Portugal is a country located in western Europe. It borders the Atlantic Ocean to the west with Spain to the north and east.
Portugal has done a good job in putting together a regulatory framework in 2015 that makes sense on the side of giving foreign operators a chance to enter the country and offer games under an umbrella that protects their players and offers accountability. However, they've also structured their taxes for the industry so ridiculously high that it's highly unlikely that they will get much action, if any, from reputable operators.
Those operators who do enter the market will be virtually forced to offer worse odds than they do for their games in other parts of the world, and that includes worse promotions and worse payouts for the same bets. As a result of these misguided tax guidelines, they've effectively put a chokehold on the industry by creating a situation where as much as half of the gross income for an operator can be paid in taxes and other fees.
The licensing process in Portugal includes the usual things like checking a company's working capital and their reputation overall. However, they also include an agreement for some ridiculous tax rates that include variable rates on sports betting that go as high as 16 percent. These rates are probably a result of pressure from land-based casinos and other lobbies that have been contending that online gambling is killing their business. Regardless of the source, it's simply not going to work, and independent analysts have estimated that Portugal will be lucky to get €5 million of the €25 million in revenues they hope to achieve each year under this tax regime.
The licensing process and regulatory guidelines haven't been around for very long at all at the time of this writing, so there's no real way to know if their regulatory body has any bite to it. With that having been said, they have shown that they're very serious about keeping the games straight in land-based operations, and one would presume that they would keep the same pattern going for their online games. There's no reason to think that they would not at this point, so players will most likely have an adequate level of protection in regulated games.
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