Online Gambling on the Cards for Dominican RepublicPublished March 19, 2015 by Amir G
Lawmakers in the Dominican Republic are in discussions over an online gambling regulation bill.
Is online gambling regulation approaching the shores of the Dominican Republic? Steps by lawmakers in the country indicate that might be the case in the future.
Regulation Bill in the Works
Members of the Dominican Republic's Standing Committee on Finance are in discussion over the creation of a new bill set to create a regulatory authority for gambling in the country. The attention of the discussion focuses on the legalization of all forms of gambling, including online gambling and online poker.
The draft covers all important aspects of regulation including responsible gambling, fraud presentation and the implementation of strict security measures. Not only lawmakers are taking part in the discussion, but also members of the Dominican Republic national lottery and other representatives which were invited to the dialogue.
A History of Gambling
Casinos and gambling are not new to the Dominican Republic, as it is actually the Caribbean country containing the largest number of land based casinos with 34 in operation. The many casinos spread throughout the country are a major attraction for tourists, with millions of people visiting the country on a yearly basis.
These casinos operate under licenses that are issued by the country's Ministry of Finance, and the part of the ministry in any future online gambling regulation plan is still unknown.
Good for Revenues
Will future regulation of online gambling expand this influx of tourists to virtual ones as well? The suggested bill will include ways with which the country will see revenues from taxes etc, as is common in other countries with online gambling regulation.
Experience shows that countries can benefit greatly in profits, with good and healthy online gambling laws that place strong watchdogs to prevent from fraud, rogue operators and problem gambling. Time will tell if that will be the case with the Dominican Republic.