Online Gambling Likely To Be Legalised In Dominican Republic
Lot of attention is being given to internet gambling within the nation of Dominican Republic. The members of Standing Committee on Finance are discussing a new bill that will help in creation of a strong regulatory authority to manage gambling operations within the nation. This body will make regulations about different gambling techniques, which will be allowed and will also monitor operations of service providers that will run online gambling games within Dominican Republic. The legislation is likely to facilitate licensed internet gaming and earnings from this game will now become a part of taxable personal income.
History of online gambling at Dominican Republic
The nation has been a minor player in granting gaming licences to online gambling games providers. Though the Ministry of Finance gave the go ahead in 2006 to issues licenses for gambling games, the lack of clarity in taxes rates led to a delay in the legislation becoming a law. Since Feb 2011, Amaya Gaming Group has been granted license by Ministry of Finance to operate online sports betting shops within Dominican Republic. Presently there are land casinos within the nation that have been granted licenses by Ministry of Finance and have helped in attracting 4.4 million tourists in 2009 alone as it is the largest in any Caribbean nation.
Gambling regulation and changes
According to the president of finance committee that is studying this legislation’s details, this bill will give legislators power to monitor online gambling operations that are currently being carried out without any supervision. This law will also protect Dominican citizens from being cheated by offshore rouge operators. When the legislation is finally implemented it will help the finance department earn healthy revenues and also increase taxable assets of the players. According to legislations the tax rate for all 34 land based casinos within Dominican Republic that have both electronic gambling machines and regular gambling tables will be taxed at 29 percent on total.