Online Gambling Regulatory Bodies Worldwide

Published Tuesday, January 12, 2016 -
Online Gambling Regulatory Bodies Worldwide

Regulation has been the main focus of jurisdictions in Europe to make the offering and playing of online games for real money safe and enjoyable. There are a number of regulatory bodies in the world of online gambling all of which offer a system of controls and requirements for the particular jurisdiction. In Europe there are around eleven different regulatory bodies that cater to the online gambling industry.

In Asia there is one regulatory body and South East Asia is the home to what has come to be recognized as the world’s most favorable jurisdictions for licensing and regulation of electronic gaming. The Philippines is home to the Cagayan Economic Zone Authority which offers the only regulated platform in the region.

Australia offers three regulatory situations in different parts of the region each offering different tax regimes and licensing fees and restrictions. North America has a number of regulators such as Costa Rica and The Kahnawake Gaming Commission in the Mohawk controlled territory in Canada which offers a 0% tax rate and a reasonable licensing fee.

Costa Rica is a unique jurisdiction in Central America as companies can operate without a gaming license and there are no market restrictions. The big drawback is local banks won’t process transactions and it’s nearly impossible to get a simple corporate account from a local bank as their banking sector is controlled by the USA. Panama and Nevada also offer a good regulatory platform that is secure and worth the price of admission for operators and players.

In South America the two main options for regulators are Curacao, a small island nation off the north coast of Venezuela which has been in the online gaming business since 1996.  It offers only one type of license which covers operators and software providers of games of skill, chance and sports betting. The other regulator in the region is Antigua and Barbuda where the licensing and regulation of online gambling services are handled by the Financial Services Regulatory Commission’s Division of Gaming.

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