Portugal will not be offering an online gaming legislation in 2014 as hoped.
Country officials stated in October they would push for the liberalization of internet gambling in the country, however due to economic strains, online gambling will not be included in the 2014 budget proposal.
Portugal suffers from 15.7% unemployment rate, and has received bailouts in the amount of €78 billion from the European Union, the International Monetary Fund (IMF), and the European Central Bank. The notion of legalized and regulated gaming was meant to stimulate the local economy, but with the flow of funds ending in 2014, budgetary confinements have squeezed the idea of internet gambling out of the plans for next year. Portugal officials have now mentioned they will treat the idea of online gambling as a standalone bill rather than as an add-on in their budgetary plans, however no timeframe was provided as to when this might happen.
A report by Economic Ministry of Portugal done in 2011 stated the country could profit €250 million in the first year of operations from licensed operators. A tax rate has yet to be confirmed, proposals of taxes ranging from 15%-25% of gross income were passed on by government officials.
With Germany also postponing their online offering, and more US states setting up to offer regulated gaming, it would seem the US and Europe are trading places in the online gaming industry.
