The year 2014 was relatively eventful for the casino industry in Europe as several countries took imminent actions towards legalizing the online gambling activities. It seems like Portugal is about to join Romania, Spain and the Netherlands and introduce the necessary gambling reforms during 2015.
Online gambling legislation is not something Portuguese authorities are unaware of. Actually, back in 2014, such a legislation bill was introduced and what is more, the expectations were the changes to take effect towards the end of 2014.
For one reason or another, the implementation of the changes was postponed for an indefinite period of time due to the fact that there were a few details that needed to be ironed out.
Now, online gambling legislation is back on the agenda and according to the initial plan, the changes will be finally implemented by the middle of this year.
Meanwhile, the Portuguese gambling officials need to pay attention to the following issues as neglecting them may further postpone the legalization of online gambling activities on the territory of the country.
Tax Rates
According to the new bill, all providers of gaming products and services available in Portugal will be supposed to pay a tax, equal to 15% of the gross income provided that the generated turnover is up to €5 million. Those operators that declare income surpassing €10 million will be obliged to pay tax amounting to 30% of their turnover.
Given the unbearably high taxes, there is a slim chance that Portugal would attract many gaming providers. Not to mention the smaller operators that will be basically given no opportunity to gain substantial profits.
Players’ Benefits
Online gambling legislation is said to have a negative effect on the well-being of Portuguese residents. First of all, the high taxes imposed on operators are likely to be transferred to players who will therefore keep their participation in online gambling to the minimum.
Second, authorities need to take the problem gambling awareness into consideration. In addition, Portuguese gambling officials have to make sure that players’ funds and personal safety is guaranteed by the operators that are to be issued a license.
Payment Methods and Deposits
Apart from deciding which would be the payment methods allowed for making deposits and withdrawing funds, local officials will most probably give a second thought to the prohibition of transferring money from player to player. This measure was taken with the aim of raising problem gaming awareness. In other words, a player will not be given a chance to borrow money and spend it on poker or table games.
Meeting EU Requirements
Last but not least, Portuguese authorities will be in charge of making the gambling rules and regulations compatible with the requirements of the EU. In order to achieve that, they need to pay attention to the above-mentioned factors and come up with a proposal that defends the interests of both players and gaming operators.
