Legal Online Gambling Coming to Portugal

Published Monday, May 04, 2015 -
Legal Online Gambling Coming to Portugal

Online gambling has proven to be a money generator for countries all over the world who have regulated and licensed the activity. The market for the products offered by online gambling operators has grown significantly along with the availability of mobile technologies and broadband internet. Europe is leading the global market share in online gambling with 46%, followed by Asia-Pacific with 28% and North America at 17%. With the new legislation coming into play in the US, their slice of the pie is bound to increase. European countries in the mean time have responded to the demand by reforming gambling laws to include interactive gaming.

Although the regulation of online betting has been a long time coming in some jurisdictions in the European Union it is clear that most areas are complying with European Commission rules requiring free trade in the e commerce sectors of the European Union’s membership. Portugal a member of the E.U. since 1986 with a population of over ten million has finally liberalized its online gambling industry with new legislation that will come into effect in June of 2015.

The change is significant for a country that was the first and longest global empire in history, spanning almost 600 years. . June 28, 2015 marks the first day of online gambling licensing and regulation.
 The last 10 years has seen the debate over gambling develop and finally the Secretary of State for Tourism, Adolfo Mesquita Nunes, announced the launch date of June 28th as the date when players within Portugal’s borders will be able to punt online.

Nunes commented on the event, “We are preparing everything so that on June 28 the technical control structure is operating," Nunes continued, "The intention is to sign up as many operators as possible, particular international ones.” The Santa Casa de Misericordia de Lisboa will take care of the administration of the three year licenses and regulatory framework. It has been suggested that the new taxes and licensing fees will generate extra revenues of €25 million.

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