MLB Partners Betcris, Launches Sportsbook In Latin America

Published: 20/07/2020

Reading Time: 3 Min

Image: Shutterstock

Betcris, a Costa Rica-based online sportsbook, signed deals with the Major League Baseball to offer the first legal sports betting partnership in Latin America. The partnership is timely to the upcoming reopening of seasons of MLB and and other major sports events.

Sportsbooks in the US starts to gain influence since its ban was lifted by the US Supreme Court in 2018. The legislation, which amended rules and regulations on online gaming, paved the way for the legal operations of sportsbooks and online casinos in many states. Currently, there are more than 18 states with controlled and regulated sportsbook industry while four states enjoyed the benefits of having legal online casinos.

The legalization of online gambling the state is not only providing millions in alternative tax revenue but it also protects citizens from fraud and gambling-related problems brought by illegal online gambling sites. Americans love online gaming, as proven by the massive increase in search volume for online gambling platforms during the pandemic.

Table of Contents

Rise of sportsbetting in the US

Since the lifting of the ban, companies started legalizing their own online sportsbook platforms. Casino operators raced to open their own sports betting platforms and launch their apps to compete in the fast growing online gambling industry.

Online gambling reached for wider markets compare to their land-based counter parts. Sportsbooks and online casinos allowed people to play place bets or play their favourite casino games in the comfort of their own homes.

People without the chance to go to bricks and mortar casinos are now given the chance to enjoy a casino like experience. They can now place their bets in online betting apps without the need of travelling far places.

Sportsbooks provided the chance for gamblers to place bets on an actual casino and on their mobile phones. Many casino in the US launched their sportsbooks during reopening from prolonged shutdown. Companies are now expanding their operations to online gambling such as online casinos and sportsbooks.

MLB and Betcris conquers the Latin American market

The Costa Rica-based company will soon provide chance to gamblers in Latin America to place bets on their favourite Major League Baseball teams. The online sportsbook will gain access to the official data feed of MLB and was given the rights to market marks and logos owned by MLB.

CEO JD Duarte said they were not given the chance to get a license to operate in the US because of the federal law that restricts online gambling operations. The previous gambling law restricts operations of online gambling platforms because of unclear guidelines for monetary transactions.

US authorities were critical with Betcris’ operations. The US gambling regulating bodies investigated the company in the past. U.S. Attorney’s Office in the Northern District of New York’s prosecutors alleged in 2013 that the company is part of a network of illegal offshore sportsbooks in Florida. Three people were convicted of money laundering while the other one with gambling charges.

The CEO denied all accusations against the company and said they had a compliance team, along with risk and fraud team, working to gain access to the US market but they were given no shot.