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Portugal GreenLights Online Gambling Law

Friday June 20,2014 :  PORTUGUESE GOVERNMENT GREEN LIGHTS ONLINE GAMBLING LAW
 
Will parliament rubberstamp the legislation?
 
Portugal's slow but inexorable march towards nationally regulated and licensed online gambling  continued Thursday with the news that the government has signed off on the proposed legislation, which now goes to parliament for its imprimatur.
 
Portugal's Secretary of State Adolfo Mesquita Nunes, said the law now requires only a formal final approval by the National Assembly, and should come into force before the end of 2014.
 
The draft has continued to shy away from the monopolistic, state-owned model that at one time appeared inevitable, and licensing will be available to companies in much the same way as it has been possible in other European nations like Italy, France and neighbouring Spain.
 
The regulator and licensor will be a body titled Inspecção Geral de Jogos, which currently operates within Portugal's tourism ministry, although it will be substantially beefed up, according to Nunes.
 
Licensing requirements will be stiff and include probity checks and financial limits that include a minimum share capital of Euro 250,000, and companies must be registered and located in Portugal, using Portuguese domains.
 
Tax rates will be similar to those applied to the land gambling business, with tax revenues devoted to finance and sports coffers.



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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