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September 21, 2020

New regulation will produce USD 27M

Portugal approves online gambling bill

Portugal approves online gambling bill
Online gambling bill to legalize online gambling activities in Portugal has been approved by the Portugal Council of Ministers. The nation will bring the bill into legislation June 28 2015. The online gambling bill will oppose frameworks for all different
Portugal | 05/04/2015

Online gambling bill to legalize online gambling activities in Portugal has been approved by the Portugal Council of Ministers. The nation will bring the bill into legislation June 28 2015. The online gambling bill will oppose frameworks for all different forms of gambling which will be monitored under Portugal’s gaming regulator Santa Casa de Misericordia de Lisboa.

A

t a recent press conference, the Secretary of State for Tourism, Adolfo Mesquita Nunes,  said, “This regime is a liberal one as it allows the distribution of licenses without limit, there is no exclusivity.” “The intention is to sign up as many operators as possible, particularly international ones,” continued Nunes.

The new bill is in accordance with the new governed European Union laws and regulations for fair business practices. The Portugal Council of Ministers released the following statement regarding the passing of the bill,

“The bill will proceed with the regulation of online gambling in line with the recommendations issued by the EC on this matter and the international best practices. Licenses will be awarded to all the companies that will ensure the full respect of a set of financial, economic and technical requirements.”

One of the main issues with the framework that will be discussed and implemented is the €25 million in gambling tax. Online operators will have a licensing window to apply and obtain their license. Once operators are approved they will be given the allowance to market and advertise their services and products.

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