Portugal issues sportsbook licence to Casino Portugal
Local operator to compete with Betclic and Bet.pt to provide fixed odds sports betting
The Portuguese gambling authority has issued its seventh online gaming licence to local operator Figuerira Company Praia and its online brand Casino Portugal.
The casinoportugal.pt domain will compete against Bet.pt and Betclic Everest to provide fixed odds sports betting to local players.
This is the seventh online licence to be issued by the Comissão de Jogos (Gaming Commission), with the market considered to be something of a failure since its inception 18 months ago thanks to stifling taxes.
Sportsbooks are taxed at up to 16% of turnover depending on volume.
And while the overall online market grew 14% to €31m in Q1, sportsbook revenues dropped 3.3% sequentially to €17.4m.
Overall sign-ups climbed 27.2% to 112,000.
The RGA previously told EGR Intel that the number of licence holders compared unfavourably with other European markets.