1. Portugal Gambling Authority Meaning
2. Portugal Gambling Authority Jobs
3. Portugal Gambling Authority Definition

Portugal is the second largest country on the Iberian Peninsula, which also includes Spain, Andorra, a small portion of France, and Gibraltar. Gambling is part of the country’s DNA, which explains the fact that all forms are legal on the western region of the Iberian Peninsula. Santa Casa da Misericordia de Lisboa (SCML) is the authority that regulates gambling in Portugal. There are multiple land-based gambling parlors in the southern European country, in addition to one casino on the Portuguese island of Madeira.
Online casinos that want to offer their services in Portugal have to obtain a license from Santa Casa da Misericordia de Lisboa (SCML). Players can also choose to enjoy their favorite pastime on foreign-based gaming sites as the Portuguese gambling authority doesn’t seem to make any efforts to stop those offshore activities.

Best Portuguese online casinos

Gambling enthusiasts in Portugal will not find it hard to find an online casino due to the huge selection. Additionally, lots of platforms offer multiple languages, including Portuguese. The country’s currency is the euro, which comes in handy as many online casinos accept bets in the Eurozone currency. Excited to try your luck at an online gaming site yet? You may want to check out these reputable online casinos:

This week, the U.K.' S Competition and Markets Authority is looking at several online gambling companies regarding unfair practices involving player accounts. Todd also has news from Australia and Portugal, as well as more fallout over potential changes to fixed odds betting terminals. Read more Pragmatic Play enters Spanish and Portuguese. Portugal finally got around to issuing its first gambling license to Betclic.pt in early 2016. More licenses eventually followed, but Betclic was the first site authorized by the government to accept real money wagers from Portuguese citizens.

Popularity online casinos in Portugal explained

The Portuguese economy was hit hard by the financial crisis, forcing them to seek aid from the European Union (EU), and International Monetary Fund (IMF). Luckily, the situation is improving, and the Banco de Portugal expects a 1.6 percent growth this year, followed by a 1.7 percent expansion in 2016. The weak domestic demand remains a big concern, but borrowing costs have remained stable after the turmoil caused by the elections in October.
With more than 7 million internet users, Portugal has a penetration rate of approximately 68 percent. An increasing number of people access the web via a mobile device, which is also the case in Portugal. Indeed, in the third quarter of 2015, mobile internet traffic rose by 35.7 per cent.

Gambling and online casinos in Portugal

Saying that Portugal is a hotspot for gambling of all kinds, would be stating the obvious. The online equivalent is hugely popular as a result of the benefits in comparison to land-based gambling. These are some of the reasons why online casinos are such a big hit among gambling fans from all over the world:

• Convenience, 24/7 available, no need to leave the house
• Free-play mode
• Rewarding bonuses, including welcome bonuses and deposit bonuses
• Exciting promotions
• Huge selection of casino games, such as online slot machines, table games, and soft games

How to deposit money in an online casino when I’m from Portugal?

Online casinos also feature plenty of trustworthy deposit methods, which is another big plus. Those payment systems allow user-friendly and safe deposits before playing for real money. Of course, the free-play option is a fun feature, but nothing beats the sensation of winning some cash. These are the two most commonly used payment options at online gaming sites:

• Credit cards are definitely the most popular method online, including in online casinos. Visa, MasterCard, and Maestro, are the market leaders.
• Electronic wallets, like Neteller, and Skrill, are gaining popularity among online gambling enthusiasts.

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Portugal Gambling Authority Meaning

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It isn’t unusual for a country that allows gambling on its territory to be a significant tourist destination. For Portugal in particular, this comes as a considerable source of income. In fact, last year’s GDP of Portugal was around $210 billion, and the revenue from online gambling was $122 million – which makes up for 0.05%. This is just a small part of what is about to come in the upcoming years.

The Laws Behind the Gambling Industry – Which Games are Regulated

Portugal Gambling Authority Jobs

Online gambling is a fresh phenomenon in Portugal, and it is due to the fact that the government had recently changed it’s gambling laws, which now include online betting. This means that online casinos and sportsbooks are completely legal, licensed, and regulated by the nation’s Regulatory and Inspection Services of Games and Tourism of Portugal or RISGTP administration for short.

While it is somewhat strange that a governing body that answers for tourism in the country would also be responsible for regulating any type of gambling activity, it’s not very surprising. In the regulatory code, it states that “the practice of games of chance may be held only in casinos located in specific law-determined gaming zones”. So far, 10 areas have been approved, every single one of which sees its fair share of tourists.

The Taxes are Merciless

Something that makes a big impression in the online casino and sportsbook sectors is the amount of tax those businesses pay in Portugal. The online gambling tax is 44%, and yes, it is considered to be quite high. Because of that, many economists projected that the online business in the country would decline, but what happened was quite the opposite. Today, there are many new companies lining up to apply for an online gaming license.

Online Gambling Laws are Recent in the Country

In order to be able to start issuing licenses, a government needs to cover a particular set of requirements. Portugal fulfilled its own in 2015. After the legislation was passed, it required testing labs and online operators to obtain licenses in 4 different fields – horse race betting, fixed odds sports betting, bingo, and games of chance, such as poker, roulette, slots, and other casino games. Today, there are many land-based and online gambling venues that provide people with the actions they’re looking for.

Tourism is a Unity of Sports Gambling and Cultural Events

Last year, it was reported that the revenue from tourism in Portugal was around $23 billion – which makes up for almost 11% of the national GDP. This includes entertainment events such as sports games, concerts, and even cultural events. A lot of tourist regions include fascinating beaches and coastlines, castles, shrines, city squares and parks. In truth, Portugal holds around 14 awards as a more preferred tourist destination in more than 10 categories.

Improvement of Social Welfare Programs

It is an all-known-fact that the state of public administrations and social welfare programs in Portugal were in a very poor state even since the beginning of the 90’s. The country is also renowned for having an outstandingly slow and inefficient administrative structure, which results in slow, over-blown bureaucratic proceedings. As the European Union announced its decision to help Portugal out of the financial crisis, measures were taken to improve the government’s overall public system.

Some Challenges Remain to Be Tackled

Portugal Gambling Authority Definition

As Portugal is making its slow recovery from a dynamic decade of financial woes, there are many other issues that await to be resolved. While this is happening, the country continues its steady rise by providing superior tourist destinations and services to its visitors and re-developing its national industries. Despite the difficulties, you can expect many great things to happen for Portugal in the future!