The online gambling industry has many challenges when it comes to the massive number of regulated jurisdictions that it must navigate to remain compliant and profitable. The honest operators are keeping the reputation of internet betting respectable in the public’s eye allowing for its growth and acceptance.
There are jurisdictions and market areas on the planet that online gambling operators have been having difficulty gaining traction in. The Asian market is an especially difficult market to crack for example and the Latin American internet betting market is also not an easy job. A recent post proclaiming that the country of Colombia had blocked 325 unlicensed online gambling web domains after operators were not paying the required fees reveals the other side of the coin.
Online gambling operators are being irresponsible to do this and the South American country has other issues it needs to deal with. Last October the lawmakers legalized online gambling, at a high cost to operators. A high licensing fee and almost 20 percent tax on revenue has left most operators opting to continue offering their products from offshore headquarters. Coljuegos, Columbia’s gambling regulator created an online gambling blacklist comprised of 325 prohibited websites. The list of domains includes some well known internet betting firms, including PokerStars, Betfair, Paddy Power, and Ladbrokes, among others.
It is as if the Columbian government set itself up for failure with the punitive online gambling laws it enacted recently. The CEO of the Remote Gambling Association Clive Hawkswood, was quoted as saying back then, “All of those things add cost to entering a market that we don’t know whether is going to be viable,”
Colombia was one of the first Latin American countries to approve legislation for the online gambling industry. Although leading the way the country has created a flawed system that now requires harsh treatment to enforce.