Ok since I did not find any info about the poker games that run in Funchal casino @ Madeira, I decided to go there and see for myself.
I arrived there at around 21.30-22.00 and found the casino to be rather empty, some people playing slots and some people playing roulette/blackjack. Since the guide of our guided tour the day before said that people tend to go out late I decided to play some blackjack and wait to see if there were any poker players that turned up (the floor manager told me there was usually a poker game running from 22.30 - 03.30, but he might just tell me that to get me hooked on the other table games)...
Luckily I did not have to wait too long before players arrived for the local poker game, around 22.30 some players went to a poker table and sat down and ofcourse invited the fishy tourist to come sit down and play with them, which I willingly did... By that time I made about 125 euro at the blackjack tables which was a nice start of the evening.
I thought the games would be soft and have a low buy-in since the only thing I found on the internet about poker at the Funchal casino were monthly 50 euro tournaments they called the Madeira poker league. To my surprise the table started off with 5 locals buying in from 200 euro (2 players) - 500 euro (3 players) and myself, the stakes were 2.5 / 5 euro, noone was straddling (I don't know if it was allowed or not) and there was not alot of three-betting either.
By the end of the evening there were 7 locals and myself playing the game with an average stack of about 400 euros. 5 players playing ABC poker, 1 good player and 1 complete fish who came to the table three times to blow 200 euro.
I ended the night up 500 euros after about 2h30m/3h of poker... it was my last night there so I did not go back, and to keep the misses happy I split the profits with her.
Hope this helps anyone thinking of playing poker in Madeira.