Europe is presently in the process of a major transformation of the online casino gaming industry. As the software becomes prevalent, many more nations are taking the time to properly regulate the inner works. Portugal has been forward-thinking in their approach to market growth in the casino industry for some time. However, they appear to be seeing the benefits of regulation thanks to a significant jump in revenue in the third quarter of 2018.
While the 2018 FIFA World Cup no doubt played a role in the growth of the market, online casino gaming was deemed to have played the most significant role. Indeed, new figures from the national regulatory body, the Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ), showed a significant jump of around €9.2m. The same period in 2017 produced around €29.3m, while this year seen around €38.5m generated. That’s a big jump, but it’s still an issue in some ways.
For example, around €17m of this went directly to the government. This means that the contentious tax platform that’s been in place for a while sees as much as 16% of betting revenue claimed. That a fair chunk. However, the fact that online gaming is changing so much shows just how much the eight online regulated licensees have helped to correct the national benefit.
While it would be nice for some more changes to come, it’s safe to say that Portugal is seeing the benefits of reformation.