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Portuguese Monopoly Plays Down Competition Concerns Over Online Betting Subsidiary

Portugal’s land-based sports betting monopoly has launched its long-anticipated online betting platform as it moves to reassure the market it will take steps to avoid unfair competition.

In January 2017, Portugal’s lottery and retail sports-betting monopoly Santa Casa da Misericórdia de Lisboa (Santa Casa) combined with four other charities to form the online betting company Sociedade de Apostas Sociais (SAS), in which it holds a 54 percent stake.

At the time of its formation SAS’s express intent was to join the online betting market, but the operator was not granted a licence until Friday last week.

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