was the first to introduce Multibanco instant bank transfers, which are used by 90% of Portuguese people, and launched a mobile app with biometric login before it became mainstream.
Betano: Greek roots and Portuguese soul
The second largest player came from outside, but became one of its own. Betano, owned by the Greek group Kaizen Gaming, entered the Portuguese market in 2019 and in five years has captured almost a quarter of the market. The secret is simple: huge deposit bonuses, cashback of up to 20% and sponsorship of virtually all major sporting events in the country.
Betano became the title sponsor of the Portuguese first division championship, Liga Portugal Betano. Millions of viewers see the brand’s logo every round. The operator actively promotes responsible gaming, which is particularly appreciated by the regulator, and was the first to introduce mandatory limits for new players. The financial results are impressive: in 2024, the Portuguese division’s revenue exceeded €180 million.
Betclic: French experience on Portuguese soil
Betclic, owned by the FL Entertainment group, rounds out the top three. The French operator received its licence in 2016 and immediately occupied the niche of live betting and casinos with real dealers. Betclic Everest Group has invested tens of millions of euros in localisation: 24/7 Portuguese-language support, exclusive slots with national themes and partnerships with local influencers.
The launch of a series of poker tournaments with guaranteed prize pools has been particularly successful. Weekly events attract thousands of players, and broadcasts are conducted in Portuguese. At the end of 2024, Betclic showed a 42% increase in revenue compared to the previous year and consolidated its third place with a market share of about 19%.
What the leaders have in common
All three projects are united by their skilful use of national characteristics. The Portuguese love football and trust brands they see on television and in stadiums. Local payment systems, Portuguese-language content and strict compliance with the law have become prerequisites for success.
The market continues to grow at double-digit rates. In 2024, the total revenue of licensed operators exceeded €900 million, with the three giants described above taking more than 70% of this amount. As long as the regulator does not plan to issue new licences, the leaders’ positions appear virtually unassailable.