Portugese Online Gambling Changes Slow in Coming

Published Tuesday, September 09, 2014 - Online-Casinos.com
Portugese Online Gambling Changes Slow in Coming

The online gambling industry in Europe is slowly coming together with old jurisdictions such as Spain and Denmark conforming to the laws in the European Union regarding e-commerce. Denmark set a good example of how to build a platform for internet betting that satisfied most of the stakeholders.

In Portugal however the attitude of the respected gambling operator Santa Casa da Misericordia de Lisboa (SCML) is not as compliant just yet. Portugal’s lottery and sports betting operator and monopoly does think of online gambling as a possible threat to existing conditions. In an attempt to quell the fear the organization has on the subject of regulation changes the Remote Gambling Association has stepped up to say the operator should view the move as an opportunity rather than a threat.

The RGA put forth the concept that sensible regulations implemented in other European nations such as Denmark proved successful,  “the incumbent monopoly operators have thrived under new licensing systems. There is no reason that SCML could not be at least as successful in a regime where there will be room for many different kinds of operators to run profitable tax-paying businesses provided that a sensible tax on gross profits is introduced”.

CEO of the RGA, Clive Hawkswood, said, “We completely understand why Santa Casa, which is such a highly respected institution in Portugal, would have concerns about a fundamental change in the betting market. However, we genuinely believe that its fears are not well-founded and that an online betting market with a reasonable tax regime based on gross profits would present it with a huge opportunity. Santa Casa need only look at the example of Denmark for real evidence of this: operators there are taxed at 20% of their gross profits and the previous monopoly operator, Danske Spil, is doing extremely well even though it has now been in competition with a number of other licensed operators for the past few years.”


Related news

Return to Latest News