- After indicating potential interest a week ago, Jamaica is set to legalize online gambling
- No timeframe set for regulation yet, but Jamaica looking at online casinos and sports betting
While some nations engage in lengthy consultations over the legalisation of gambling, others get straight to the point. Three months ago, there was nothing to suggest that Jamaica would be the next nation to legalise online casinos. This week, it’s all but a done deal, with the country’s Betting, Gaming & Lotteries Commission (BGLC) in the process of drafting the necessary regulations.
These regulations will incorporate online casino gambling, opening the door for Jamaica to become a major gambling destination for both online and land-based gambling.
Still work to be done
Although there is no doubt that online gambling will soon be legalised in Jamaica, there’s still much work to be done before the service can be rolled out. For one thing, there are currently no operators in place to offer web-based gambling services to Jamaican citizens.
The BGLC is remaining tight-lipped about potential operators that have expressed an interest in obtaining a gaming license, although one company that is believed to be keen is Supreme Ventures Limited. Having just introduced its proprietary Enterprise Series system, a platform that would enable SVL to deliver interactive gaming, the firm appears poised to become one of Jamaica’s first online gambling operators at the earliest available opportunity.
In seeking to legalise online gambling, the Jamaican government has two specific goals in mind: to crackdown on illegal gambling and the hazards that are inherent with it, and to bring in a tax windfall through legalised gambling.
Significant gambling revenue
The value of the online gambling market is valued at $40 billion a year, and while Jamaica would claim only a slender slice of that at best, the revenue that gambling could bring in would still be significant. Although details are scant regarding the intentions of the BGLC in regards to online gambling, it’s believed that a complete range of services will be introduced.
As a consequence, punters would be able to engage in sports betting as well as playing slots, blackjack, poker and other casino games. Specifics regarding the timeframe for legalising gambling are also hard to come by, but indications are that the regulatory framework could be in place before the end of the year, paving the way for operators to apply for a Jamaican gaming license.
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