Regulated Online Gambling Could Be the Answer for Portuguese Troubles

Traditional opponent of online gambling activities, Portugal, seems to be considering a change to the regulation in order to generate tax profits.

The hard stance on online gambling in the country has always been explained by the government’s desire to protect the state lottery monopoly, operating in full compliance with Portuguese gambling laws, from foreign operators.

However, Portugal is seriously lacking some cash and the idea of regulated and more importantly taxed online casinos in Portugal doesn’t seem that bad now.

Late last year Portugal gambling news laid their hands of details from an internal government document, which overviewed the pros and cons of legal online gambling as one of the solutions for urgent financing of pension needs.

Back then the study concluded that legalization of online gambling in the country could potentially generate up to EUR 250 million for cash-strapped government coffers.

The discussion was back on the table this February, when a source within the Ministry of the Economy confirmed that the idea is progressing.

Advisor to Secretary of State for Tourism Cecilia Meireles, Rita Abecasis, told media that “this 250 million will come from online gambling”, yet the government has not yet made public if the number consists of gambling taxes in addition to initial licensing fees for gambling operators.

Later Meireles herslef has indicated that the government is considering the introduction of a regulatory regime, along with the concomitant collection of taxes, plausible before the end of 2012.