Today's online casino news is especially relevant for Portuguese gambling enthusiasts. Estoril, a new contender in the Portuguese gambling market, has received an official operating license in Portugal.
Estoril Sol Digital Online Gaming and Products Services is actually the first company to receive a license that would permit it to offer online casino roulette and similar services. However, it would not be the company’s first casino presence, due to the fact that it already owns three brick-and-mortar casinos: Casino Estoril, Casino Lisbon, and Casino da Povoa.
Last year, the company amassed a profit of €182 million, which is roughly $200 million. They are responsible for generating over 66% of the country's profits in the gambling industry. Currently, the country has three different websites related to gambling, but two of them are dedicated to sports betting and not traditional gambling such as jackpot winning and similar games.
To entice new users, Estoril is offering a free sign-up bonus. The current selection of games that you can play includes roulette, blackjack, and various different slots. However, things are still in the open regarding online poker, and the situation will remain unresolved until the company can acquire an appropriate license. This is unlikely to happen until November.
For a long time, the Portuguese gambling market was not exactly the most liberal, and it was tied down with tough legislation. However, since Portugal entered the EU, several opportunities started to open up, and the market became more liberal in general.
The country is estimating to gather more than €20 million per year through gambling taxes. Sites that offer online gambling services have to pay 8% tax, and online casinos are taxed at 15% of gross income. The government is aiming to spend that money on cultural needs and social programs.