Ponte de Lima claims horse betting…

It's not Ascot, but horse racing and betting is allowed at the Calvelo complex in Ponte de Lima where the infrastructures comprising a hippodrome cost 12 years ago approximately a half million euros…

It is the only racing track in Portugal where horse betting is accepted as legal and falls under very outdated legislation dating back precisely to a half a century ago.

A total stumbling block for the investors of this track as their investment could be worth millions in profits and job opportunities.

In 2005, the government was expected to pass legislation legalising horse racing and betting in Portugal. The new legislation would have been based upon methods employed in other European Union member-states, and once approved, would leave Luxembourg as the only country where horse racing does not take place….

Although the Portuguese treasury calculated that it could be losing 250 million euros a year in taxes because residents are betting online on racing and other sporting events in Spain and European countries Dr. Jorge Sampaio, the State President at the time, vetoed the legislation which was subsequently shelved.