BUSINESS

Portugal sets the table for Online Sports Betting

TAGs: Dr. Emanuel Macedo de Medeiros, EPFL, portugal

Better late than never, the Portuguese Government recovered from their World Cup depression and snapped to attention. With one look at the economy and the current regulatory gaming environment, or lack thereof, the Portuguese Government launched a consultation aiming at enacting a new legislative framework for online sports betting in the country.

A special commission is now carrying out an intensive consultation with key stakeholders including the Portuguese Football League and Association, the National Association of Casinos and the state monopoly Santa Casa da Misericórdia de Lisboa. The process toe punted into action last week as the commission met with key personele including EPFL CEO, Dr. Emanuel Macedo de Medeiros.

EPFL CEO, Dr. Emanuel Macedo de Medeiros addressed the European League’s concerns, which were the usual ones, most notably, the need to safeguard the integrity of football competitions and the overall credibility of sport. But he also expressed concerns over the increasing trend in illegal sports gambling throughout the country. Obviously the surest way to combat that trend is to put a strong regulatory framework in place that protects all interest of both the people and the government as well as the EPFL.

The obviousness of that proposition was certainly not lost on Dr. Emanuel Macedo de Medeiros. He was quoted as saying,

“In a time where Europe faces an unprecedented financial and economic crisis, can any Government afford the luxury of neglecting, not just those vital objectives, but also the substantial tax revenues that a properly regulated and transparent online sports betting sector would generate? I honestly don’t think tax payers would understand that.”

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