The Council of Ministers has approved the new bill of online gambling in the Iberian country, which would open up the gates for foreign operators.
Portuguese gambling laws are about to be reformed in the near future. The Council of Ministers has already approved to the bill to establish a legal framework for online gambling in Portugal. It will be added to the law as soon as Aníbal António Cavaco Silva, President of Portugal, signs the bill.
Turismo de Portugal, a branch of the Ministry of Finance, will be given the task to take special care of the new law, and make sure it protects underage users from any harm caused by gambling. Also, the new law shall help prevent fraud issues, money-laundering activities and match-fixing.
The new law would end the monopoly of Santa Casa de la Misericordia
Under the Legal Framework for Games and Online Gambling operators that are not based in the country will be able to provide services of internet gambling in Portugal. In order for foreign operators to enter the Portuguese market, they will first need to obtain a gambling licence.
Santa Casa de la Misericordia, company that holds a monopoly on the Portuguese gambling market, will suffer the most once the bill is passed.Once the President gives his seal of approval Santa Casa de la Misericordia will likely see an increase in the number of competitors in the Westernmost country of the EU.