How online gambling is helping the Latin American community in two different countries

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By sounds and colors
| October 30, 2022

When people think of sports betting a lot of minds usually go to the United States of America because it is a huge country with a bunch of professional sports leagues that are starting to accept the game widely rather than acting as if sports betting did not exist. due to its geographically defined legality as it has been for years.

However, the Latin American market has the ability to continue to grow over time as it continues to be able to regulate online casinos and sports betting. Today we will discuss what two Latin American countries are doing with sports betting and how it will help their communities as a whole.

We’ll dive into two countries representing the Latin American community to show exactly how the iGaming industry has helped everyone keep going and the rules and regulations of the country. Having the opportunity to win money in an online casino or with a bookmaker makes things much more fun for those who choose to participate. Still, it really helps the community with the ability to make it work.

Argentina

Argentina regulates gambling because each province is allowed to do whatever it wants and can only authorize services to people from that specific province. If the providence of Argentina decides to allow it, then it essentially allows the legalization of every aspect of the game.

An estimate shows that the country’s online gaming and betting sector generates $2.4 billion in annual revenue. This is in addition to the federal tax put in place on online gambling platforms, which was increased from 2% to 5% after the financial crisis of the 2020 COVID-19 pandemic. The country also regulates advertising on games of chance because they do not want these advertisements to target minors or mislead the public.

It really helps the economy, because $2.4 billion is a lot of money for a population of 45 million people to make improvements with. If those numbers are correct, that’s $53.33 added to the economy every year per person, which can really help things in the country in terms of infrastructure, healthcare, homelessness, or whatever. serious need in the country.

Dominican Republic

The Dominican Republic has made incredible efforts to attract more people to its country with its tourism budget. Much of the Dominican Republic’s tourism budget has gone to casinos. The only unregulated forms of gambling in the country are fantasy and virtual sports betting, which helps them make a lot of money, as DR also has a 10% turnover tax. This means that in order to have the population of DR available for your betting site, you will have to give back to the country 10% of your income generated by the inhabitants of the Dominican Republic.

According to Dominican Republic law, operators must provide the National Directorate of Casinos and Gambling with a fee of RD$1 for every RD$100 they process and RD$2 for every RD$100 for technological equipment such as slot machines in physical locations. They must also donate 25% of any player’s winnings to the national treasury.

Although the total revenue from gambling in the Dominican Republic is not known, it is a pretty penny that the country receives because it receives a lot of money for allowing gambling of any kind in its country. This has helped them make the country a great travel destination and grow their tourism with cities like Punta Cana, Santo Domingo, and Puerto Plata, to name a few. This helps make it a beautiful country, and the iGaming industry’s allowance has enhanced their ability to promote the beauty of the nation to tourists and adventure hunters.

Conclusion

Not all Latin American countries have accepted the gambling industry, whether online or in person. Yet countries that have seen significant improvement as governments can use this money to help the people and the country as a whole. They take advantage of this and allow people to have a fun way to spend their money that doesn’t hurt people, and more and more countries in Latin America should continue to expand the ability for players to do so over time. time.

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