Jamaica Lawmakers Propose Legalization of Online Casinos
Online casino software solutions could soon be legally available in Jamaica. Ministry of Finance and Planning representative Horace Dalley has recently admitted that online gambling is already happening in the country, and with all the equipment that they already have, internet gaming should be allowed in no time.
Despite the fact that online casino software solutions are not yet available in the country, the land-based casino industry proves to be extremely profitable. Representatives for the Ministry of Finance and Planning declared that the gambling market has generated $2.9 billion for the state coffers during the years 2011-2012. More than that, government taxes for the industry increased from $3.8 billion for 2012-2013 to $4.5 billion for the fiscal year 2013-2014.
Thus, Jamaica regulators have already started to work on amendments to the current gambling law, in an effort to create more jobs and financially stimulate the economy. The Jamaican government has declared that telephone sports betting will be allowed by the beginning of the football World Cup.
Dalley explained that the legalization of online casino software solutions would bring more order to the gambling industry in Jamaica. More than that, the Betting, Gaming and Lotteries Act will be amended in order to help expand the gaming market which is currently running in Jamaica. Dalley also said that, according to several studies, no less than $100 billion would be gambled in the multimillion-dollar online gaming and betting market by the year 2017.
Another measure that the government will take in order to allow online casino software solutions is to take action against illegal online operators who are currently dominating the Jamaican internet gaming market. At this point in time, illegal online gaming is generating a whopping $250 million per year. Lawmakers are currently preparing to remove unlicensed operators from the Jamaican online gambling industry.
BY CASINOWEBSCRIPTS PUBLISHED 3 June 2014