Poll results: Portuguese market a disappointment
Overwhelming majority of respondents indicate a change in tax may be needed if market is to succeed
Portugal’s regulated market has so far been a failure, the vast majority of respondents to this week’s EGR Intel poll have said.
More than four fifths (81%) of readers gave the bleak verdict exactly one year on from Betclic Everest receiving the first operating licence in the country.
Yet very few other operators have joined Betclic in the market – only Bet.pt is up against Betclic in sportsbook while PokerStars and Estoril Sol hold gaming licences.
One of the major barriers to entry is thought to be the country’s sports betting tax.
While gaming is taxed on a GGR basis, controversially Portugal opted for a turnover-based sports betting levy, a decision criticised by many, including the RGA.
Depending on volume, the levy spread is between 8% and 16% of turnover. Betclic recently told EGR Intel its rate was averaging out at around 14%, making it more punitive than the 12% on offer in Poland.
However, 19% of respondents believe the market, which has a population of around 10 million, has been a success.
In the first 10 months, Portugal’s regulated market generated revenue of €82.8m, while SBTech told EGR Intel the market had been performing “well above expectations”.
The market will also be bolstered by the arrival of the state-run Santa Casa in the coming months, although whether any more foreign operators decide to enter the fray remains to be seen.