Portugal Gambling License
- Portugal has proposed a new 25% tax on online gambling revenues in the country as it looks to make significant changes to its gambling sector in order to meet budget demands. Previously, Portugal imposed a punitive tax in place on sports betting revenue, which could now be abolished.
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Portuguese casino operator Solverde Group has secured an online sports betting licence in the country.
Just in time for the summer soccer, the Portuguese gaming regulator has taken the “decisive step” of issuing the first online gaming license in Portugal. Betclic is the recipient of license number 001, which authorizes the company to offer sports betting online to Portuguese citizens.
Awarded by the Comissão de Jogos do Turismo de Portugal, the new licence will enable Solverde to accept online sports bets through its Solverde.pt website.
Portugal Gambling Authority
Solverde, which operates five land-based casinos across Portugal, also holds an online casino licence in the country, offering a range of casino style games via Sasinosolverde.pt.
The new licence comes after national regulator Serviço de Regulação e Inspeção de Jogos (SRIJ) last month revealed that online gambling revenue drastically increased under lockdown.
Portugal Gambling License Bureau
Operators recorded a total of €138.9m (£128.1m/$164.8m) in the first half of 2020, up by 44.2% on a year-on-year basis.
Portugal Gambling License Requirements
However, SRIJ also noted that this boost appeared to be short-lived, with June revenue returning to pre-pandemic levels.