Adolfo Mesquita Nunes, Secretary of State for Tourism, held a press conference today to announce the new online gambling legislation which for the first time in Portugal's history allows its residents to have a flutter using their computers.
"This regime is a liberal one as it allows the distribution of licenses without limit, there is no exclusivity."
Online gambling currently is illegal in Portugal and the new laws will enable both those in the country and those elsewhere to play on Portuguese gambling sites as the new Decree-Law No. 66/2015 enables "foreign players to play in Portugal."
Nunes hopes the legalisation of online gambling will raise €25 million in additional tax revenue, just as well as this already in in the State Budget for 2015.
Santa Casa da Misericordia de Lisboa, the controller of all gambling in the country including the national lottery, gains ‘new responsibilities’ and the revenue will come from selling licenses for periods of three years at a time.
Applicants have to show they are reputable and will have to lodge financial guarantees before they are allowed to launch their sites on a gambling-hungry public.
"We are preparing everything so that on June 28 the technical control structure is operating," said young Nunes, baffling many journalists.
His control system is the result of a €300,000 investment but this will be recouped through the regulation service and something called ‘gaming inspection.’
"There was no increase in spending needed for Portugal to become a regulator," claimed Nunes who says he is all ready to go, with rates set and license application templates ready.
“The intention is to sign up as many operators as possible, particularly international ones,” says Nunes who aims for the period between the application and granting of licenses to be "a matter of days."
There are licenses on offer for sports betting, horse racing, bingo and games of chance but the elephant in the room is the high tax take the government expects to grab from this fledgling industry, between 8% and 30% of gross revenue depending on the type of licence.
"Criticism from operators on the taxation rates is normal," said Nunes in response to comments about the eye-watering tax rates, adding that the Portuguese model follows European ones such as in Spain, France and Denmark.
