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Portugal issues second online sportsbook licence

Portugal’s online gaming regulator has awarded its second online sports betting licence to Bet Entertainment Technologies, operator of Bet.pt.

The Bet.pt site went live on Tuesday July 5th, with Bet Entertainment pledging to offer thousands of betting markets each day.

It includes a number of popular features including cash-out options and a special no-risk offer for new bettors, offering to refund losing bets of up to €25.

The offering is powered by SBTech’s sports betting platform, which Bet Entertainment describes as being “at the forefront of the online gambling industry since 2007.”

“[SBTech provides] solutions to various brands and online gaming companies, which generate a volume of annual betting more than one billion euros,” the operator added.

Despite Portugal opening its doors to foreign operators, bet.pt becomes just the second private operator to secure a sports betting licence since May, when regulator Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ) approved Betclic Everest Group to re-enter the market.

The slow roll-out of sports betting brands in the market is attributed to the country’s high iGaming tax rate. Operators are taxed at a rate of between 8 and 16 per cent of turnover for sports betting, with casino rates set at between 15 and 30 per cent of turnover.

GamingIntelligence

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