Jamaica Inquirer, KINGSTON, Jamaica, Thurs. Dec. 4, 2014: The Jamaican government are set to make changes to the current laws to regulate online gambling, it has be announced. With the land-based casino industry within the country currently adding large sums to the economy, the House of Representatives have approved the proposed amendments to the Betting, Gaming and Lotteries Act.
The first changes to the law where seen before the 2014 FIFA World Cup, with the government allowing telephone betting to place wagers on the matches. Legalising online casino sites in Jamaica will not only bring a huge boost to the economy, but help increase the employment within the country. Ministry of Finance and Planning representative Horace Dalley has stated that regulating online gambling will add stability to the countries finances and studies show that no less than $100 billion would be spent on the online gambling and betting markets by the end of 2017.
Jamaica is currently bogged down by the circulation of illegal and illegitimate online casino and gambling companies and it is said that these generate around $250m every year. The government hope the amendments will take the fight to the illegal operators and force them to close down.
The Chairman of the Betting, Gaming and Lotteries Commission Gary Peart believes the changes to the laws are the only way to combat the fraudulent companies, and the only way it can be achieved is by expanding Jamaica’s current gaming market. Peart also stated that he would expect the introduction of online gaming, online sites like www.casinoonline.co.nz and betting could increase the market by between 10-20%, on top of the current rate of seen over the recent years of 15-30%.
Up to 40 new sports betting shops will be introduced around the country, bring the total to 400 throughout Jamaica. The Government hopea that the new shops, as well as the legalization of online casino and gambling sites, will take the country into a new era for gaming as well as be beneficial to the economy.