Friday, July 20, 2018

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Mexico Set to Regulate Online Gambling Sector

Advances were made in 2004 when a law from 1947 was altered – a move that allowed people to gamble in places outside of the facilities of the Secretariat of the Interior and led to an influx of investment from both domestics and international investors. Soon, new casinos were all licensed and properly contributing to the tax system. Although the government still closely controls these new establishments, the casinos and slots halls are often operated by private companies, with some of them rivaling those in Las Vegas. One of the final pieces of the puzzle needed to bring the gambling sector in Mexico up to the speed with developed countries is their online gambling sector. Currently, online gambling in the country is not regulated. People can use online casinos but, because there’s no regulation, it can be a risky business betting money with no guarantee that you’ll ever see your winnings. There have been many calls to change the situation, and now it looks as if change may be on its way in the not too distant future. Currently, the county’s 1947 Federal Gaming Law Bill is under review with the aim of drafting regulations that would bring the online gambling sector in line with the nations other gambling organizations. If this happens, it will be a big deal for investors and participants alike.

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