Bolivia Regulates Online Gambling To Boost Employment

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Bolivia’s Gambling Control Authority executive director, Antonio Abrego, proposed new guidelines for the regulation and control of the state’s gambling sector. The new guidelines included a provision that could regulate and control online gambling.

Online gambling is gaining popularity in the US, Europe, Asia and other parts of the world. The government imposed lockdowns contributed mainly to the rising influence of online gambling worldwide. During the lockdowns, people were trapped in their homes with nothing to do except be entertained by mobile phones and other gadgets.

When casinos and sports betting institutions shut down because of the novel coronavirus pandemic, gamblers shifted their attention to online gambling. The industry reported massive traffic volume of searches and subscriptions during the whole lockdown period. In many states where online gaming is legal, tax revenue surged, providing them additional funds for their fight against the deadly virus.

Online gaming’s rising fame worldwide

The rise of online gambling worldwide is inevitable. Europe is the biggest market for gambling, and many nations across the continent see the potential of online gaming as a contributor to growth and recovery after the pandemic. European nations are now moving to regulate the industry.

Countries including, Alderney, Denmark, New Zealand, The USA, and Spain have legislations that regulate online gambling. The US has more than 18 states that allowed online gambling operators. There are around 33 online gambling platforms in the US after restrictions were lifted in 1996.

The pandemic produced a different type of gamblers. Anyone at legal age can now play their favourite casino games anywhere they want and anytime they want to play. Online gaming gave a chance for people who have no access to actual casinos and sports betting to play.

Bolivia moves to allow online gaming operations

Online gambling operators are now eyeing Bolivia for a possible license. The news of the new guidelines raised hope for online gambling operators to join the legal online gambling market of Bolivia.

Call for regulation and control of online gambling in the country started in 2012. The gambling regulator started research in 2017 on the online gambling practices of other Latin American nations like Columbia and Costa Rica. However, the government did not allow online gambling to move forward at that time.

Legal gambling operations in the country included the national lottery, a private casino, and some sportsbooks. Strict restrictions and the imposed 30 per cent tax on the industry has limited gambling operations in the Latin American nation.

Mr Abrego assured that the regulating body would tackle the issue on taxes and he said taxes in the game of chance would be amended to attract more investors. The regulating body said they would create a fair gaming environment for everyone.

The gambling regulators hoped that the new amendments in the country’s gambling laws could pave the way for the licensing of online casino operations that could provide an alternative source of revenue for the country. They also expect the companies to provide additional jobs to the community, employing those who lost their jobs because of the deadly pandemic.

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