Jamaican Regulated Online Gambling Coming Soon

Published Monday, June 19, 2017 - Online-Casinos.com
Jamaican Regulated Online Gambling Coming Soon

Jamaica is a beautiful island in the Caribbean that has been independent since 1958. It was announced by Audley Shaw, the Minister of Finance and Public Service for Jamaica that Jamaica’s three state organizations that deal with gaming, the Betting, Gaming and Lotteries Commission  and the racing and casino regulators will be merged into an all encompassing organization to be known as the Jamaica Gaming Commission (JGC). This move is expected to be completed by the end of the year with online gambling regulation implementation expected before that.

At the end of May of 2014 the government of Jamaica enacted changes to its gambling laws that  paved the way for the country to regulate online gambling. Gary Peart, chairman of the Betting, Gaming and Lotteries Commission said then the only way to shore up the government’s balance sheet was with additional gambling tax through an expansion of the country’s current gambling offering.

Shaw announced during the 7th Caribbean Gaming Show and Summit, hosted by the BGLC in Montego Bay that the regulatory body was “in the process of drafting legislation establishing a licensing regime as well as regulatory supervision for operators of interactive gambling.” Shaw also said that the Jamaican government will “fast track” this legislation due to the fast pace of technological change and “the need to facilitate the growth” of the gambling industry in Jamaica.

The Trinidad and Tobago Guardian revealed that Shaw said, “Since last year, the Casino Commission has met with two large international investors, which are now advanced in the preparation of their applications for Integrated Resource Development status,” adding, “With these developments, there is a lot of optimism for the growth potential of the gaming sector.”

Regarding illegal gambling activities in Jamaica Shaw said, “Reports indicate that illegal gambling operations are raking in an estimated two billion dollars each year; a big chunk of that money is used to fund the criminal underworld and we must band together to stamp out this phenomenon.”

 

 

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