Portugal would change iGaming law
Online gaming market in Portugal is facing further changes as the government is determined to add amendments.
Portugal.- As the Portuguese online gaming market is offering new services for local residents, the government has decided to add further amendments to change the current law. The changes address Europe’s plan of implementing an international shared liquidity for the online poker market in Spain, Italy, France and Portugal. Furthermore, it contemplates new regulations for the sports betting industry.
“The State Budget Proposal includes amending the law to allow licensed operators in the country to share their gambling platform to provide and promote online games to players registered with different sites in the country,” revealed betting industry entrepreneur Ivo Doroteia.
Serviço de Regulação e Inspeção de Jogos (SRIJ), the Portuguese gambling regulator, has revealed that online gaming revenue increased during the third quarter of 2017. Last month, SRIJ also announced the second quarter results of 2017, where the seven registered online gambling licensees reported revenue of US$30 million. The results establish the first series of decline: ever since the market was launched a year ago, and the second-lowest since the third quarter of 2016, when US$28.4 million were reported. To the end of June, the online gambling market in Portugal has generated revenue of US$127 million approximately.
The market growth has been driven by a hike in sports betting activity. The gaming entity is preparing a proposal to introduce to the European Commission in order to establish economic conditions for the online poker operations. Portugal is joining the proceedings of other countries in the continent which are trying to clarify the rules for the gaming industry.
