The company announced that its sportsbook was powered by software from Belgian iGaming supplier GAMING1.
Estoril Sol has been taking part in Portugal’s gambling
industry for more than five decades now. The company operates three land-based
casinos across the country: Casino Lisboa, Casino da Póvoa, and Casino Estoril.
Portugal regulated its online gambling last spring, when its new legislative framework came into effect. SRIJ was tasked with regulating and overseeing the industry. The regulatory body issued the first online gambling license in May 2016. BEM Operations, the local subsidiary of gambling operator Betclic, was the first one to receive the green light for entering the local market. The company initially offered sports betting and later on obtained a license for the operation of online casino games.
PokerStars entered Portugal’s igaming market late last year. The world’s largest online poker room is actually the sole provider of online poker services in the country.
The market enjoyed stable growth during the first three quarters of its existence, reaching its peak during the first quarter of 2017. Revenue during the first three months of the year totaled €31.4 million.
Under Portugal’s gambling laws, online sports betting and casino games are taxed separately. Sportsbook operators are taxed on turnover and at between 8% and 16%, with the rate increasing proportionally. Online casino operators are also taxed on turnover and the rate grows yet again proportionally all the way up to 30%.
Source: GMB / Casino News Daily
