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Portugal Issues 2nd Online Sports Betting License
Thursday, July 7, 2016 : SECOND ONLINE SPORTS BETTING LICENSE ISSUED BY PORTUGAL
But poker licenses remain bogged down by bureaucracy.
The Portuguese regulator Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ) has awarded its second online sports betting licence to Bet Entertainment Technologies Ltd., an operator powered by SBTech software.
Undeterred by the heavy turnover-based taxation imposed by Portugal, the Malta-based operator has opened an office in Lisbon to service clients and is promoting a Portuguese Youtube vid here: https://www.youtube.com/watch?v=WoApaqUkM1E.
The only other license so far issued in the liberalised market went to Betclic last May following the official opening of the market in February 2015.
Land casinos operator Estoril-Sol, Amorim Turismo and Solverde has indicated an interest in licensing, along with Santa Casa da Misericordia de Lisboa.
The online poker possibilities in Portugal remain bogged down by bureaucracy. After originally eschewing the idea of player pools shared with other EU regulated markets, Portuguese officials changed their minds and decided it might, after all, be a good thing.
They set about making the necessary changes, but these have to be approved by the European Commission, and the Portuguese regulator is reportedly now drafting the necessary regulatory amendments for submission to the EC.
The bureaucratic process is likely to take until November or beyond to produce the necessary authority to issue online poker licenses, according to a number of industry observers.
In related news, the long-delayed and frequently postponed liberalisation of the Dutch online gambling market may also be on the move, with reports indicating that Dutch parliamentarians could vote this week on the bill and its many amendments.
These include a harmonised land-online gambling taxation rate and provisions curtailing the ISP-blocking powers of the Kansspelautoriteit (the Dutch gambling regulator)
However, if you think that the Portuguese and Dutch taxes are tough, spare a thought for Czech Republic online casino operators in that newly regulated market. They have to contend with a 35 percent tax rate based on GGR, and a 19 percent corporation tax based on income!
Sports betting and lottery operators have a more lenient 23 percent tax rate on GGR, but still face the corporate tax.
Adding to the difficulties in turning a decent profit, the Czech politicians have imposed stiff restrictions, for example in online poker the largest bet permitted is capped at the equivalent of $41, and the maximum win allowed for a single game or tourney is just over $2,000.
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2017 Aussie Millions Event 1 -
The Melbourne-based player bested a field of 1,565 entries - 245 up on last year's equivalent - to end up in the heads up with New Zealnad's Qiang Fu, but not before both he and Qiang had narrowly escaped at the four-handed stage when they were the low stacks.
Swiss Reject idea to Block Gambling Websites -
The Legal Affairs Committee of the Swiss National Council has nixed new regulations which would have blocked access to online gambling sites in Switzerland, according to local media reports Tuesday.
Growth Ahead For Online Gambling -
Transparency Market Research has issued a teaser on its latest international online gambling and betting survey, forecasting that the industry will grow at a Compound Annual Growth Rate (CAGR) of 10.8 percent by 2024.
New Qubit software For SkyBetting -
#qubit Sky Betting & Gaming aims to top its record 50 percent revenue growth last year with new player differentiation software and expertise provided by the Qubit company.
Slotfather II Slot Launching -
#betsoft The first is a sequel to the popular gangster-themed online slot Slotfather, unsurprisingly titled Slotfather II, whilst the other is a new 243 ways-to-win game titled Fa Fa Twins..
Massachusetts Online Lottery Bill -
Flanagan's confidence was clearly boosted by the bill's success in the Senate last year, although it was not developed by the House and ran out of time.
Italy Doing Well With Online Sports betting -
The latest numbers from the Italian regulator show that online sports betting remains king when it comes to internet gambling in the market, generating Euro 391.8 million in turnover in December 2016.
Michigan To Reintroduce Online Gambling Bill -
#Michigan state Sen. Mike Kowell's staff have confirmed that the senator plans to reintroduce his online gambling legalization bill, which failed to make it through the last legislative season.
MGM Buys DC office building For lobbying team -
#MGM Resorts International has bought a new Washington, D.C., office building for its in-house lobbying team, led by former chief counsel to the now retired Nevada Sen. Harry Reid, Ayesha Khanna.
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