Gambling in the USA

Online Gaming Reform Has Gone Missing In The Costa Rica Presidential Election

Published

7 years ago

March 23, 2018

George Miller

Online Gaming Reform Has Gone Missing In The Costa Rica Presidential Election

Fabricio Alvarado and Carlos Alvarado. Photo credits: Jeffrey Arguedas /EFE

Reading Time: 5 minutes

With the second round of the Presidential elections looming, several issues have dominated the campaign thus far — scandal has been to the fore, notably the Cementazo furore, while the same-sex marriage debate has been the issue that has most engaged voters, and their opposing views on this question have therefore come to form the central platforms of both Fabricio Alvarado and Carlos Alvarado.

However, in the eyes of some commentators, the focus on scandal and the legalization of gay marriage has come at the expense of serious debate about the economy. In particular, discussion of the state of the public finances has been largely missing from the campaign. The rate of public spending as a proportion of GDP, continued rising debt, and an impending interest rate rise are all issues that have the potential to disrupt the fairly tranquil economic progress that Costa Rica has been making in recent years.

What has been particularly disappointing about the way the debate has been framed is that there have been no especially clear views articulated by either candidate about new future directions for the Costa Rican economy, or potential areas for growth and expansion.

In particular, neither of the contenders seem to be looking at ways in which Costa Rica could enhance its standing and position globally by expanding its current role in the online gaming industry. For some time, international online gaming companies have been able to operate out of Costa Rica, but the government has still not put a licensing or regulatory regime in place, despite all the discussion on the formulation of a gaming control board over the last five years or so.

This delay has had a significant impact on the country’s potential to turn online gaming regulation into a significant part of the economy. As more and more major countries around the world, such as the UK, begin to regulate their online gaming industries, they will only allow companies that operate from jurisdictions with strong and robust regulatory regimes to advertise and offer gaming services in those countries.

However, because a gaming company that operates from Costa Rica is not received as being sufficiently audited or controlled and is therefore excluded from access to these newly-regulated countries’ online gaming markets, there is no incentive for gaming operators to be based here. In fact, the opposite situation has occurred, in that there used to be a very large number of online gaming brands operating out of Costa Rica, but the best and most reputable of these have moved on because their potential for growth and international reach have become severely restricted.

An innovative and forward-thinking approach by an incoming President would therefore be to set up a strong Costa Rica gaming authority, along the lines of those in Malta and Belize, which would license and audit the operations and activities of online gaming companies based in the country.

With a proper regime of licensing and oversight in place, including requiring operators to have effective problem and responsible gambling policies, there is the potential that UK bingo sites and casino operators might be persuaded to once more see Costa Rica as a positive and profitable jurisdiction from which to operate. Companies based here would then have access to regulated markets, while players would understand that they have proper redress when things go wrong, thus boosting consumer confidence in the Costa Rica ‘brand’.

Unfortunately, the existing approach to online gaming regulation in Costa Rica is simply not robust enough given the ways in which the industry has evolved in recent years. At present, online casino, bingo and poker companies who are perceived as operating out of Costa Rica are largely seen as unreliable and untrustworthy, or rogue operators as the industry likes to call them. Whether this is or isn’t the case is immaterial — it is how both the wider industry and players see them because there are no real conditions enforced by a licensing authority as to how they operate.

However, this reputational damage to the Costa Rica online gaming brand could be repaired if a new government were to move to set up a professional gaming regulatory authority with real powers and clout. Both Malta and Belize provide us with models as to how this might look.

Malta, for instance, despite its size has become one of the world’s most trusted and powerful online gaming regulatory jurisdictions in the world. This is both in terms of ‘grey’ markets, such as those in Canada and New Zealand (from where it is illegal for online gaming companies to operate, but who have no restrictions on residents playing at offshore sites), as well as fully regulated markets like the UK, which has placed the Malta Gaming Authority (MGA) on its ‘white’ list. This allows gaming operators with a MGA license to offer and market their services to players in the UK, one of the biggest online gaming markets in the world.

There are now more than 500 international online gaming operators licensed by the MGA, and it is constantly evolving in line with new industry and technological developments, such as the growing use of cryptocurrencies in online gambling.

Belize too is an example of a successful small country that nevertheless manages to punch above its weight in the online gaming industry. It introduced the Computer Wagering Licensing Act (1995) in May 1996, and companies who are licensed by the Belize Computer Wagering Licensing Board (BCWLB) are able to offer sports betting, casino games and other online gaming services to players internationally. The BCWLB has a positive reputation globally for providing a fair and secure gaming environment through its regulatory regime, and as such Belize continues to be a destination of choice for online gaming operators.

Allied to all of this, a forward-thinking regulatory regime that seeks to bring some control and security to the hitherto fairy unruly cryptocurrency gambling market, which is already well established in Costa Rica, could see the country become an industry leader in this sector. Casinos that enable players to use Bitcoin both to fund their accounts and as in-play currency are currently already being operated from Costa Rica, but as they are unregulated they are attracting a reputation for being unreliable and untrustworthy.

However, by establishing a robust authority along the lines of the MGA, the BCWLB or the UK Gambling Commission, Cost Rica could steal a march on its rivals and become a respected and trusted authority when it comes to the licensing of Bitcoin gambling sites.

In saying this, however, it is important to note that Costa Rica operating a regulatory regime does not necessarily mean that online gambling has to become legal here for Costa Rican citizens— in fact, neither Belize nor Malta, nor countries like Israel where some of the world’s biggest online companies are based, allow their citizens to gamble online.

Rather, this is about growing the economy and attracting foreign capital; the current laws regarding Costa Ricans gambling online do not have to change for the country to establish a powerful international regulatory authority. In short, moral concerns over gambling in this country need not be a part of the conversation.

Regulation of online gambling and the introduction of a gaming control board has been talked about in Costa Rica for far too long, and far too little action has been taken. Perhaps this should be one of the first items on the agenda of the new President, whoever that might be.

Source: qcostarica.com

Gambling in the USA

Gaming Americas Weekly Roundup – November 4-10

Published

3 days ago

November 12, 2024

Niji Narayan

Reading Time: 2 minutes

Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

PENN Entertainment and ESPN announced that account linking between ESPN BET and ESPN is now available for customers, creating an even more deeply integrated media and betting experience. By linking accounts, fans now have the ability to seamlessly track upcoming, live and settled bets within the ESPN app and on ESPN.com. With this product enhancement, ESPN BET will soon bring fans more personalised bets and timely promotions based on their favourite sports, teams, players and fantasy rosters.

Accel Entertainment Inc. has announced that it has completed the acquisition of 85% of the ownership interests of Toucan Gaming LLC and LSM Gaming LLC, two Louisiana-based route operators and owners of multiple licensed video poker establishments (collectively, “Toucan”), for approximately $40 million. The combined business will operate as Toucan Gaming throughout Louisiana and will be led by Stan Guidroz, an industry-leading gaming executive and current CEO of Toucan Gaming. Mr. Guidroz owns the remaining 15% of Toucan’s ownership interests and will lead the Accel team supporting Toucan’s continued growth.

INTRALOT S.A. has announced the undertaking of a new project between the British Columbia Lottery Corporation (BCLC), the sole lottery operator for the Government of British Columbia in Canada, and INTRALOT, its US subsidiary, for the provision of an online lottery platform. The project also includes the digitalisation of the existing land-based network. The solution will be based on the Player X platform, part of the Lotos X ecosystem, and adds to the company’s overall partnership with BCLC, which has been extended until 2028.

BetMGM Poker has become the third US operator to offer multi-state online poker. The company has merged its player pools in Michigan and New Jersey. Both states are a part of the Multi-State Internet Gaming Agreement, which allows online poker networks to share liquidity and players in participating markets. The two-state network went live Wednesday afternoon after morning maintenance.

Betsson Group has celebrated its success at the SBC Awards Latinoamérica 2024, winning two prestigious awards: Sportsbook Operator of the Year and Leader of the Year, which was awarded to Kevin Saliba, Commercial Director (Business Development) for Latin America. This marks the second consecutive year Betsson has earned the Leader of the Year accolade, following Andrea Rossi’s win in 2023 – an achievement that underscores Betsson’s consistent leadership in the region.

Partnerships

Play’n GO has announced a new operator partnership with renowned gaming brand Hard Rock Digital for their top-rated Hard Rock Bet online casino platform in New Jersey. The Hard Rock brand is synonymous with entertainment worldwide, and this partnership will see Hard Rock Bet players in New Jersey gain access to hit Play’n GO titles such as Piggy Blitz, Book of Dead and Rise of Olympus 100.

SCCG Management, a global leader in gaming innovation and advisory, has announced a strategic partnership with Chata.AI, a technology provider specialising in self-service, proactive analytics that enables businesses to access real-time insights without requiring extensive technical expertise. This partnership introduces Chata.AI’s technology to the gaming industry, providing operators with powerful tools to streamline decision-making and increase operational efficiency.

Gambling in the USA

Gaming Americas Weekly Roundup – October 28-November 3

Published

2 weeks ago

November 4, 2024

Niji Narayan

Reading Time: 2 minutes

Latest News

Elray Resources Inc. has announced a significant milestone in the company’s growth strategy. The company has completed the sale of proprietary technology to 180 Life Sciences Corp. (NASDAQ:ATNF), a NASDAQ-listed company in exchange for preferred stock convertible into a 40% stake in ATNF and warrants to purchase 3 million shares of ATNF common stock, the conversion/exercise of which is subject to stockholder approval. The technology stack contained within Elray’s technology package will assist ATNF in launching an iGaming Blockchain casino.

PrizePicks, the largest daily fantasy sports operator in North America, has announced that it has been awarded Daily Fantasy Sports Operator Licenses in Delaware and Missouri. The company will launch Arena, its innovative peer-to-peer fantasy sports contest, in both states. With these new state launches, Arena will now be available in 15 states across the US.

The Pennsylvania Gaming Control Board (Board) unanimously voted to renew the Category 2 stand-alone casino license of Wind Creek Bethlehem LLC, operator of Wind Creek Bethlehem casino in Northampton County. In making the decision, the Board determined that Wind Creek Bethlehem LLC had fulfilled the obligations under its previously approved casino operator’s license and therefore qualified to have its license renewed for an additional five-year period.

Aristocrat announced that the company was the first international slot and online technology company to be granted a Gaming-Related Vendor license by The General Commercial Gaming Regulatory Authority (GCGRA), the federal entity overseeing commercial gaming activities in the United Arab Emirates (UAE). This announcement grants Aristocrat the ability to provide the company’s land-based electronic gaming machines (EGMs) and online games and technology solutions to commercial gaming operators licensed by the GCGRA.

Partnerships

SCCG Management, a leading global advisory and consulting firm in the gambling industry, has entered into a strategic partnership with Slot Machines Unlimited, a premier provider of refurbished slot machines and gaming equipment. The partnership between SCCG Management and Slot Machines Unlimited leverages both companies’ strengths: Slot Machines Unlimited’s expertise in refurbished gaming equipment and SCCG’s deep industry insight, global network and strategic growth capabilities. The collaboration will enhance Slot Machines Unlimited’s international sales and service operations, ensuring gaming establishments worldwide have access to high-quality slot machines and support.

Galaxy Gaming Inc. has announced that the Galaxy Operating System (GOS) is now live on over 50 ships worldwide with Carnival Corporation & PLC, the world’s largest leisure travel company. Since the installation, tables powered by GOS have awarded over $5 million in jackpot payouts to players. GOS is the jackpot progressive system for all Carnival Corporation ships, including Carnival Cruise Line, Holland America Line and Princess Cruises. Launched in 2024, GOS is the next-generation game management system developed by the industry’s leading table game experts.

The hottest new game from Aristocrat Gaming, Phoenix Link, is now live on casino floors, with Yaamava’ Resort & Casino being the first in North America to offer the highly-anticipated game. As the next evolution of the international hit game, Dragon Link, Phoenix Link features player-favourite mechanics from top games with all-new themes, features and bonuses.

Gambling in the USA

Gaming Americas Weekly Roundup – October 21-27

Published

3 weeks ago

October 28, 2024

Niji Narayan

Reading Time: 2 minutes

Latest News

Bally’s Interactive, the digital and sports betting division of Bally’s Corporation, announced the official launch of the Bally Bet Sportsbook app in Tennessee, marking its expansion into the tenth state. This milestone comes on the heels of recent successful Bally Bet launches in Massachusetts and Maryland. Sports enthusiasts across the Volunteer State can now revel in the comprehensive offerings of the Bally Bet sportsbook app. With a wide array of betting options, including spread, money line and total bets, as well as in-game betting and same game parlays, Tennessee sports fans will have an unparalleled wagering experience.

ESE Entertainment Inc., a gaming company that provides a range of services to leading video game developers and publishers, has announced that it has acquired Bombee Global Entertainment (Bombee Americas), the North American arm of Bombee Event Production AB, (Bombee), a global production company specialised in live production, special effects, broadcast and event management for the gaming sector. Bombee has successfully collaborated with ESE to bring its premier event production services and world class customer service to North America and beyond. The North American arm of Bombee, Bombee Americas, will continue to grow and scale in this new organisational structure under ESE, while maintaining its entire team and global support.

Matthew Wantman has become the overall champion of the PokerGO Tour PLO Series II presented by PLO Mastermind. Wantman secured the prestigious honor after an impressive showing at PokerGO Studio in Las Vegas, outperforming a talented field of the best PLO players in the world to earn the $10,000 PGT Passport bonus. The PGT PLO Series II featured a series of high-stakes pot-limit Omaha tournaments. Wantman’s consistent performance set him apart from the competition and solidified his spot atop the leaderboard.

Partnerships

SYNOT Games has announced its further expansion into the Colombian market through a partnership with BetPlay. This alliance highlights SYNOT Games’ commitment to increasing its presence in Latin America and providing its engaging and innovative games to a wider audience. Through this partnership, BetPlay’s online platform will feature a curated selection of SYNOTGames’ top-performing titles, including fan favourites like Aztec Jaguar, Diamond Fever, Realm of Lions.

Internet Sports International, a global provider of turnkey race and sportsbook software solutions, announced its partnership with the We-Ko-Pa Casino Resort in Fort McDowell, Arizona. Through this consultancy, ISI is powering the casino’s sportsbook and retail sports wagering operations on its gaming floor with its award-winning system. WKP Sportsbook is currently operating, allowing patrons to elevate their excitement by wagering on their preferred sporting events with up-to-the-minute odds and live action. The automated sportsbook kiosks provide access to a wide range of sports propositions for both the beginner and expert bettor.

Aristocrat Gaming, a leading designer, manufacturer and distributor of regulated slot games, announced it is now a promotional partner for Princess Cruises, one of the world’s most iconic cruise lines. Through this exciting collaboration, Aristocrat Gaming will design innovative gaming experiences for guests onboard Princess ships as well as create promotions with land-based casinos that offer Princess cruises as rewards.