The world of sports betting is spreading with increasing force throughout the countries of Latin America, although not all of its avenues are legal. The world of sports and betting have always been linked. Many of us like to add an extra emotion of winning to when our favorite team wins (or loses). It is not surprising that the sport which receives the most bets in Latin American countries is football. However, what is not so evident is the legality and normativity of these bets through online betting platforms.
The online gambling industry is constantly growing globally, regardless of the countries where online gambling is legal or not. It grows day by day, although the regulations of this industry change completely from one country to another. In some places like the United Kingdom and Spain, online sports betting is accepted and regulated nationally. Although there are countries like the United States where sports betting is illegal by default, for example, playing online poker legally in New Jersey is perfectly fine. This goes to show that the regulation of the gambling industry is handled at regional levels and some states allow it under certain terms. This article presents the legal aspects and regulatory positions of the main Latin American countries in relation to online sports bets.
Online Sports Betting is Still a Grey Area Amongst the Latin American Nations
The main problem for the authorities is to regulate an industry where they cannot exercise authority. Due to the users residing in the country, but the companies that offer these services are based offshore. The result – most Latin American countries have issued the same laws: Any company residing in the country in question that wants to offer sports bets online must have a special local permit and pay the corresponding taxes. Special note here is Costa Rica and it’s loosely regulates gaming jurisdiction. Users should be careful when selecting online casinos that reside in their country since placing bets on platforms that are offshore is not penalized. A country that is worth noting for its recent changes in its online sports betting regulations in Colombia.
There are countries like Mexico and Chile that have tried to use online sports betting platforms on promoting the physical betting industry. In several cases, it is allowed at the national level to place bets on the internet of some sporting events held nationwide. However, almost always they are limited to races held at some racetracks and do not cover the most popular sports in Latin America.
From No Set Laws, Through to Separate State Laws or Complete Illegality
In Latin America, many countries have not set laws in relation to online sports betting, which is why online betting on football is neither legal nor illegal. Some of the countries that are in this situation are Bolivia, Ecuador, and Paraguay. Finally, some countries penalize online sports betting. The clearest example is Brazil, and this country prohibits various forms of betting and gambling, both physical and online. In fact, unlike most Latin American countries, Brazil has recently sought to create laws that completely restrict access to international online betting platforms for Brazilian users. However, things are appearing to change with the election of Brazil’s new president.
There are several countries that have provincial regulations for the online gambling industry. For example, Argentina, which has state governments deciding on this market, has been criticized by both industry professionals and users. In an increasingly global context, with an industry that requires international collaboration to ensure a quality service for its users, it is too inconsistent with maintaining several states of authority in a country, that can intervene in a dialogue necessary to regulate this growing industry.
It is evident that there are different Latin American profiles in relation to online soccer bets; in fact, the only constant changes. This growing industry demands constant changes in its regulation. So, it is vital to keep informed about these changes and ensure that your online football bets are within the law.