The very first online sports betting license has been awarded in Portugal, and Betclic Everest Group has the honor of being the first one to enter the market. Betclic, which is based in France, is already licensed in both France and Malta, but this new regulation will allow them to start offering online sports betting in Portugal.
Portugal's new national regulatory jurisdiction, the delightfully named Regulação e Inspeção de Jogos do Turismo de Portugal, is said to be evaluating granting licenses to as many as 11 other sports betting companies, indicating that companies feel that there is sufficient demand for sports betting in the country. This is especially intriguing considering that the new jurisdiction will charge some of the highest tax rates among European regulatory authorities.
Betclic Everest Group was founded in 2007 and currently serves primarily European markets across its five different brands: Betclic, bet-at-home.com, Monte Carlo Casino, Expekt, and Everest. While primarily known for sports and horse racing betting, the company also offers poker and online casino products.
This is Betclic Everest's second major victory in a week, as after a four-year absence they announced that they would finally be re-entering the Belgian market. Years of feuding between Betclic Everest and Belgian licensing authorities, which at one point included large fines and a complete blacklist of the company's products in Belgium, have prevented the company from operating in the country. However, the two sides have seemingly come to an amicable agreement, and Betclic will soon be able to operate in Belgium under the domain name Betclic.be.