Portugal gamblers want to lessen tax rate

ANAon said that a petition would be presented in Portugal in order to ask the government to lower online gambling tax rates.

Portugal.- The National Association of Online Gamblers (ANAon) of Portugal has revealed the intention to present a petition in parliament that includes 4600 signatures from gamblers that want the government to set a new tax rate.

The association wants to lessen the tax imposed on local online licensed operators, as they some of them, like poker and online casino, pay 30 percent of the revenue obtained. Online sports betting operators pay the highest rate in Portugal, as those who get US$33 million pay 8 percent of betting turnover, and 16 percent of betting revenue. Earlier this month, the gambling regulator from Portugal, the Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ), reported that during the first quarter of the year operators reached good results, even if Portugal is still struggling to get new investors.

Betclic Everest Group, first online sports betting license holder, said that taxes have collected 66 percent of the company’s revenue, and that it leaves almost nothing for promotion and operating costs. The regulatory body said earlier this month that the companies that thad licenses in the country  during the first three months of the year that ended on March 31 generated revenue of approximately US$35 million. The number represents a 13.7 percent increase when compared to the US$30 million that five licensees registered during the last three months of 2016.

Earlier this week, the SRIJ revealed that the country issued the seventh online gaming license to Figueira Company Praia, which is set to offer its sports betting served on its CasinoPortugal.pt website. Figueira now hold the third sports betting license in the country, as bet.pt and Betclic are the other two holders that also are licensed to offer online casino services.