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Portugal Legalizes Online Gambling

Portugal Legalizes Online Gambling

A bill to legalize online gambling in Portugal has been approved by the Portugal Council of Ministers and will go into effect in late June.

The bill brings all different forms of gambling in the country under the control of Portugal’s gaming regulator Santa Casa de Misericordia de Lisboa.

The bill is in line with European Union regulations on competition laws and fair business practices, officials said.

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

Operators that gain approval will be allowed to advertise and market their products on approved national media.

Reports say the government is hoping to raise €25 million in online gambling taxes under the new framework.

Operators of online games will face a taxation rate of between 15 percent and 30 percent while sports betting services will pay a turnover tax of between 8 percent and 16 percent.