Internet betting group Betclick has revealed that they have had 66% of their gaming revenues in Portugal to pay the company's taxes, resulting in thousands of people petitioning the government to change the current tax laws.
The numbers were revealed by the National Association of Online Gamblers, who also revealed that they've gotten 4,600 signatures on a petition to change the laws relating to the tax burdens that operators face. The current laws require casino operators with less than €5 million in revenue to pay 15%, while those bringing in more can be maxed out at 30%. Sportsbetting operators can max out at 16%.
Betclic has claimed that the laws have caused them to lose 66% of their gaming revenues to the taxman. They claim that the burden leaves them less money for operating costs and marketing, as well as taking in profits. if the large tax margin continues, the company has indicated that they may pull out of the market.
Casino Listings will update this story as details on the country's regulatory laws evolve.
The size of the fees is ridiculous if it's true and of course the bookmaker would at least conceder leaving the market, of course the state should be beneficial from the fees but not that much!
I agree with you, those taxes are really insane. Honestly one of the reasons I would never want to own a casino is because of the huge taxes you always owe to everyone.