Chilean Gambling Legislation Up For Review As Government Looks To New Revenue Sources

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The Chilean Ministry of Finance recently announced that it will start boosting its efforts to legalize online gambling in Chile.

News Americas, NEW YORK, NY, Thurs. Mar. 18, 2021: If you have been watching the gambling industry, you will know that a veritable tidal wave of laws legalizing gambling has been passed around the world.

At the national, state and provincial level, laws are being passed that liberalize gambling regulations and make it easier for casinos – both online and brick-and-mortar – to open and flourish.

The Chilean government is one of the many legislative bodies looking to make a change – keep reading to find out why.

The Chilean Government And Gambling Legislation

The Chilean Ministry of Finance recently announced that it will start boosting its efforts to legalize online gambling in Chile. The Ministry of Finance is hoping to introduce a bill on online casino regulation in the first quarter of the year. The bill is intended to legalize online gambling, sports betting and other forms of online gambling. Aside from legalizing online gambling, the bill will also provide players with increased protection and help to develop a competitive, flourishing online gambling industry.

The main impetus for the Ministry of Finance to legalize online gambling is that they are hoping to collect tax revenue from the money spent on gambling. The tax revenue will then be used to bolster the public health system and support much-needed infrastructure projects. The bill would also help the Chilean government to better monitor online casinos operating in the country and provide support to gamblers.

Along with the bill on online casinos, the Chilean Ministry of Finance is also introducing a second bill to update the country’s regulations on casinos with a physical presence. This bill will update the outdated technical standards in place and promote responsible gambling in the industry. If this secondary bill is passed, brick-and-mortar casinos will need to reapply for permits and pay a tax, which will also be used to bolster the country’s finances and increase tourism in Chile.

The Online Casino Industry

Over the course of the last 10 years, the online casino industry has exploded in popularity. Online casinos were once a niche subsector of the gambling industry but now there are thousands of different online casino platforms that are competing to increase their share of gamblers. Online casinos vie for the attention of gamblers by offering competitive bonuses, attractive seasonal promotions and extensive games libraries.

The rise of mobile technology has resulted in online casinos adopting the use of mobile platforms and expanding their reach even more. Every year, more and more people have access to smartphones and mobile technology across the developed and developing world. Market analysts have predicted that the online casino industry will continue to grow and expand for the foreseeable future, and it is easy to see why.

The industry has grown not only because of global events that necessitated the temporary closure of many brick-and-mortar casinos, but also because the platform technology has matured a great deal and the majority of online casinos are now extremely secure, convenient and easy to use.

General Trends Towards Gambling-Friendly Legislation

Chile is not alone in its liberalization of gambling legislation. Many countries around the world, and states in the United States, such as Virginia, have all started to take another look at their gambling regulations and reconsider their laws. Chile’s move is part of a broader societal shift towards a greater acceptance of gambling as a fun and exciting pastime.

Federal and municipal governments around the world are also finding that gambling can provide a much-needed source of revenue. When gambling and betting is legal, the government is able to tax money that is spent on gambling, and oftentimes to tax the online casino or gambling companies themselves. This provides a source of tax revenue for the government, which in turn can be used to fund infrastructure projects or provide social support.

Online gambling is an especially attractive option for legislators who are interested in legalizing gambling. This is because online casinos are all, obviously, digital; legislators do not need to worry about planning permits and zoning regulations, or even concern themselves with thoughts of containing rowdy tourists who are visiting a certain district for the casino halls. Instead, everything is managed online and no additional work is needed on the part of the legislators.

As you have probably gathered, legalizing gambling and liberalizing betting laws has a series of accompanying benefits. It should hardly come as a surprise that more and more countries, states and provinces are reconsidering their legislation on gambling and are trying to legalize the industry.