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Costa Rica: New gaming regulator for online gambling haven
Long on operators and short on real regulation is the widely held player perception of the Costa Rica licensing jurisdiction in online gambling. Whilst the Central American country is home to many large gambling operators, it's support for player disputes with online gambling venues is not generally well regarded.
That may be all about to change, according to reports in the local media which inform that government plans to introduce legislation which will see all licensees in the country - both land and online - brought under the real authority of a national regulator. The reports cite the worsening economic situation as the spur for the new interest in a proper regulatory regime.
The finance minister, Guillermo Zuniga, has proposed hiking the tax on gambling operator gross revenues by 2 percent to help weather the economic storm, and he has apparently confirmed that there will be more meaningful controls on operators flowing from the new legislation.
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The Finance Ministry expects to realise an additional $85 million a year from the tax hike.
Zuniga told reporters that the new gambling arrangements would see a regulatory body with responsbilities to several ministries issuing licenses and policing the operation of licensees. It would be given authority over both land and online gambling operations, he advised. The minister added that the decision to form a regulatory body brought Costa Rica in line with the international trend to regulate and license gambling.
Online gambling activity has never been formally regulated under Costa Rica’s gambling laws, with Internet operators instead taking out business-oriented licenses on the understanding that they will not allow locals to wager. Previous attempts to control online gambling by the government have not been particularly successful.
In 2003 a law was passed requiring online gambling operators to register with the Ministry of Finance and generally inconclusive debate has taken place among lawmakers in the National Assembly from time to time.
Media reports to date do not offer clarity on how a new regulator might apply taxation, licensing and compliance procedures
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2017 Aussie Millions Event 1 -
The Melbourne-based player bested a field of 1,565 entries - 245 up on last year's equivalent - to end up in the heads up with New Zealnad's Qiang Fu, but not before both he and Qiang had narrowly escaped at the four-handed stage when they were the low stacks.
Swiss Reject idea to Block Gambling Websites -
The Legal Affairs Committee of the Swiss National Council has nixed new regulations which would have blocked access to online gambling sites in Switzerland, according to local media reports Tuesday.
Growth Ahead For Online Gambling -
Transparency Market Research has issued a teaser on its latest international online gambling and betting survey, forecasting that the industry will grow at a Compound Annual Growth Rate (CAGR) of 10.8 percent by 2024.
New Qubit software For SkyBetting -
#qubit Sky Betting & Gaming aims to top its record 50 percent revenue growth last year with new player differentiation software and expertise provided by the Qubit company.
Slotfather II Slot Launching -
#betsoft The first is a sequel to the popular gangster-themed online slot Slotfather, unsurprisingly titled Slotfather II, whilst the other is a new 243 ways-to-win game titled Fa Fa Twins..
Massachusetts Online Lottery Bill -
Flanagan's confidence was clearly boosted by the bill's success in the Senate last year, although it was not developed by the House and ran out of time.
Italy Doing Well With Online Sports betting -
The latest numbers from the Italian regulator show that online sports betting remains king when it comes to internet gambling in the market, generating Euro 391.8 million in turnover in December 2016.
Michigan To Reintroduce Online Gambling Bill -
#Michigan state Sen. Mike Kowell's staff have confirmed that the senator plans to reintroduce his online gambling legalization bill, which failed to make it through the last legislative season.
MGM Buys DC office building For lobbying team -
#MGM Resorts International has bought a new Washington, D.C., office building for its in-house lobbying team, led by former chief counsel to the now retired Nevada Sen. Harry Reid, Ayesha Khanna.
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