Online Gambling In Latin America: Is It Regulated?

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Macys.com

News Americas, NEW YORK, NY, Mon. Oct. 11, 2021: For the past two decades, the online gambling industry has been consistently growing. It has gained popularity due to its convenience and competitive winnings. The advanced technology of the servers allows players to have an entertaining gambling experience with all the fun of land-based casinos from the comfort of home.

In Latin America, many gamblers who used to attend to casinos regularly, found in online casino platforms an interesting alternative. This brought attention to the online gambling industry, and now the region is perceived as the new most profitable opportunity for expanding their market.

For online gamblers who live in Latin America and enjoy playing Poker or online blackjack for real money, it is important to be aware of the laws and regulations of the activity.

Regulatory Measures

If you live in Latin America, bear in mind the restrictions and legislations of your country for online gambling platforms. Since the online gambling industry is quite new to the region, laws and legislations are changing constantly and vary significantly from country to country.

Colombia

Colombia is the leader of the region. The country started regulating online gambling activities in 2017 and now has seventeen legal active operators that Colombian players can choose from. The market is profitable and is growing exponentially.

Colombia is the perfect example that a legal, cost-effective and safe online gambling platform is possible for Latin American regulations.

Uruguay

Supermatch is the online site allowed to operate legally. However, the government is aware that many Uruguayans gamblers are forced to play in offshore sites to avoid taxes, but with a greater risk. A legislation would benefit both parts and generate employment opportunities.

Argentina

It is the most complex country in the region in terms of legislation; each province has its own set of rules regarding the matter. Most provinces are authorizing online gambling and currently there are seven international companies that are licensed for gambling operations: Argenbingo-William Hill, Hillside-Pasteko, Casino Tandil-Playtech, Cassava Enterprises-Boldt, Atl├íntica de Juegos-Stars Interactive, Vin Baires-Intralot y Casino Victoria-Betsson. 

Brazil

Even though there are changes to be made in the near future, currently, online gambling in Brazil is forbidden.

The National Ministry of Economy is the entity in charge of regulating these activities. Right now, the focus is put on decentralizing gambling activities nationwide, so that every State has its own set of laws and regulations.

Chile

At present, the only legal gambling activities in the country are the ones from a set of national casinos. Therefore, online gambling is still forbidden.

However, due to several legal loopholes, a lot of Chilean citizens have access to international gambling platforms. The government is aware that the need to regulate the activity is quite urgent, and news regarding this situation are expected any time now.

Mexico

Even though the online and remote gambling market is legal, there is a need to update its regulations. The advancement of online platforms and technology has been fast and the Mexican government are willing to catch up. New legislations that will ensure a safer and more profitable gambling experience are to be made.

Panama

In Panama, the government is eager to introduce new operators to the online gambling market. Currently, there are two legal active operators, but new platforms are engaged in negotiations and are surely to be active very soon.

Puerto Rico

Puerto Ricans are keen on sport betting, specially regarding American football. Since 2019, a Gaming Bill regulates all activities related to sport betting, gambling and electronic games. Therefore, international agencies are looking forward to expand their market even more in the country.

Online gambling is rapidly growing in the region and regulatory agencies are working hard to control this profitable activity; but there is still a long way to go.

Colombia is the most advanced country in the region in terms of legislation and possibilities for online gamblers, and it is rapidly setting a hopeful trend for the rest of the countries.

It is only a matter of time before every country in Latin America regulates the activity for the enjoyment and protection of gamblers.

If you take into consideration the laws and regulations of your country, you can enjoy gambling in the safest way and have winnings.