Portuguese regulator Serviço de Regulação e Inspeção de Jogos has issued its seventh online gambling license to Sociedade Figueira Praia, a Portuguese betting and casino company.
The company offers sports betting under the Casino Portugal brand.
Since reforming its gambling laws in 2015, the gambling regulator has granted three sports betting licenses, three casino licenses, and a poker license. Two of the operators hold two licenses, meaning only five companies are licensed in the country.
Though Portugal created a regulatory framework for online gambling under the urging of the European Union, it’s high level of taxes is seen as a detriment to attracting new operators to apply for licensing. The country taxes sports betting turnover, rather than revenue. Sports betting operators pay up to 16% on the stakes made by local players. Casino games, however, are taxed on revenue, but that can reach as high as 30 percent.
