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Portugal more liberal online gambling environment
Monday October 7,2013 : GOOD NEWS FOR PORTUGUESE ONLINE GAMBLERS
Government moves toward a reform to a more liberal environment.
Portuguese punters may soon be able to enjoy a wider choice beyond the monopoly of Santa Case de Misericordia de Lisboa in legal online gambling....current media reports from the EU nation indicate that government has an appetite for reform, if only to generate additional revenues for its cash-strapped coffers.
Earlier this week the government announced the formation of an investigative group charged with preparing a report and recommendations on how online gambling should be regulated and licensed in a more open market...it's still only a preliminary step, but it's in the right direction.
The group will almost certainly study regulations in other EU countries along with the policies of the European Commission and recent recommendations to the European Parliament.
Logically it should also study the wider international market and the trends that have evolved there among successful regulatory jurisdictions and enterprises.
Two years ago an independent survey estimated that a more open online gambling market could net the Portuguese government around a quarter million Euros in licensing and tax revenues if implemented sensibly - that's a strong inducement for a government wallowing in debt and suffering the effects of the European recession, although any new dispensation will probably be dressed up as consumer protection as has been the case with other governments.
What the Portuguese would be wise to avoid is over-taxation and over-restriction.
Careful study of the declining markets in France and Spain, along with the results of recent independent studies by respected international business service providers, will find convincing arguments against ring-fenced national markets and heavy tax percentages on gross gaming revenues rather than less greedy government takes on net revenues.
And allowing punters to claim rebates for losses as well as paying tax on winnings may encourage them to patronise locally licensed sites rather than offshore operators.
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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