Portugal’s President Anibal Cavaco Silva has approved a new online gambling bill that provides licenses for interested operators. The online gambling market will open on the 28th of June.
Adolfo Mesquita Nunes, Portugal’s Secretary of State, specified that the dispersal of licenses will be infinite and that the government has the real intention to welcome international operators which will surely build hopes for an international online gambling market in the country.
With the approval of the new bill, companies will now be able to legally operate in Portugal. Prior to this, the government has been dominating the gambling industry by controlling the Santa Casa da Misericordia charity house.
Nunes stated that the new licensing system will be powerful due to the immediate process of granting the licenses. Santa Casa da Misericordia will remain a managing constituent.
In the summer of 2014, The Remote Gambling Association notified that introducing high taxes such as 8%-16% on online sports betting will affect the international market causing operators to avoid Portugal. Also, an additional tax of 15%-30% on online casino and poker revenues will intensify the negative feedback.
The approval of the online gambling bill provides a higher perspective for Portugal to step inside the online gambling industry and grow its visibility for international operators. However, the taxing policies will cause operators to take precaution. Most certainly Portugal will take the online gambling industry to a whole new level.