Costa Rica Leads Latin America in Gambling Regulation

When it comes to Costa Rican gambling laws, these are quite liberal, especially when compared to the other countries in the region such as Brazil. Other Latin American nations allow for limited gambling or have imprecise regulations.

One of the countries, Mexico, could dramatically increase its gambling revenues if it came up with better set of gambling laws. Overall, Latin American market consists of nearly 500 million people and is growing economically.

Many experts even claim that the tax revenues from legalized gambling within those countries could greatly assist in paying off the national debts. Now, however, much of the betting is illegal and the funds don’t flow into states’ coffers.

Costa Rica, on the other hand, is a tiny nation, but one which attracts many foreign visitors and retirees. Its beautiful landscape and two coastlines make it a great destination. Moreover, the country is a beacon of stability among less fortunate Central American states.

The regulatory and business environment for online casinos in Costa Rica is as warm as its climate. There are some regulatory proposals being made to further regulate the casinos, but these aren’t meant to do harm to the industry which benefits the country greatly.

In Costa Rica alone, there are around 500 online casinos licensed which bring revenues of $15 billion annually, quite a large sum for a nation of 4.7 million. Most of these online casinos provide offshore access to gamblers worldwide. Sports betting is also quite popular and online sportsbooks in Costa Rica attract many punters.

What a difference it makes to the neighboring countries! In Brazil, it is estimated that there is an $80 billion annual illegal gambling market which, once regulated and legalized, could be brought into open and power up Brazilian government revenues. Argentina, while smaller, also presents great opportunities for casino investments, but the gambling regulations need to become more stable.