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Portugal Okays Online Gambling, Has 6 Months to Implement Regulations

Portugal's national parliament has voted to regulate online gambling by allowing more operators in the market.

As a result of the bill's passage, Portugal will found an online gambling regulator, which will have 180 days to set up licensing regulations and tax processes.

Up until today, the country's national lottery the Santa Casa da Misericordia was the only spot that punters could gamble at. That all changed today though, as operators will likely flock to the market.

All is not rosy in terms of the fledging online betting market in Portugal though, as operators could operators facing a heavy 16% tax on GGR, with licensees potentially seeing a 30% tax rate.

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