Portugal issues their seventh online gambling license

The government of Portugal has recently issued out their seventh online casino licenses. Internet casino operators in the country believe that they still make a lot of profits despite the massive tax regime imposed by the Portuguese government.

Portugal issues their seventh online gambling license.

On Monday the SRIJ (Serviço Regulação e Inspeção de Jogos do Turismo de Portugal), a regulatory body in Portugal made an announcement that it has issued the first online casino license for 2017. The license was issued to an online gambling operator, Sociedade Figueira Praia. More so, the internet gambling operator will be offering online sports betting services.

The recently issued out license has brought in a total number of three sports betting websites in Portugal. Bet Entertainment Technology and Betclic Everest Group joined in since Portugal launched its legal online casino gambling industry in May last year.

Sports betting brought in 70% of all the revenue that has ever been reported in the SRIJ’s online marketing report that was issued early this month. However, the revenue brought in by the sports betting market has fallen from about NZD$33.9 million to NZD$26.5 million. This can be as a result of the paucity of sports events. But there’s also a possibility that players might be getting wise to the costs that are associated with the local sports betting houses.

Portugal Online Gambling Industry

The country’s online casino industry had been facing many criticisms before they legalised online gambling. This was because Portugal insisted on sticking with a tax system that most online gaming operators considered being too much.

Sports betting operators are to pay 8% tax on their first NZD$30 million, while wagers that exceed that total will be subject to increased rates that may get up to 16%. The Portuguese government promised to have its online gambling market reviewed next year in May. This will be exactly two years after the market was legalised.

With so much happening on a day to day basis, in the realm of the online casino industry, we at Kiwi Casinos will do the best we can to keep players in New Zealand updated with matters that may affect their online gambling. So, for the best casino news – both locally and internationally, Kiwi Casinos is at your service!