Portugal’s regulated iGaming market up by 8 per cent

Business News

Portugal’s regulated iGaming market grew by 8 per cent during the first quarter of 2018.

Portugal’s regulated online gambling market generated overall revenue of €122.5 million in 2017, its first full year since new laws took effect. The fourth quarter of the year was the one to bring in the most revenue, as the amount of €36.5 million was produced in revenue during that period.

The Portuguese government collected €54.3 million in tax revenue from the local market’s eleven licensed operators in 2017. That amount represents a 44% effective tax rate. However, the government taxes different types of gambling services provided in the country in a different manner. Online sports betting operators are thus taxed at between 8% and 16% on turnover, while online casino operators, including those providing online poker only, are taxed at between 15% and 30% on revenue.

Portugal’s regulated online sports betting market was worth €68.1 million during its first full calendar year. In other words, the country’s four licensed operators generated more than a half of the overall online gambling revenue during that first year.