The Future Of Caribbean Online Gambling

News Americas, NEW YORK, NY, Thurs. Feb. 3, 2022: The Caribbean is known for a variety of different things. Beautiful blue waters shimmer under the sun during the day all year round. Fine white sand that sinks into a hole with every step you take on the beach. Delicious fresh seafood that’s caught and cooked all in one day. These are just some of the many reasons that the Caribbean islands are some of the best tourist destinations in the world. However, there is one more reason that more tourists are flocking over to the Caribbean and that’s gambling.

Currently, the Caribbean island is home to not just some of the world’s most beautiful beaches. It also houses more than 22,000 slot machines, 1,280 gaming tables, and 159 casino establishments. The fact that these fine gambling establishments are painted against the backdrop of the beautiful Caribbean islands makes gambling in this region so much more appealing. Whether it be the super luxurious Atlantis Casino in the Caribbean or a quaint and historic casino in Puerto Rico, there’s bound to be a gambling establishment to suit any kind of gambler’s needs.

However, there is a recent shift in terms of how consumers are behaving within the gambling industry. More and more people are shifting towards online platforms as opposed to brick-and-mortar casino establishments. Just like many of the sites on Casinofy – top online casinos all over the world are scrambling to capture the online gambling market. Since the casinos in the Caribbean mostly capitalize on the allure of their beautiful locations, does that mean that they’re doomed in an industry that seems to be shifting more towards online platforms? Not necessarily.

A Short History

Online gambling in the Caribbean started way back in 1994 when the Free Trade and Processing Act was passed. This was the piece of legislation that basically allowed for licenses to be given to companies that wanted to establish online casino operations. Within that same year, a partnership between Micograming and CyptoLogic set up the first online casino operation in the Caribbean. This was essentially the birth of online gambling in the region.

Fast forward a few years later and online gambling has taken off like a fighter jet. Many international leaders, operators, and investors who work within the sector paid more interest to the Caribbean islands as a potential gambling hotspot, whether online or not. In particular, the countries of Antigua and Barbuda are two of the go-to destinations for big players who are looking to set up operations in the region.

The Legality of Online Gambling

The Free Trade and Processing Act paved the way for the growth and development of the online gambling and betting market in the region. However, it’s worth noting that not all countries are as liberal in their interpretation of gambling laws. That’s why online casinos in the region tend to function under a grey area within these regions. For example, in Barbados, land-based casinos aren’t allowed. However, there are no provisions in the legislation that prohibit online gambling in the area.

There are also some rather creative approaches to legislation in many of these places. For instance, in the Bahamas, locals aren’t allowed to engage in any kind of formal gambling within the land-based casinos that are scattered throughout the area. That’s despite the fact that these casinos also play host to thousands of tourists who visit the islands every year. While state legislation may consider gambling to fall within a morally grey area, they can’t deny the potential gains to be had from tourist and tax revenues that come from the gambling industry.

What Does the Future Hold?

Ever since the Free Trade and Processing Act was first passed in 1994, the online gambling industry in the Caribbean has been growing at a fairly steady pace. In fact, due to the early adoption of an emerging industry, the Caribbean region is considered to be one of the industry leaders when it comes to the online gambling sector. The region is so influential that it even managed to successfully win a case that was brought to the WTO against the United States. The complaint was regarding violations committed by the US in disallowing their citizens from accessing online gambling sites in Antigua and Barbuda.

With this kind of liberal outlook on gambling and aggressive expansion into the online gambling sphere, it looks like the Caribbean gambling sector will be a force to be reckoned with for the years to come.