Online gambling regulated in Portugal (finally)

[casasdeapostas.info]

Sorry about the translation, it's from google


"Operators will be required to have a branch in Portugal to pursue the activity in the country. This is one of the assumptions of the legislative powers that the government approved on Thursday by the Council of Ministers, to regulate the activities of virtual betting. The executive wants the new law ready later this year.

In the briefing that followed the Council of Ministers, the Secretary of State for Tourism said that the approved ordinance, which "still require authorization from the Parliament," shall enter into force "later this year". Adolfo Mesquita Nunes explained that the law creates an "open model" in which licenses will be granted to companies who want to develop this activity in Portugal. There is not, therefore, grant "exclusive", as had been requested by the casinos. Contacted, the Portuguese Association of Casinos would not, for now, comment on the proposed legislative amendment.


The online gaming licenses will be awarded upon certain requirements, including a requirement for companies to have a branch in Portugal, "to be held accountable legally and fiscally," or the operating site to be registered with a domain. Pt "to allow greater control "activity, said the official. Mesquita Nunes also stated that financial transactions have to go through a bank account in a credit institution authorized managed from Portugal, and that each user will have a registration itself, with elements of identification.


To compete for licenses, companies will have to demonstrate "good repute requirements" and financial capacity, "previously defined". One of the conditions is to have a minimum capital of 250 000 euros. As the value of the licenses will be subject to a "pay fees to set" which vary for each type of game.


Adolfo Mesquita Nunes stressed that keeps the model currently applied to games of chance and territorial basis (ie physical) in place of Special Tax Game. However, the value will be different modalities. In the case of the online game of chance and mutual betting on horse races in, proposes a tax rate of 15 to 30% on gross income, ie, "on the amount of bets, less the premiums paid by companies to the players." In the sports quota and the quota horse betting tax levied on the total amount of bets "at a rate of between 8 and 16%, varying according to the recipe.


In addition to virtual betting (sports, games of chance and betting), the executive also took to regulate another type of betting, the physical, such as sports betting and the quota. Supervision of the activity will be up to the General Inspectorate of Games, who works in the sphere of tourism of Portugal, whose powers will be strengthened, assured Mesquita Nunes.


The Holy House of Mercy will hold the exclusive exploitation of social gaming in the State, and shall have the responsibility also on the sports quota in physical stores bets, "drawing on the expertise and network and infrastructure" that has clarified the ruling. Ie the SCML may well launch a new game where you bet, for example, the number of goals scored.


The Secretary of State did not advance the values ​​that the Government expects to fit with the regulation of online gambling, whether in terms of licenses, either through taxes that will be charged to operators.


Mesquita Nunes opened the door to potential changes to the law approved on Thursday, after the discussion that starts now in Parliament. However, the Government relies on the votes of parties that support the most, PSD and CDS, to move forward with these new rules.


Since at least 2003 that the rules of such games is discussed. The matter came to be on the table during the eighth and ninth review of the adjustment program. Last year, a second working group was created by the current government to regulate the activity and heard for the first time, operators.


In the State Budget for 2014, the executive Passos Coelho has even included a legislative authorization to proceed with the new law. Later, members of the PSD and CDS presented a more complete document which established that the Holy House of Mercy would be with the operation and supervision of the sports betting and horse betting stay under the umbrella of Tourism of Portugal. The institution also would have the exclusive online game in the country, being able to control and sanction. However, this and other changes were eventually withdrawn, with the favorable vote of the majority.


As the PUBLIC reported at the time, as amended by the Government in Budget 2014 were poorly received by operators, since predicted that the Santa Casa maintained a monopoly on sports betting, a scenario that is not provided for in the adopted version on Thursday Thursday."

[ocreditor]

Good to see more countries moving to regulations

[Casino Online Rating]

Great news! Thanks for sharing!

[harrisrando]

Great - a new market is open

[TheGooner]

Adolfo Mesquita Nunes stressed that keeps the model currently applied to games of chance and territorial basis (ie physical) in place of Special Tax Game.

However, the value will be different modalities. In the case of the online game of chance and mutual betting on horse races in, proposes a tax rate of 15 to 30% on gross income, ie, "on the amount of bets, less the premiums paid by companies to the players."

In the sports quota and the quota horse betting tax levied on the total amount of bets "at a rate of between 8 and 16%, varying according to the recipe.

That is quite a high tariff (tax) on gross profits (bets - payouts), and will result in lower payouts/odds and probably serve to squash a lot of demand from both players and operators to play or run legally regulated sites.

[sweetbet]

That's good news. Definitely a step in the right direction.

[Viriatu]

the one NGO that would have something useful to say about this matter was shafted 3 times with resignations and ****, this is a crazy price to operate on our market, plus will not be a great incentive to players if they have any and i mean ANY chance to play better ods even if illegal they will do it, this turns out to be another stunt that some politician with 0 hands on work will do.

Only positive point of all this is that the goal of casinos to have exclusivity is now out of the question... so not all is bad....

[Jokerman99]

Why do people see these as good things? Market regulation results in players and affiliates making less money, not more. The tax outlined above is ridiculous, possibly unsustainable in the long run.