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Portugal might regulate online poker

Portugal might regulate online poker

Portugal might very well start regulating online poker as soon as by 2014. The announcement was made right after a visit from the International Monetary Fund (IMF), representatives from the European Union and from the European Central Bank to the country. Portugal is in need of more bailout money, specifically €78 billion in bailout cash if the country intends to even try and get out of the financial mess its in at the moment.

The plan to legalize and regulate online poker, and possibly also online gambling, might be a last resource by the government intented to bring in as much extra cash to the arcs as possible.

Currently, Portugal has sort of a gambling and lotteries monopoly in place run by Santa Casa de Misericordia de Lisboa (SCML), but lawmakers want to break this monopoly and start offering licenses to provate firms so the government can tax them.

According to a research paper from 2011, the country could collect as much as €250 million in concessions just in the first year of running an open market. Portugal has created a commission in order to analyse and discuss the advantages and problems relating to running a regulated poker and gambling market so that a proper decision can be taken. There are currently no estimated dates for a launch of a regulated market.